This article offers a brief summary of the key aspects of the IDBI Bank’s Floating Rate Fixed Deposit schemes. Since these details are subject to frequent updates, please refer to the bank’s official website for the most current information on features and interest rates.
IDBI Bank – Floating Rate Fixed Deposit Features:
- Individuals, either singly or jointly, minors (acting themselves or through guardians), and HUF Kartas are eligible to invest.
- Begin with Rs. 10,000 and invest further in multiples of Rs. 1,000, up to an amount less than Rs. 1 crore.
- The interest rate is floating and not predetermined, unlike a regular fixed deposit.
- The COD doesn’t have a predetermined maturity value.
- It’s tied to the average yield from the 91-Days Treasury Bills Auctions conducted by RBI in the preceding three months, resetting every calendar quarter.
How to invest?
Click here to invest in the IDBI Bank’s Floating Rate Fixed Deposit schemes.
Note: The information presented here is sourced from publicly available data. We cannot be held responsible for any inaccuracies in the details. For the most current and accurate information, please visit the official website of the respective bank/institution.