Fixed deposit (FD) interest rates are on a downward trend in April 2025, with multiple banks revising their offerings. IDBI Bank and Ujjivan Small Finance Bank have both cut rates on select tenures while extending deadlines or modifying associated schemes.
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IDBI Bank has reduced interest rates on its Utsav Special Fixed Deposit scheme while extending the last date to invest from April 30 to June 30, 2025.
The bank has adjusted rates across three special tenures—444 days, 555 days, and 700 days.
For the 444-day tenure, general customers will now earn 7.25% interest per annum, down from 7.35%. Senior citizens will receive 7.75% (earlier 7.85%), while super senior citizens under the Chiranjeev FD category will get 7.90% (earlier 8%).
On the 555-day deposit, general interest rates stand revised at 7.30% from 7.40%. Senior citizens will earn 7.80% instead of 7.90%, and super senior citizens will now get 7.95%, down from 8.05%.
The 700-day FD will now offer 7% for general customers (earlier 7.20%), 7.50% for senior citizens (earlier 7.70%), and 7.65% for super senior citizens (earlier 7.85%).
Alongside these cuts, IDBI Bank has discontinued the special deposit options for 300 and 375 days. The revised rates took effect from April 16, 2025.
Here are the latest interest rates on IDBI Bank’s regular retail term deposits (less than ₹3 crore):
| Maturity Slab | General Customers | Senior Citizens |
| 7 – 30 days | 3.00% | 3.50% |
| 31 – 45 days | 3.25% | 3.75% |
| 46 – 60 days | 4.50% | 5.00% |
| 61 – 90 days | 4.75% | 5.25% |
| 91 days to 6 months | 5.50% | 6.00% |
| 6 months 1 day to < 270 days | 6.00% | 6.50% |
| 271 days to < 1 year | 6.25% | 6.75% |
| 1 year to 2 years (excluding special tenures) | 6.80% | 7.30% |
| > 2 years to < 3 years | 7.00% | 7.50% |
| 3 years to 5 years | 6.50% | 7.00% |
| > 5 years to 10 years | 6.25% | 6.75% |
| > 10 years to 20 years | 4.80% | 5.30% |
| Tax Saving FD (5 years) | 6.50% | 7.00% |
(Source: IDBI Bank)
On the other hand, Ujjivan Small Finance Bank has reduced FD interest rates by up to 20 basis points (bps) on select tenures for deposits below ₹3 crore, effective April 24, 2025.
For FDs between 12 months and less than 18 months, the rate has been revised to 7.90% from 8.10%. The 18-month FD now fetches 8.05%, down from 8.25%. Senior citizens continue to receive an additional 0.50% interest on all tenures.
Here are the latest Ujjivan SFB FD interest rates for general customers:
| Tenure | Interest Rate (p.a.) |
| 7 days to 29 days | 3.75% |
| 30 days to 89 days | 4.25% |
| 90 days to 180 days | 4.75% |
| 6 months to < 12 months | 7.00% |
| 12 months to < 18 months | 7.90% |
| 18 months | 8.05% |
| 18 months 1 day to 990 days | 7.75% |
| 991 days to 60 months | 7.20% |
| 60 months 1 day to 120 months | 6.50% |
(Source: Ujjivan Small Finance Bank)
Senior citizens earn 0.50% more across all tenures.
The bank has also revised its savings account interest rates. The rate depends on the account balance and is paid quarterly.
IDBI Bank and Ujjivan SFB are not alone. Several banks, including Kotak Mahindra Bank, Axis Bank, SBI, HDFC Bank and Yes Bank have lowered deposit rates in April.
