This state bank has given good news, now 444 days FD will get 7.85% interest till 30th September.

New Delhi. If you are thinking of investing in Fixed Deposit i.e. FD then this news is useful for you. In fact, public sector bank IDBI Bank on Tuesday raised the interest rate on 444-day FD to 7.85 percent. This increase is for a limited period and is valid till September 30, 2024.

IDBI Bank said in a statement that fixed deposits with tenors of 444 days and 375 days will now carry interest at the rate of 7.85 percent and 7.75 percent per annum respectively.

How to book Utsav FD
The bank said this increase makes ‘Utso FD’ more attractive to customers looking for higher yields. The offer is valid till September 30, 2024, according to the statement. Customers can easily avail Utsav FD through the bank’s website or mobile banking app or through any branch of the bank.

7.70% interest for a period of 700 days
Additionally, IDBI Bank will continue to offer competitive rates on other special tenures under the Utsav FD scheme. Under this, interest is paid at a maximum rate of 7.70 per cent for a period of 700 days, while it is 7.55 per cent for a period of 300 days.

Deposit growth slows down.
Let us tell you that the slow pace of deposit growth in banks has created worry lines on the foreheads of the banks as well as the government. Meanwhile, many banks have come up with special FD schemes to encourage customers to deposit more money with them. For example, SBI has launched the ‘Amrit Varshti’ scheme, in which the bank is offering 7.25 per cent interest for 444 days. Similarly, Bank of Baroda has launched the ‘Monsoon Blast’ deposit scheme, offering interest rates of 7.25 per cent for 399 days and 7.15 per cent for 333 days.

Tags: Bank FD, FD Rates, Fixed Deposits