Another great news for Senior Citizens of India. IDBI Bank has rolled out a fantastic scheme specifically for super senior citizens. This program allows them to enjoy a secure investment option with impressive returns of up to 8.05 percent. Those aged 80 and above can take advantage of IDBI Bank’s Chiranjeevi Super Senior Citizen Fixed Deposit Scheme, which offers an annual interest rate of 8.05% on fixed deposits lasting 555 days.
Check out the interest rates here:
1) For a 375-day deposit, the bank provides an interest rate of 7.90 percent.
2) For a 444-day deposit, the rate is 8 percent per annum.
3) For a 700-day fixed deposit, the interest rate is 7.85 percent per annum.
These rates are applicable only for the specified Utsav FD periods and became effective on January 13, 2025, according to the bank’s website.
Senior citizens are now receiving an interest rate that is 15 basis points lower across all tenures, except for the 300-day deposit, which maintains an interest rate of 7.55 percent. These new rates took effect on December 23, 2024.
For a 375-day tenure, senior citizens can earn an interest rate of 7.75 percent per annum, which is 15 basis points less than what is available for those over 80. On 444-day deposits, the interest rate for senior citizens is set at 7.85 percent per annum. For 555-day deposits, they receive 7.90 percent per annum, and for a 700-day tenure, the rate is 7.70 percent per annum.
In contrast, regular depositors are offered an interest rate that is an additional 50 basis points lower.
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