Latest news with #UtsavFD
Time of India
4 days ago
- Business
- Time of India
Special FD interest rate up to 7.8%: IDBI Bank revises FD rates across special deposits, check Utsav FD deadline
IDBI Bank Utsav Fixed Deposit Live Events Special Buckets General/NRE/NRO Senior Citizens 444 Days 7.1 7.6 555 Days 7.15 7.65 700 Days 7 7.5 Latest IDBI Bank FD rates Interest Rate (% p.a.) Retail Term Deposits (< 3 Cr) Maturity Slab General Customers Sr. Citizen 0-6 Days NA NA 07-30 days 3 3.5 31-45 days 3.25 3.75 46- 60 days 4.5 5 61- 90 days 4.75 5.25 91 days to 6 months 5.5 6 6 months 1 day to 270 Days 6 6.5 271 days to < 1 year 6.25 6.75 1 Year to 2 Years 6.8 7.3 (except 444 Days, 555 days & 700 Days) > 2 Years to <3years 7 7.50 3 years to 5 years 6.5 7 >5 years to 10 years 6.25 6.75 >10 years to 20 years$ 4.8 5.30 Tax Saving FD 5 Years 6.5 7 IDBI Chiranjeevi-Super Senior Citizen FD Special Buckets Senior Citizens 444 Days 7.75 555 Days 7.8 700 Days 7.65 IDBI Bank has announced revision of its interest rates across key deposit products, including regular fixed deposits (FDs), the special Utsav Fixed Deposit scheme, and savings bank accounts. The updated rates have come into effect from May 16, special Utsav Callable FD tenures of 444, 555, and 700 days offer high interest rates The rates are:444 days: 7.10% (general), 7.60% (senior)555 days: 7.15% (general), 7.65% (senior)700 days: 7.00% (general), 7.50% (senior)The above rates are effective till June 30, read: Highest FD returns: SBI, HDFC, ICICI and Canara Bank, which one gives the maximum interest on Rs 5 lakh deposit Note that the Utsav FD tenures of 300 days and 375 days have been discontinued from April 16, the bank was offering 7.25% on 444-day tenure for general citizens, 7.75% for senior citizens. On a tenure of 555 days, the bank offers 7.3% for general citizens and 7.8% for senior Bank has also revised its term deposit interest rates for deposits less than Rs 3 crore. After revision, the bank offers FD interest rate between 3% and 7% (excluding special deposits) for general citizens. For senior citizens, the bank offers between 3.50% and 7.50% for tenures between 7 days and 10 years. The revised rates are effective from May 16, tax-saving FDs with a 5-year lock-in period, the interest stands at 6.50% for general customers and 7.00% for senior Chiranjeevi-Super Senior Citizen FD exclusive for resident individuals aged 80 years. Super senior citizens investing in a tenure of 444 days, the interest rate offered is 7.75% per annum. Interest rate for the 555-day deposit can earn a return at 7.80%, while the 700-day deposit offers an interest rate of 7.65% per May 16, 2025, interest rates on savings bank account balances have been revised. For balances up to Rs 1 lakh, the rate remains 2.70% per annum. Balances above Rs 1 lakh and up to Rs 5 crore will earn 2.75% p.a. Accounts holding between Rs 5 crore and Rs 100 crore will now earn 3.25% balances exceeding Rs 1,000 crore, floating interest rates linked to MIBOR (Mumbai Interbank Offered Rate) will apply starting June 1, 2025. The applicable rates vary as follows:Rs 1,000–1,500 crore: MIBOR +10 bpsRs 1,500–2,000 crore: MIBOR +40 bpsRs 2,000–5,000 crore: MIBOR +70 bpsOver Rs 5,000 crore: MIBOR +55 bpsNote that MIBOR-linked interest will apply to the entire balance above Rs 1 lakh if the end-of-day balance exceeds Rs 1,000 crore.
