IDBI Bank NRO/NRE/FCNR FD Rates
Non-resident Indians (NRIs) are offered the facility to open fixed deposits accounts with IDBI Bank. The interest rates offered by the lender are attractive and you can opt for monthly, quarterly or cumulative interest payout on maturity for NRE and NRO FDs while for FCNR deposits the option for half-yearly and cumulative interest credit is available.
The bank allows the opening of a term deposit account for a period that ranges between 7 days and 10 years.
IDBI Bank NRE FD Rates
The interest rates offered on NRE fixed deposit by the bank are listed in the table below:
Tenure | Interest Rate for General Public (p.a.) |
1 year | 6.80% |
1 Year to 2 Years(except 444 Days Days) | 6.80% |
> 2 Years to < 3 Years | 7.00% |
3 years to < 5years | 6.50% |
5 years | 6.50% |
> 5 years to 7 years | 6.25% |
>7 years to 10 years | 6.25% |
*The IDBI Bank NRE Deposit interest rates are subject to change at the discretion of the bank. The rates of interest in this table are effective as of 15 August 2024.
IDBI Bank NRO Fixed Deposit Rates
For opening a NRO fixed deposit account, the interest rates offered by IDBI Bank on deposits below Rs.2 crore are mentioned in the table below:
Maturity Slab | Interest Rates (% p.a.) |
07-14 days | 3.00 |
15-30 days | 3.00 |
31-45 days | 3.25 |
46- 60 days | 4.50 |
61-90 days | 4.75 |
91-6 months | 5.50 |
6 months 1 day to 270 days | 6.00 |
271 days up to < 1 year (except 300 Days) | 6.25 |
1 year | 6.80 |
>1 Year to 2 Years(except 375, 444 and 700 Days) | 6.80 |
> 2 Years to < 3 Years | 7.00 |
3 years to < 5years | 6.50 |
5 years | 6.50 |
> 5 years to 7 years | 6.25 |
>7 years to 10 years | 6.25 |
*The IDBI Bank NRO Deposit interest rates are subject to change at the discretion of the bank. The rates of interest in this table are effective as of 15 August 2024.
Highest IDBI Bank NRO deposit rates
IDBI Bank offers 6.80% p.a. on NRO term deposit having a deposit tenure that ranges between 1 year and 2 years. This is the highest interest rate offered by the bank for opening a NRO fixed deposit.
IDBI Bank FCNR (B) Deposit Rates
The interest rates for FCNR term deposit are provided below:
Maturity Slab | USD (up to $2 Mio) | GBP | EUR | AUD | CAD | JPY* | SGD | HKD | CHF |
1 yr to less than 2 yrs | 5.65% | 5.10% | 3.70% | 4.35% | 4.37% | 0.61% | 3.06% | 1.00% | 0.50% |
2 yrs to less than 3 yrs | 4.50% | 4.80% | 2.70% | 4.35% | 4.07% | 0.25% | 3.01% | 1.00% | N.A. |
3 yrs to less than 4 yrs | 4.10% | 4.25% | 2.26% | 4.20% | 3.72% | 0.10% | 1.73% | 1.00% | N.A. |
4 yrs to less than 5 yrs | 3.90% | 3.75% | 2.26% | 4.14% | 3.50% | 0.10% | 0.73% | 1.00% | N.A. |
5 years only | 3.90% | 3.75% | 2.26% | 4.27% | 3.37% | 0.10% | 0.73% | 1.00% | N.A. |
Note: IDBI Bank NRO FD rates are effective from 1 August 2024. It must be noted here that the rates are subject to change as per the discretion of the bank.
IDBI Bank RFC Deposit Rates
IDBI Bank's RFC fixed deposit rates are as given below:
MATURITY SLAB | USD | GBP | EUR | JPY |
6 Months 1 day < 1 Year | 5.60% | 5.05% | 2.06% | 0.08% |
1 Year < 2 Years | 5.65% | 5.10% | 3.70% | 0.61% |
2 Years < 3 Years | 5.00% | 4.80% | 2.70% | 0.25% |
3 Years Only | 4.60% | 4.25% | 2.50% | 0.10% |
Note: IDBI Bank NRO FD rates are effective from 1 August 2024. It must be noted here that the rates are subject to change as per the discretion of the bank.
FAQs on IDBI Bank NRI FD Rates
- What is the highest interest rate I can earn on an IDBI NRE fixed deposit?
Currently, you can earn a maximum of 5.10% interest for a tenure of 12 months up to 120 months.
- What is the FCNR interest rate for the Euro for a period of 60 months?
The interest rate is 0.14%.
- As a senior citizen, do I get special interest rates when I open a fixed deposit with IDBI Bank?
Yes, IDBI Bank offers 0.5% interest rate higher for senior citizens on fixed deposits.
- Am I allowed to take a loan against my tax-saving fixed deposit?
You cannot take a loan against your tax saving deposit or prematurely withdraw a tax-saving fixed deposit.
- Do I have to submit my PAN card when I open an IDBI fixed deposit account?
No, it is not compulsory. However, keep in mind that without a PAN card, you have to pay a TDS of 20%. If you submit your PAN card, the TDS is 10%.
- Am I allowed to take a loan against an NRO, NRE, and/or FCNR fixed deposit with IDBI Bank?
Yes, you can take a loan against an NRO, NRE, and/or FCNR IDBI fixed deposit.
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