IDBI Bank Revises Interest Rates on Savings Accounts: Latest Rates Here

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Investment

oi-Vipul Das

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IDBI Bank offers a choice of savings accounts to customers who want better interest rates on their deposits, combined with deposit insurance up to Rs 5 lakhs guaranteed by the Deposit Insurance and Credit Guarantee Company (DICGC). To meet different types of customers and their needs, IDBI Bank offers a range of savings account options such as Super Savings Account, Super Savings Plus Account, SuperShakti Women’s Account, Jubilee Plus Senior Citizen Account, Being My Account, Power Kids Account, Savings Account using Video KYC, Small Account – Relaxed KYC, Sabka Basics Savings Account, Pension Savings Account and Capital Gain Account Scheme. The bank recently updated the interest rates on its savings accounts, which we’ll get into in more detail below.

IDBI Bank Savings Account Interest Rate

IDBI Bank updated the interest rates on its savings account on October 25, 2021 and now offers a rate of 3.00 percent on daily balances up to Rs 5 crore, 3.5 percent on daily balances between Rs 5 crore and Rs 100 crore, and 3.5 percent on balances over Rs 100 crore. Recent rates on savings accounts are as follows:

Savings balance Interest rate (% pa)
Up to Rs. 5 Cr 3
Above Rs.5 Cr up to Rs.100 Cr 3.25
Above Rs. 100 Cr 3.35
Source: Bank website, Banque d’Épargne rate (wk 25 October 2021)

IDBI Bank currently has more than 1,890 branches, more than 3,300 ATMs across the country and a balance sheet of Rs 2,977,764 as of March 31, 2021.

Article first published: Thursday, October 28, 2021, 12:59 PM [IST]


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