IDBI Bank Launches Chiranjeevi-Super Senior Citizen FD With Up to 8% Returns

The "IDBI Chiranjeevi-Super Senior Citizen FD," an exclusive fixed deposit product designed to meet the financial needs of super senior citizens 80 years of age and above, has been introduced by IDBI Bank. This program provides 15 basis points (bps) more than the Senior Citizen rates and an additional 65 basis points (bps) over the Bank's regular Fixed Deposit rates.

IDBI Chiranjeevi-Super Senior Citizen FD Rates

Key highlights of the scheme include:

• Peak Interest Rate: 8.05% p.a. for a 555-day tenure
• Other Tenure Rates:
◦ 7.90% p.a. for 375 days.
◦ 8.00% p.a. for 444 days.
◦ 7.85% p.a. for 700 days.

Shri Sumit Phakka, Deputy Managing Director at IDBI Bank, said, "We are delighted to introduce 'IDBI Chiranjeevi - Super Senior Citizen FD', a product designed keeping the unique needs of super senior citizens in mind. This offer provides this esteemed segment with a safe and secure investing option, guaranteeing their financial security and peace of mind."

General Terms and Conditions of IDBI Chiranjeevi-Super Senior Citizen FD

As per the official website of IDBI Bank, here are the term and conditions for IDBI Chiranjeevi-Super Senior Citizen FD scheme:

• Rates applicable only for resident super senior citizens aged 80 years and above
• Premature withdrawal / closure permitted.
• Retired Staff Super Senior Citizen & General Super Senior Citizen Rates are not applicable to NRO & NRE term Deposits.
• IDBI Chiranjeevi-Super Senior Citizen FD rates will remain valid only for the duration of the respective Utsav FD buckets.
• All other features of term deposit as well as terms and conditions shall remain unchanged and are applicable for the above scheme also.

IDBI Bank Q3 Results Date

"In terms of Regulations 29 & 50 of the SEBI (LODR) Regulations, 2015, it is hereby informed that a meeting of the Board of Directors of IDBI Bank Ltd. will be held on Monday, January 20, 2025, to consider and approve the Un-audited Financial Results of the Bank for the quarter and nine months ended December 31, 2024 subject to a Limited Review by the Statutory Auditors," said IDBI Bank in a stock exchange filing.

IDBI Bank FD Rates

The recently revised FD rates of IDBI Bank are effective as of December 23, 2024. The bank is giving an interest rate of 3.00% for deposits under Rs. 3 crore with a duration of 7-30 days and 3.25% for deposits with a duration of 31-45 days. For deposits due between 46 and 60 days, IDBI Bank will give an interest rate of 4.50%; for deposits maturing between 61 and 90 days, the rate will be 4.75%.

The interest rate on fixed deposits at IDBI Bank that mature in 91 days to 6 months is 5.50%, while the interest rate on deposits that mature in 6 months 1 day to 270 days is 6%. On FDs maturing in 271 days to 1 year (except 300 Days), the bank will offer 6.25% interest and on those maturing in 1 Year to 2 Years (except 375 Days,444 Days, 555 days & 700 Days), IDBI Bank will offer 6.80% interest.

At IDBI Bank, fixed deposits that mature in two to three years will yield an interest rate of 7.00%, while those that mature in three to five years will yield an interest rate of 6.50%. IDBI Bank is paying 6.25% interest on term deposits with maturities ranging from five to ten years, and it will guarantee 6.50% returns on tax-saving deposits with maturities of five years.