New Delhi. If you are planning to invest in fixed deposit i.e. FD, then this news is useful for you. Actually, public sector bank IDBI Bank on Tuesday increased the interest rate on 444 day FD to 7.85 percent. This increase has been made for a limited time and is valid till 30 September 2024.
IDBI Bank said in a statement that now interest will be paid at the rate of 7.85 per cent and 7.75 per cent per annum respectively on fixed deposits with tenure of 444 days and 375 days.
How to book Utsav FD
The bank said that this increase makes ‘Utsav FD’ even more attractive for customers looking for higher yield. According to the statement, this offer is valid till September 30, 2024. Customers can easily avail the benefits of Utsav FD through the bank’s website or mobile banking app or any branch of the bank.
7.70% interest for 700 days period
Apart from this, IDBI Bank will continue to offer competitive rates on other special tenures under the Utsav FD scheme. Under this, interest is paid at a maximum rate of 7.70 per cent for a tenure of 700 days, while for a tenure of 300 days it is 7.55 per cent.
Deposit growth slows down
Let us tell you that due to the slowdown in the growth of deposits in banks, the banks as well as the government are worried. Meanwhile, many banks have come up with special FD schemes to encourage customers to deposit more money with them. For example, SBI has launched the ‘Amrit Vrishti’ scheme, in which the bank is giving 7.25 percent interest for 444 days. Similarly, Bank of Baroda has launched the ‘Monsoon Dhamaka’ deposit scheme, in which 7.25 percent interest rates are being given for 399 days and 7.15 percent for 333 days.
Tag: bank fd, FD Rates, Fixed deposit
first published : August 20, 2024, 11:15 pm IST
