IDBI hikes deposit rates

IDBI bank has hiked interest rate on Suvidha fixed deposit by 25-75 basis points across all maturities. The hike will come into effect from January 17. For deposits upto Rs.15 lakkh, a deposit having a tenor of 1-3 years , the rate has been hiked to 8% ( prev 7.25 to 7.5%). Deposit with tenor ranging from 3-10 years, will now fetch an interst rate of 8.25% ( prev 8%). For deposits of Rs.15 lakh to Rs.100 lakh, will fetch interest of 8.75% (prev 8.50%) Senior citizens will be paid an additional 1% interest on deposits upto Rs.15 lakh.