NE BUSINESS BUREAU
MUMBAI, OCT 21
Days after public sector banks have launched special FD schemes, the private sector lender IDBI Bank has launched the “Amrit Mahotsav FD” scheme of 555 days commencing on Saturday, October 21, 2022, as part of its festive offer. The bank has launched a special, limited-time offer with an interest rate of 6.90 percent for a period of 555 days, says a bank releases.
- Senior citizens will only be eligible for the standard markup of 0.50 percent
- The Amrit Mahotsav FD Scheme of 500 Days and 1,100 Days will no longer be offered from Saturday
With effect from Saturday, October 21, 2022, the Bank has also raised its interest rate offerings on term deposits across a range of maturity periods. The interest rate on a one-year deposit has climbed to 6.75 percent, while the highest rate for a two-year bucket is now 6.85 percent. This special limited-time offer, which runs through the end of December 2022, is for the introduction of the Amrit Mahotsav (callable) FD Scheme in 555 days.
The Amrit Mahotsav FD Scheme of 500 Days and 1,100 Days will no longer be offered from Saturday, according to the bank. The bank provides a 6.40 percent interest rate on the “Amrit Mahotsav FD” programme to the general public and a 6.90 percent interest rate to senior citizens.
Senior citizens will only be eligible for the standard markup of 0.50 percent, and retired senior citizen staff will only be eligible for the standard markup of 1 percent.
