What is IDBI’s Chiranjeevi Super Senior Citizen FD offering up to 8.05% interest? | Mint
Source: Live Mint
IDBI Bank launched Chiranjeevi Super Senior Citizen Fixed Deposit Scheme early this month to offer interest up to 8.05 percent per annum. Under this scheme, the bank offers slightly higher interest rate to super senior citizens i.e., those who are aged 80 years or above.
The highest fixed deposit interest offered to super senior citizens is 8.05 percent a year on 555-day tenure.
Interest offered on other tenure is as follows:
1) On 375-day period deposit, the bank offers an interest of 7.90 percent.
2) On 444-day period deposit, the bank offers 8 percent per annum.
3) On 700-day fixed deposit, the bank offers 7.85 percent per annum.
These rates will remain valid only for the duration of the respective Utsav FD buckets and came into force on Jan 13, 2025, the bank’s website states.
Senior citizens
Senior citizens, meanwhile, are offered 15 basis points lower interest on all tenures barring 300-day deposit where the interest of 7.55 percent remains the same. These rates came into force on Dec 23, 2024.
On 375-day tenure, senior citizens are offered 7.75 percent interest per annum, 15 basis points lower than what is offered to those above 80. On 444-day deposits, senior citizens are offered 7.85 per cent interest per annum. On 555-day deposits, senior citizens are given 7.90 percent per annum. And on 700-day tenure, senior citizens are offered 7.70 percent per annum.
Regular depositors are offered further 50 basis points lower interest. The interest rates are as follows:
SBI specific tenure plans
SBI also offers specific tenor schemes of 444 days and 400 days offering an attractive interest rate to depositors.
The specific tenor scheme of 444 days (Amrit Vrishti) offers 7.75 percent to senior citizens, and regular depositors are offered 50 basis points lower.
The specific tenor scheme of 400 days (Amrit Kalash) offers 7.60 percent to senior citizens whereas regular deposits are offered 7.10 percent. These SBI FD schemes are valid till March 31, 2025.