Mint
25-04-2025
- Business
- Mint
IDBI Bank, Ujjivan Small Finance Bank cut their FD interest rates on THESE tenures
IDBI Bank has discontinued Utsav FD with tenures of 300 days and 375 days from April 16, 2025. The validity of the remaining special tenures has, meanwhile, been extended until June 30, 2025. In a tenure of 444 days, IDBI Bank has cut fixed deposit interest rates from 7.35 to 7.25 percent per annum. In a tenure of 555 days, the bank has cut its interest rates from 7.40 to 7.30 percent. In a tenure of 700 days, interest rates were slashed by 20 basis points to 7 percent. Tenure General (%) Senior (%) 444 days 7.25 7.75 555 days 7.30 7.8 700 days 7 7.5 There is another IDBI Chiranjeevi Super Senior Citizen FD scheme which is meant for resident individuals aged 80 years and above effective from January 13, 2025. Special buckets Super senior citizens (%) 444 days 7.90 555 days 7.95 700 days 7.65 Under Suvidha tax saving fixed deposits, the bank offers 6.5 percent interest with effect from April 16 to general citizens and 7 percent to senior citizens. Meanwhile, Ujjivan Small Finance Bank has cut its interest rates on fixed deposits by 20 basis points. On an FD of 12-18 months tenure, the revised interest rates are 7.9 percent instead of 8.10 percent. On a tenure of 18 months, the SFB now offers 8.05 percent per annum instead of 8.25 percent per annum. The new rates came into force from April 24, 2025. It is worth recalling that most banks revised their interest rates on fixed deposits after the Reserve Bank of India (RBI) cut its repo rate in two consecutive monetary policy committee (MPC) meetings each time by 25 basis points. Now the repo rate – at which RBI lends to commercial banks typically overnight against government securities – stands at 6 percent. Visit here for all personal finance updates. First Published: 25 Apr 2025, 03:24 PM IST
Time of India
22-04-2025
- Business
- Time of India
FD interest rate up to 8.05%: 4 banks that are still offering special FDs; Check the last date, latest interest rates
Four banks have extended the last date for their special fixed deposit schemes . The extended deadline for special FDs comes with a reduced FD interest rate . It is important to note that the Reserve Bank of India (RBI) has cut the repo rate by 25 basis points each time since the start of 2025. Income Tax Guide Income Tax Slabs FY 2025-26 Income Tax Calculator 2025 New Income Tax Bill 2025 Indian Bank has extended the last date for its IND Supreme 300-day and IND Super 400-day FDs to June 30, 2025. Meanwhile, Punjab & Sind Bank has extended its special tenure FD till June 30, 2025, and revised the interest rate. IDBI Bank 's Utsav Deposit tenures have been overhauled, 300 and 375-day FD schemes discontinued, and key interest rates trimmed, effective April 16, 2025. The State Bank of India (SBI) has relaunched the SBI's Amrit Vrishti 444-day FD at a reduced rate, giving savers a fresh opportunity to lock in returns on a mid-term deposit. ET Wealth online looks at the four special FDs in detail. Indian Bank's IND Supreme, Super Special FD Indian Bank, a public sector bank, offers special FD schemes, IND Supreme 300 Days and IND Super 400 Days. These FD schemes provide the highest interest rates of 8.05% for super senior citizens. The bank has kept the regular fixed deposit and special fixed deposit interest rates unchanged. The bank has extended the last date of these schemes to June 30, 2025. Live Events Punjab & Sind Bank's Special FD Punjab & Sind Bank has reduced the special fixed deposit interest rate and ended some special FD tenures. Now, bank customers have until June 30, 2025, to invest in the available special FD. The bank discontinued 333-day and 555-day FD tenures, which offered FD interest rates of 77.2% and 7.45%, respectively. Please check the interest rate. However, FD investors can still invest in 444-day, 777-day, and 999-day FD tenures, albeit with a lower interest rate. For the 444-day FD tenure, the bank has reduced the interest rate by 20 basis points from 7.30% to 7.10%. For 777 days, the lender reduced its rate by 0.75%, from 7.25% to 6.50%. On a 999-day term, the interest rate was reduced by 30 basis points from 6.65% to 6.35%. The current rates are effective April 1, 2025. The last date to invest in the special tenure FD is June 30, 2025. IDBI Bank Utsav FD scheme FD investors still have the option to book IDBI Bank's special FD for certain tenures. As per the latest update, the bank has discontinued two special FD tenures-300-day and 375-day-under the Utsav Deposit scheme. Simultaneously, it has reduced interest rates across key tenures, impacting general depositors, senior citizens, and super senior citizens under its IDBI Chiranjeev FD plan. For the 444-day tenure, the rate for general customers has been reduced from 7.35% to 7.25%, for senior citizens from 7.85% to 7.75% (both under the Utsav FD scheme), and for super senior citizens (under the IDBI Chiranjeev FD) from 8% to 7.90%. For the 555-day tenure, the rate for general customers is now 7.30%, instead of 7.40% earlier. Senior citizens will get 7.80% instead of 7.90% earlier, and super senior citizens will receive 7.95%, from the previous interest rate of 8.05%. The 555-day FD tenure is under the IDBI Utsav FD scheme. On the 700-day Utsav FD tenure, the interest rate for general customers has been cut from 7.20% to 7%, senior citizens from 7.70% to 7.50%, and super senior citizens from 7.85% to 7.65%. The last day to invest in IDBI Bank Utsav FD is June 30, 2025. SBI Amrit Vrishti 444 days Special FD scheme The State Bank of India (SBI) has reintroduced its special Fixed Deposit scheme, "Amrit Vrishti," with a specific tenor of 444 days. However, the newly launched special FD offers a reduced interest rate by 20 basis points. This FD scheme is effective April 15, 2025. The 444-day FD scheme now offers an interest rate of 7.05% per annum for general citizens. Senior citizens are offered a 50-basis-point higher interest rate of 7.55% per annum. However, the bank has not mentioned any deadline yet.
