IDBI Bank again extends Amrit Mahotsav FD

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IDBI Bank has again extended the deadline of the special fixed deposit scheme launched earlier to commemorate India’s Azadi Ka Amrit Mahotsav. Depositors get higher interest rate on such special fixed deposit schemes launched by various banks in the past. IDBI Bank has extended deadline of Amrit Mahotsav FD scheme to October 31, 2023 as a festive gift to its depositors. The public lender gives the option of opening fixed deposits under the Amrit Mahotsav FD for two tenures. One is of 375 days and the other is of 444 days. On 375 days FD, general citizens get 7.10 percent rate of interest while senior citizens get 7.60 per cent. On 444 days FD, general citizens get 7.15 percent rate of interest while senior citizens get 7.65 per cent.

Other banks which had earlier launched similar special fixed deposit schemes on which depositors get higher interest rate:

The State Bank of India had launched the Amrit Kalash scheme. The deadline is December 31, 2023. The public sector bank pays 7.10% interest rate to depositors under this special fixed deposit scheme. The tenure of the Amrit Kalash scheme is 400 days. Senior citizens get 7.60% interest rate.

Indian Bank’s “IND SUPER 400 DAYS” gives 7.25 per cent rate of interest on FDs of 400 days to general citizens. Elderly will get 7.75 per cent. The scheme is valid till end of September 2023. The public lender had launched another such special fixed deposit scheme. It was ‘Ind Supreme 300 Days’. General citizens get 7.05 per cent interest rate on FDs of 300 days under this special fixed deposit scheme. While, elderly will get 7.55 per cent interest rate. Both these schemes will expire on October 31, 2023.

Punjab & Sind Bank also gives higher interest rate on similar special fixed deposit schemes. The public lender also gives option of two different tenures to open an FD.

First is of 400 days, where, general citizens will get 7.10 percent rate of interest. And, the other tenure is of 601 days, where, general citizens will get 7.00 percent interest rate. Senior citizens will get 7.60 per cent interest on 400 days FD. And 7.50 per cent interest rate on 601 days FD.

Both these schemes are valid till September 30, 2023.