IDBI Bank Fixed Deposit (FD) offers a smart choice to help you grow your savings safely and reliably. With attractive IDBI bank FD rates, this investment option lets your financial earnings be invested in the best way possible. Whether you’re a senior citizen or not, IDBI Bank caters to your needs with special IDBI bank FD rates for senior citizens. Worried about calculations? Read on to know the benefits of IDBI Bank FD and watch your savings flourish.
Refer to the following table for an in-depth analysis of IDBI fixed deposit rates:
Maturity Slab | General Customers | Senior Citizens |
0 to 6 Days | NA | NA |
7 to 30 days | 3% | 3.5% |
31 to 45 days | 3.25% | 3.75% |
46 to 90 days | 4% | 4.5% |
91 days to 6 months | 4.5% | 5 |
6 months 1 day to < 1 year | 5.75% | 6.25% |
1 year to 2 years (except 375 to 444 days) | 6.8% | 7.3% |
2 Years to 5 years | 6.5% | 7% |
5 years to 10 years | 6.25% | 6.75% |
10 years to 20 years | 4.8% | 5.3% |
Eligibility Criteria for IDBI Bank FD Accounts
The following groups are eligible to start fixed deposit investments in IDBI Bank:
- Charity or educational organisations
- HUF (Hindu Undivided Families)
- Senior citizens
- Partnerships and sole proprietorships firms
- People with NRE and NRO accounts
- Both regular customers and joint account holders
- Minors (also eligible to apply)
Documentation Required for IDBI Bank FD Accounts
For IDBI fixed deposits, appropriate identification and address proof are required. Both seniors and minors must show identification of age and address. Here is a list of documents required for IDBI fixed deposits:
- An application form
- Voter identification, a PAN card, an Aadhaar card, a driver’s licence, etc., as proof of photo IDs
- Utility bills, a driver’s licence, an Aadhaar card, and other documents as address-proof documents
- PAN card
- Age verification documents, such as birth certificates and PAN cards
- Passport-size images.
IDBI Bank FD Schemes
The following are the types of IDBI Bank fixed deposit schemes:
- IDBI Bank Floating Rate Term Deposit
- Systematic Savings Plan Plus (SSP Plus)
- IDBI Bank Naman Senior Citizen Fixed Deposit
- IDBI Bank Amrit Mahotsav FD
- Suvidha Fixed Deposit Advantage
- Suvidha Tax Saving Fixed Deposit
For more details, refer to the following table:
Scheme | Tenure | Deposit | Premature Withdrawal | Other Features |
Suvidha Fixed Deposit Advantage | 7 days to 20 years | ₹10,000 | Available with a penalty | Overdraft, Auto-Renewal, Sweep In Facility |
Suvidha Tax Saving Fixed Deposit | 5 years | ₹10,000 – 1,50,000 | N/A | Loan Facility, Lump Sum Payout after 5 years |
Systematic Savings Plan Plus | 1 – 10 years | ₹2 crore | N/A | Nomination Facility |
IDBI Bank Floating Rate Term Deposit | 1 – 10 years | Less than ₹1 crore | After 1 year, with a penalty | Auto-Renewal, Loan/Overdraft Facility |
IDBI Bank Naman Senior Citizen Fixed Deposit | N/A | N/A | Allowed, with a penalty | N/A |
IDBI Bank Amrit Mahotsav FD | 44 days and 700 days | N/A | Allowed | Limited-Period Scheme |
What are IDBI Bank FD Interest Rates for Deposits > 2 Crores?
