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IDBI Bank offers the Floating Rate Fixed Deposit scheme, where the interest rates are periodically reset over the tenure. Under the scheme, you can take advantage of any interest rate changes without closing the Fixed Deposit.
The main features of the Floating Rate Term Deposit are mentioned below:
The main benefits of the Floating Rate Term Deposit are mentioned below:
Average of Weighted Avg. Yield of 91-Days Treasury Bill Auction undertaken by RBI for Quarter | Anchor Rate | Anchor Rate applicable for Quarter |
---|---|---|
1 January 2019 – 31 March 2019 | 6.47% | 1 April 2019 – 30 June 2019 |
1 April 2019 – 30 June 2019 | 6.24% | 1 July 2019 – 30 September 2019 |
1 July 2019 – 30 September 2019 | 5.55% | 1 October 2019 – 31 December 2019 |
1 October 2019 – 31 December 2019 | 5.05% | 1 January 2020 – 31 March 2020 |
1 January 2020 – 31 March 2020 | 5.00% | 1 April 2020 – 30 June 2020 |
1 April 2020 – 30 June 2020 | 3.54% | 1 July 2020 – 30 September 2020 |
1 July 2020 – 30 September 2020 | 3.24% | 1 October 2020 – 31 December 2020 |
1 October 2020 – 31 December 2020 | 3.12% | 1 January 2021 – 31 March 2021 |
1 January 2021 – 31 March 2021 | 3.27% | 1 April 2021 – 30 June 2021 |
The different ways by which you can apply for the fixed deposit are mentioned below:
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Psst... We'll ensure you're the very first to know the moment rates change.
We'll email you immediately! You snooze, you lose.