Senior citizens can earn up to 0.75 per cent additional interest rates under IDBI Naman Senior Citizen Fixed Deposits. The minimum deposit under this scheme is Rs 10,000. The maximum limit will go up to Rs 2 crore.
Under this scheme, senior citizens can get an interest rate of 7.50 per cent for fixed deposits maturing between one year and two years (except 444 days and 700 days). For FDs maturing between two years and three years, the interest rate will be 7.25 per cent for senior citizens. IDBI Bank offers an interest rate of 7 per cent for FDs maturing between three years and seven years. This limited-period offer is valid till March 31, 2022.
For fixed deposits of 444 days, senior citizens will get an interest rate of 7.9 per cent. Senior citizens will get an interest rate of 8 per cent for FDs maturing in 700 days. The offer of 700 days will be valid till March 31, 2023.