Due to the recent announcement of the Bank of the Reserve of India (RBI) on the reduction of the repo rate, banks are also reducing their interest rates in the fixed deposit schemes (FDS). The main banks such as SBI, HDFC Bank have already announced tariff cuts. Now, the IDBI Bank has announced new interest rates for its FD scheme. The bank has also extended the deadline for its UTSAV deposit scheme until April 30, 2025.
Meanwhile, the IDBI bank has also discontinued its partner or their special FDS. These include 300 and 375 days FD holdings.
In particular, the RBI of April 9, 2025 reduced the repository rate by 25 basic points, which reduces it from 6.25 percent to 6 percent.
Read more: SBI reduces the interest rate in loan and fixed deposits at up to 25 bp; Know how you can benefit it
IDBI reviewed FD rates
444 days tenure FD: According to the revised rates, the bank will now provide an interest rate of 7.25 percent for general citizens, 7.75 percent for older people and 7.90 percent for older people.
555 days of FD possession: The Bank will grant an interest rate of 7.30 percent for general citizens, 7.80 percent for older people and 7.95 percent for older people.
700 -day possession FD: The bank will now provide an interest rate of 7 percent for general citizens, 7.50 percent for older people and 7.65 percent for older people.
Icici Bank FD rates
Icici Bank has also reduced its FD rates for different holdings. Take a look at the reviewed FD rates:
15 to 18 months of FD possession: 6.8% (trimmed by 45 basic points)
18 months to 2 years of FD possession: 7.05% (cut by 20 basic points)
2 years 1 day to 5 years of FD possession: 6.9%
5 years 1 day to 10 years of FD tenure: 6.8%
5 -year Tenure Tax Savator FD: 6.9%
Also read: RBI Repo Rate Reduction Rate: HDFC Bank, Canara Bank, Bank of India and other banks reduce interest rates in loans and FDS
