Other banks like , , and , now . to follow IDBI Bank has launched a special Fixed deposit The plan is calledAmrit Mahotsav FDWith a maturity period of 500 days with a limited tenure offer. The new scheme comes with an interest rate of up to 6.70 per cent.

According to a tweet on

Official Twitter account, “Take Advantage of the Pinnacle Rate of interest With Bank’s Amrit Mahotsav Retail Fixed Deposit. Quick! Offer is valid till 30th September 2022.”

IDBI Bank offers interest rates ranging from 3.75 per cent to 5.80 per cent, with tenures ranging from 31 days to ten years. Under the Amrit Mahotsav FD scheme, IDBI Bank customers with deposits below Rs 15 lakh will get 6.10 per cent interest on deposits of 500 days. The interest rate is 6.20 per cent for amounts above Rs 15 lakh (non-callable).

According to the bank’s website, senior citizens will receive a normal mark-up of 0.50% only, while retired senior citizen employees will receive a normal mark-up of 1%.

General Terms and Conditions of “Amrit Mahotsav FD” Scheme

• For non-refundable deposits- “Premature withdrawal / closure is not allowed”.
• Naman Senior Citizen rates are not allowed for ‘Amrit Mahotsav Fixed Deposit’ of 500 days and 1100 days.
• The Bank reserves the right to foreclose the non-refundable FDs used as collateral security in case of loan/overdraft accounts failing to pay interest regularly.
• Staff and Senior Citizen rates are not applicable to NRO and NRE term deposits.
• All other features of Fixed Deposit as well as terms and conditions shall remain unchanged and shall be applicable for the above scheme also.