IDBI Bank FD Interest Rates

IDBI Bank offers Suvidha fixed deposits that allows individuals to invest a certain amount of money for a fixed tenure at a predetermined interest rate. This low risk investment option provides capital protection and assured returns on secured investment.

IDBI Bank FD rates range from 3.00% to 7.00% p.a. to regular individuals and 3.50% to 7.50% p.a. to senior citizen investors. The bank offers both domestic and investments in NRE, RFC, FCNR (B) and NRO accounts for NRIs. Now invest more with better financial goals & gain more with better opportunities.

IDBI FD Rates 2024 (Below 2 Crores)

The table below displays IDBI FD rates offered according to different FD tenures for deposit amounts below Rs. 2 crores under the current assets.

IDBI Senior Citizen FD Rates

The bank offers a special rate for senior citizens which is 0.50% higher than the rate offered to regular depositors. The IDBI FD interest rates for senior citizens on deposits below 2 crores are given in the table below:

IDBI Utsav Callable Fixed Deposit Rates

The IDBI Utsav Callable deposit is a special fixed deposit scheme offered by the bank with tenures of 375 days and 444 days. It offers attractive interest rates for both regular and senior citizens making it a great option for short-term investment.

IDBI Utsav Callable FD Scheme

Also note that this FD scheme is callable (with premature withdrawal facility).

IDBI Special Non-Callable FD Scheme

The IDBI Utsav Callable deposit is a special fixed deposit scheme offered by the bank with tenures of 375 days and 444 days. It offers attractive interest rates for both regular and senior citizens making it a great option for short-term investment.

IDBI Utsav Callable FD Scheme

Also note that this FD scheme is non-callable (Pre-mature withdrawal / Closure not permitted) and the minimum deposit amount is above 1 Cr to less than 2 Cr.

IDBI Fixed Deposit Rates (Above 2 - 5 Crores)

IDBI offers bulk deposits of up to 500 crores above at competitive interest rates. The tables below shows the interest rates applicable for deposits of 2 - 5 crores (non-callable, notice and callable term deposits) to various FD tenures:

Callable FD for 2 - 5 crores:

Non-Callable Fixed Deposit 2 - 5 crores:

Notice Bulk Fixed Deposits for 2 - 5 crores:

IDBI FD Rates for NRI

IDBI Bank offers fixed deposits for Non-resident Indians to secure their savings and get assured returns in a predetermined period. The bank offers NRE, NRO, RFC and FCNR (B) accounts that offer attractive interest rates. The FD interest rates of IDBI Bank for RFC and FCNR (B) accounts range from 0.00% - 5.65% p.a.

The tables below will provide an overview of the interest rates offered in NRE and NRO accounts.

The IDBI Bank NRE FD rates on deposit below 2 crores are as follows:

The IDBI Bank NRO FD rates on deposit below 2 crores are as follows:

Features & Benefits of IDBI Fixed Deposit

The IDBI Bank FD account offers many features and benefits, these are:

• Flexible income options: The fixed deposit offers a great option for depositors who require interest income. Depositors can choose monthly, quarterly or annual interest payouts according to their financial needs. The interest amount is directly deposited into their savings account.
• Auto renewal option: IDBI Bank FD account offers an auto renewal option of their accounts upon maturity. This helps to ensure continuous interest being added to the account.
• Affordable deposit amount: At IDBI bank, you can open an FD account with a minimum investment amount of ₹10,000.
• Compound interest: Fixed deposit from IDBI Bank offers the option of compound interest, where the interest rate is compounded quarterly or annually, ensuring a higher rate of return.
• Sweep in savings: IDBI bank offers the option of the sweep in savings feature, where you can link multiple fixed deposits with your savings account. This helps depositors easily manage their funds. If the savings account balance is low, the depositor can easily access funds through a debit card or cheque. The feature also ensures that the most recent FD is broken to minimise potential loss of interest.
• Overdraft against Suvidha fixed deposit: This option offered by IDBI Bank allows depositors to retain their interest rates on FDs while meeting their urgent financial requirements. They can avail an overdraft account of up to 90% of the FD for deposits of ₹10,000 or higher at competitive rates. The overdraft is also given on the FD that is earning the least interest to minimise interest payout.
• Senior citizen Suvidha fixed deposit: The bank offers special benefits to senior citizens by providing higher interest of 0.50% p.a. above the regular interest rates. Senior citizens are also not charged a penalty for premature withdrawal of their FD accounts.

IDBI FD Account Eligibility

The eligibility requirements for IDBI fixed deposit accounts are:

• Must be individuals or joint account holders
• Senior citizens
• Hindu Undivided Families (HUFs)
• Firms
• Partnerships
• Sole proprietorships
• Non-resident Indians
• Minors
• Charitable institutions
• Educational institutions

Documents Required to Open IDBI Bank FD

Several documents are required to be submitted to open an FD account with IDBI bank, these are:

• PAN card
• Proof of identity documents
• Proof of address
• Proof of age
• Application form
• Passport size photographs

Premature Closure of IDBI Fixed Deposit

Closing the IDBI Bank FD early or withdrawing funds from the account before the maturity date will involve a penalty of 1% on the interest earned. The bank, however, offers special exception for senior citizens as they will not be charged a penalty fee on premature closure of the fixed deposit account.

Types of IDBI Fixed Deposits

IDBI offers several types of fixed deposit accounts that cater to the diverse financial requirements of depositors. The accounts offered by the bank are as follows:

Types of IDBI Fixed Deposits

This FD type is offered for domestic and NRI accounts, the features are as follows:

• Tenure for regular term deposit is 7 days to 20 years.
• Tenure for NRO accounts is 7 days to 10 years.
• The tenure for NRE accounts is 1 year to 10 years.
• The staff and senior citizen IDBI bank FD rates will not be applicable to NRO and NRE term deposits.
• For tenures below 7 days there will be no interest pay out.
• 1% penalty will be levied on the interest rates of FDs that are closed prematurely.

IDBI Utsav Fixed Deposits

This is a special fixed deposit scheme offered by IDBI for only up to 31st of March 2024. The features include:

• The tenure for this scheme is 375 days and 444 days.
• The interest rate offered for 375 days is 7.10% p.a. and the IDBI FD interest rate for the tenure of 444 days is 7.25% p.a.

IDBI Tax Saver Fixed Deposit

IDBI also offers the Tax saver fixed deposit scheme for a period of 5 years. The IDBI tax saver FD interest rate is 6.50% p.a. for regular citizens and 7.00% p.a. for senior citizens.