IDBI Bank cuts FD rates across special deposit, extends Utsav fixed deposit deadline

IDBI Bank has announced a revision in its fixed deposit (FD) interest rates and extended the deadline for its special fixed deposit scheme - Utsav Deposit. Earlier, the last date to invest in this scheme was April 30, 2025, but now investors have additional time to take advantage of the offering, albeit at slightly reduced interest rates.

As part of the latest update, the bank has discontinued two special FD tenures—300 days and 375 days—under the Utsav Deposit scheme. Simultaneously, it has reduced interest rates across key tenures, affecting general depositors, senior citizens, and super senior citizens under its IDBI Chiranjeev FD plan.

Also read: Now ICICI Bank cuts FD, savings account interest rates; check details

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%, 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%, down from 7.40%. Senior citizens will get 7.80%, reduced from 7.90%, and super senior citizens will receive 7.95%, down from 8.05%. On the 700-day tenure, the interest rate for general customers has been cut from 7.20% to 7%, for senior citizens from 7.70% to 7.50%, and for super senior citizens from 7.85% to 7.65%.

SBI cuts FD interest rates on select tenures; introduces revised ‘Amrit Vrishti’ scheme with lower interest rates

Latest IDBI Bank FD interest rates

Interest Rate (% p.a.)
Special Buckets	General/NRE/NRO	Senior Citizens
444 Days	7.25	7.75
555 Days	7.3	7.8
700 Days	7	7.5

IDBI Bank latest FD rates
IDBI Bank offers interest rates between 3% to 7% (excluding special deposits) for general citizens for deposits less than Rs 3 crore. For senior citizens, the bank offers between 3.50% to 7.50% for tenures between 7 days and 10 years. The revised rates are effective from April 16, 2025.

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