Special FD Scheme: This bank’s key decision on the LIC scheme… Extension of the schemeIDBI, the country’s largest insurance company LIC, has postponed the date of its special FD scheme. This decision was taken at a time when the RBI did not change the repo rate for the 7th time in a row. Policy rates are still the highest in the country at 6.50 percent. According to the IDBI Bank website, the Bank’s Special Utsav Fixed Deposit..
IDBI, the country’s largest insurance company LIC, has postponed the date of its special FD scheme. This decision was taken at a time when the RBI did not change the repo rate for the 7th time in a row. Policy rates are still the highest in the country at 6.50 percent.
According to the IDBI Bank website, the bank has extended the validity date of the special Utsav Fixed Deposit (FD) by 300 days, 375 days and 444 days. According to the bank, earlier the timeline for these special FDs was up to March 31, 2024, but it has decided to extend it till June 30, 2024. Let’s find out how much return investors are currently getting in a particular FD.
Utsav FD 300 days: The bank offers 7.55 percent interest on this FD to senior citizens. The bank offers an interest rate of 7.05 percent to general, NRE and NRO customers under the 300-day Amrit Mahotsav FD scheme. Moreover, it also provides premature withdrawal and closure facility.
Utsav FD 375 days: The bank offers 7.60 percent interest on this FD to senior citizens. Under the Amrit Mahotsav FD scheme, the bank offers 7.10 percent interest for 375 days to general, NRE and NRO customers. In addition, premature withdrawals and closures are also expected.
Utsav FD 444 days: Under this scheme the bank offers 7.25 percent interest rate to general NRE and NRO customers. The bank offers 7.75 percent interest to senior citizens for this scheme.
Special FD Specialties
- 300 days special FD not applicable for NRE deposits.
- Withdrawal/closure is allowed before maturity.
- Employee and senior citizen rates are not applicable on NRO, NRE fixed deposits.
- Fixed Deposit All other features, terms and conditions remain unchanged. Also applicable to the above scheme.
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