How to find the best rates for IDBI Fixed Deposit
Established in 1964 by the government of India through an Act of Parliament with the aim of providing credit and other financial facilities for the development of the Indian industry. Formerly known as Industrial Development Bank of India, IDBI is a government owned financial services company that has its headquarters in Mumbai. With 1659 branches and 2912 ATM centres, IDBI is one of 27 commercial bank owned by the government of India and yet is one of the leading government banks in India, today.
IDBI Bank Ltd. offers fixed deposits at competitive interest rates and at flexible tenures so as to ensure customers can maintain liquidity according to their needs while maximising returns.
Although, interest rates are fixed for the chosen deposit period, the bank can alter interest rates over a period of time which will affect customers when renewing existing accounts or making fresh deposits. The above table captures all changes as soon as the bank announces the same thereby allowing customers to avail the best and latest interest rates in a timely manner.
IDBI Bank Ltd. Short Term Fixed Deposit Rates
IDBI Bank Ltd. provides its depositors with competitive rates of interests for their short term deposits. For fixed deposits accounts of durations ranging between 15 days - 30 days, IDBI offers an interest rate of 4.50% p.a. The interest rate is increased by 2% and further by 2.5% for a tenure of 31 days - 45 days and 46 - 60 days respectively. 7.25% p.a. is the interest rate offered to depositors who choose a term in the range of 61 days - 90 days. 91 days- 6 months term deposits accrue interest at the rate of 8.00% p.a. The rate of interest increases by 0.80% and 0.25% from 8.00% for tenure of 6 months and 1 days and for tenure of 6 months and 2 days to 270 days respectively at 8.8% and 8.25%. 271 days - 1 year fixed deposit accounts accrue interest at the rate of 8.30% p.a.
IDBI Bank Ltd. Medium and Long Term Fixed Deposit Rates
IDBI Bank Ltd. offers high returns on investments held in the medium or long term. For deposits terms ranging from 1 - 2 years, investments earn at the interest rate of 8.60% p.a. Investments made in fixed deposits accounts with IDBI Bank Ltd. for terms ranging from 2 - 3 years, the rate of interest levied is 8.60% p.a. Interest rates on fixed deposits for holdings of 3 - 5 years and 5 years remains the same as the rate of interest offered for tenures of 2 - 3 years, i.e. 8.60%.
IDBI Bank Ltd. Senior Citizens Fixed Deposit Rates
IDBI Bank Ltd. offers revised interest rates to its customers above the age of 60 years who come under the category of senior citizens. Senior citizens with fixed deposit accounts of durations ranging from 15 days to 30 days avail earnings at the interest rate of 4.5% p.a. Durations of 31 days - 45 days for a fixed deposit account, earns senior citizens interest at the rate of 6.00% p.a.
The rate of interest is increased by 0.50% p.a. from 6.00% for terms ranging between 46 days to 60 days. A booming rate of interest of 7.25% p.a. is offered for durations between 61 days to 90 days. Tenures of 6 months and 1 days are awarded interest at the rate of 8.80% p.a. Tenures in the range of 6 months and 2 days to 270 days earn interest at the rate of 8.75% p.a. 8.80% p.a. is the rate at which interest is awarded to tenures between 271 days and 1 year. Term deposits ranging from 1 - 2 years, 2 - 3 years and 3 - 4 years, 5 years are charged a rate of interest of 9.1% p.a.
No comments:
Post a Comment