You must check out the following table for a better understanding of IDBI Bank interest rates for deposits greater than ₹2 crores:
Slab of Maturity | ₹2 to 5 crores | ₹5 to 10 crores | ₹10 to 500 crores |
7 to 14 days | 5.16% | 5.25% | 6.16- 6.41% |
15 to 30 days | 5.26% | 5.66% | 6.16- 6.51% |
31 to 45 days | 5.46% | 5.66% | 6.36- 6.56% |
46 to 90 days | 6.56% | 6.56% | 6.81% |
91 to 180 days | 6.91% | 6.91% | 6.91- 7.10% |
181 to 250 days | 6.96% | 7.01% | 7.01% |
251 to 270 days | 7.01% | 7.01% | 7.01% |
271 days to < 1 year | 7.01% | 7.01% | 7.01- 7.10% |
1 year | 7.27% | 7.27% | 7.27% |
>1 year to 1 year 3 months | 7.27% | 7.27% | 7.27% |
>1 year 3 months – 2 years | 7.11% | 7.11% | 7.11% |
>2 years- 36 months | 7.06% | 7.06% | 7.06% |
>36 months- 5 years | 6.76% | 6.76% | 6.76% |
> 5-years- 7 years | 6.66% | 6.66% | 6.66% |
>7 years- 10 years | 6.56% | 6.56% | 6.56% |
What are IDBI Bank FD Interest Rates for Deposits < 2 Crores?
The following table lists IDBI fixed deposit interest rates for deposits <2 crores. It also features variant interest rates for general customers and senior citizens.
Maturity Slab | General Customers | Senior Citizens |
0 to 6 Days | NA | NA |
7 to 30 days | 3 | 3.5 |
31 to 45 days | 3.25 | 3.75 |
46 to 90 days | 4 | 4.5 |
91days to 6 months | 4.5 | 5 |
6 months 1 day to < 1 year | 5.75 | 6.25 |
1 Year to 2 Years (except 375 -444 Days) | 6.8 | 7.3 |
> 2 Years to 5 years | 6.5 | 7 |
> 5 years to 10 years | 6.25 | 6.75 |
>10 years to 20 years | 4.8 | 5.3 |
Interest Rates for Domestic/ NRO / NRE Fixed Deposits
Table 1 shows the interest rates for Non-Resident Ordinary (NRO) Fixed Deposits based on different maturity periods. It helps to offer investors a clear understanding of the returns they can expect on their NRO Fixed Deposits.
Maturity Slab | Interest Rate for NRO (% Per Annum) |
7 to 14 days | 3 |
15 to 30 days | 3 |
31 to 45 days | 3.25 |
46 to 60 days | 4 |
61 to 90 days | 4 |
91 days to 6 months | 4.5 |
6 months 1 day to 270 days | 5.75 |
271 days up to < 1 year | 5.75 |
1 year | 6.8 |
>1 year to 2 years(except 444 Days) | 6.8 |
> 2 years to < 3 years | 6.5 |
3 years to < 5 years | 6.5 |
5 years | 6.5 |
> 5 years to 7 years | 6.25 |
>7 years to 10 years | 6.25 |
Table 2 displays the interest rates for Non-Resident External (NRE) fixed deposits corresponding to different maturity periods.
Maturity Slab | Interest Rate for NRE (% p.a.) |
1 year | 6.8 |
> 1 year to 2 years (except 444 Days) | 6.8 |
> 2 years to < 3 years | 6.5 |
3 years to < 5 years | 6.5 |
5 years | 6.5 |
> 5 years to 7 years | 6.25 |
>7 years to 10 years | 6.25 |
Table 3 displays the interest rates for Domestic Fixed Deposits respective to different maturity periods.
Saving Balance | Rate of Interest (% p.a.) |
Upto Rs 5 crores | 3 |
Above Rs 5 crores up to Rs 100 crores | 3.25 |
Above Rs 100 crores | 3.5 |
Summing Up
IDBI Bank fixed deposit stands to be one of the best investment solutions with its competitive FD rates and exclusive offers for senior citizens.You can even plan your financial growth by using the convenient IDBI FD calculator. With IDBI Bank’s trustworthy reputation, your money is in safe hands to ensure your peace of mind.
IDBI Fixed Deposit FAQ’s :-
The minimum amount to open an FD account at IDBI Bank is Rs 10,000. However, eligibility criteria must be checked before opening an account.
Once the account is opened with a specific deposit amount, no more funds are allowed to be deposited.
Yes. Your IDBI FD account can be opened online.
You can open an FD account with IDBI Bank as a resident individual, a HUF (Hindu Undivided Family), an NRI (Non-resident Indian), a company, or a minor.