IDBI Bank Senior Citizen FD Rates

Industrial Development Bank of India (IDBI), a development finance institution, offers special term deposit schemes at attractive rates to individuals above 60 years. 

Updated On - 05 Sep 2025

The Senior Citizen Fixed Deposit scheme offered by IDBI bank is a notable investment plan that helps senior citizens to earn extra interest.

Read on to know more about IDBI Bank Senior Citizen Fixed Deposit. 

Features of IDBI Bank Senior Citizen Fixed Deposit 

The following are the features of this special FD scheme offered by IDBI bank: 

  1. Deposit amount starts from Rs.10,000 
  2. Additional interest rate up to 0.50% p.a. 
  3. Pre-mature withdrawals available 
  1. The amount and tenure determine the interest payable on premature withdrawal 
  2. Bank imposes 1% penalty for partial withdrawals and sweep-ins on the applicable rate 

Interest Rates of IDBI Bank Fixed Deposit for Senior Citizen

The interest rates for different tenures under this special FD scheme offered by IDBI bank are: 

Tenure  

Rate of Interest for General Public  

Rate of Interest for Senior Citizen  

0 days to 6 days  

NA  

NA  

7 days to 30 days  

3.00% p.a.  

3.50% p.a.  

31 days to 45 days  

3.25% p.a.  

3.75% p.a.  

46 days to 60 days  

4.50% p.a.  

5.00% p.a.  

61 days to 90 days  

4.75% p.a.  

5.25% p.a.  

91 days to 6 months  

5.50% p.a.  

6.00% p.a.  

6 months 1 day to 270 days  

5.75% p.a. 

6.25% p.a. 

271 days to < 1 year

6.00% p.a. 

6.50% p.a. 

1 year to 2 years (except 444 days, 555 days & 700 days)  

6.55% p.a. 

7.05% p.a. 

> 2 years to <3 years  

6.70% p.a. 

7.20% p.a. 

3 years to 5 years  

6.25% p.a. 

6.75% p.a. 

>5 years to 10 years  

5.95% p.a. 

7.20% p.a. 

>10 years to 20 years  

4.80% p.a.  

5.30% p.a.  

Tax Saving FD  

5 years  

6.25% p.a. 

6.75% p.a. 

Note: For senior citizens the additional interest rates would be 0.5% p.a. on deposits of other tenures.   

How to Apply for Naman Senior Citizen Fixed Deposit? 

Here are the steps to apply for Naman Senior Citizen FD scheme: 

  1. Call on the toll-free phone banking numbers- 1800-209-4324 and 1800-22-1070 
  2. Visit the nearest branch to apply for this FD scheme offline 

FAQs on IDBI Bank Senior Citizen Fixed Deposit

  • Does IDBI Bank's senior citizen FD save tax?

    Yes, senior citizen FD saves tax. Tax exempted on interest earned up to Rs.50,000 on FD in a financial year. 

  • Can I take loan against IDBI tax-saving fixed deposit scheme?

    No, you cannot take loan against the tax-saving fixed deposit scheme offered by IDBI. 

  • Is PAN card mandatory for opening senior citizen FD account?

    Yes, PAN card is mandatory for any Senior Citizen Saving Scheme. 

  • Do I need to provide age proof every time I open an FD as a senior citizen?

    Yes, age proof is necessary every time a senior citizen opens an FD with the bank. 

  • Are super-senior citizens offered additional rates over senior citizens for fixed deposits?

    Yes, super-senior citizens, those who are above 80 years of age, are offered additional rates over senior citizens on FDs, depending upon the bank or NBFC. 

  • Can I open senior citizen FD online?

    Yes, a senior citizen can open FD online depending upon the financial institution. 

  • Can a housewife open senior citizen FD jointly or singly?

    Yes, housewives can open FD account jointly with their spouses or individually with maximum deposit up to Rs.15 lakh each.

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