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Sunday, 18 July 2021

IDBI Bank changes interest rates on fixed deposits, maximum interest rate of 5.30% on FDs

 IDBI Bank changes interest rates on fixed deposits, maximum interest rate of 5.30% on FDs

 IDBI Bank changes interest rates on fixed deposits, maximum interest rate of 5.30% on FDs


IDBI Bank has changed the interest rate on fixed deposits. The bank is offering interest up to a maximum of 5.30%. In this bank you can do FD for 7 days to 20 years. The bank offers senior citizens an additional 50 basis points interest for all periods. The new rates have been in effect since July 14. We are informing you about the new interest rate.


How much interest will you get now

Period New interest rate (in%)

7 to 30 days 2.7

31 to 45 days 2.8

46 to 90 months 3.00

91 days to 6 months 3.50

6 months to 1 year 4.30

1 year 1 day to 3 years 5.10

3 years 1 day 5 years less 5.30

5 to 10 years 5.25

10 years 1 day to 20 years 4.80


The bank had changed several charges from July 1

IDBI Bank has changed the check leaf charge, savings account charge and locker charge from July 1. Customers will now get only 20 pages of check book free per year. Customers will then have to pay Rs 5 for each check. Apart from that, the bank has also reduced the free cash transfer limit.


IDFC will pay interest every month on First Bank Savings Account

IDFC First Bank has introduced monthly interest credit facility on all its savings bank accounts. This means that customers will now receive a monthly interest amount on a savings bank account. The new rule has been in effect since July 1.


According to RBI rules, the bank deposits interest in the depositors' accounts on a quarterly basis. However, they are free to credit it on a monthly basis. There is no restriction from the RBI in this matter.

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The bank offers annual interest up to 5%

Maintain a balance of less than Rs 1 lakh, they will get 4% interest. Customers who maintain a balance between Rs 1 lakh and Rs 10 lakh will get 4.5 per cent interest, while those who maintain an account balance above Rs 10 lakh will get 5 per cent interest.

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