IDBI Chiranjeevi: FD For Super Senior Citizen

IDBI Bank has announced the launch of the ‘IDBI Chiranjeevi–Super Senior Citizen FD,’ a special Fixed Deposit product aimed at addressing the financial needs of individuals aged 80 years and above

Sumit Phakka, Deputy Managing Director at IDBI Bank

FinTech BizNews Service

Mumbai, January 13, 2025: IDBI Bank has announced the launch of the ‘IDBI Chiranjeevi–Super Senior Citizen FD,’ a special Fixed Deposit product aimed at addressing the financial needs of individuals aged 80 years and above. This initiative offers an additional 65 basis points (bps) over the Bank’s standard Fixed Deposit rates and 15 basis points (bps) over the Senior Citizen rates.

Key highlights of the offering include:

• Peak Interest Rate: 8.05% p.a. for a 555-day tenure
• Other Tenure Rates:
  • 7.90% p.a. for 375 days.
  • 8.00% p.a. for 444 days.
  • 7.85% p.a. for 700 days.

Speaking on the launch, Shri Sumit Phakka, Deputy Managing Director at IDBI Bank, said, “We are delighted to introduce ‘IDBI Chiranjeevi – Super Senior Citizen FD’, a product designed keeping the unique needs of super senior citizens in mind. This offer provides this esteemed segment with a safe and secure investing option, guaranteeing their financial security and peace of mind.”