IDBI Bank Fixed Deposit Rates 2021

IDBI Bank offers the Suvidha Fixed Deposit scheme with interest rates ranging between 2.70% and 5.25% p.a. with a tenure ranging between 7 days and 20 years. Senior citizens are offered an additional interest rate as well.

Domestic Term Deposits Less than Rs.2 crore

Tenure bucket Regular FD rates (per annum) Senior Citizens FD rates (per annum)
7 days to 14 days 2.70% p.a. 3.20% p.a.
15 days to 30 days 2.70% p.a. 3.20% p.a.
31 days to 45 days 2.80% p.a. 3.30% p.a.
46 days to 60 days 3.00% p.a. 3.50% p.a.
61 days to 90 days 3.00% p.a. 3.50% p.a.
91 days to 6 months 3.50% p.a. 4.00% p.a.
6 months 1 day to 270 days 4.30% p.a. 4.80% p.a.
271 days to up to less than 1 year 4.30% p.a. 4.80% p.a.
1 year 5.05% p.a. 5.55% p.a.
Above 1 year to 2 years 5.15% p.a. 5.65% p.a.
Above 2 years up to 3 years 5.20% p.a. 5.70% p.a.
3 years up to 5 years 5.40% p.a. 5.90% p.a.
5 years 5.25% p.a. 5.75% p.a.
Above 5 years to 7 years 5.25% p.a. 5.75% p.a.
Above 7 years up to 10 years 5.25% p.a. 5.75% p.a.
Above 10 years up to 20 years 4.80% p.a. 5.30% p.a.

*The IDBI Bank Fixed Deposit rates tend to change at the bank’s discretion. The rates given here are valid as of 16 August 2021.

IDBI Bank Suvidha Tax Saving Fixed Deposit Rates

Maturity Period Interest Rate for General Public (p.a.) Interest Rate for Senior Citizens (p.a.)
5 years 5.25% 5.75%

*The IDBI Bank Suvidha Tax Saving Deposit interest rates are subject to change at the discretion of the bank. The rates of interest in this table are effective as of 16 August 2021.

IDBI Bank NRI Fixed Deposit Rates

IDBI Bank NRE FD Rates

Tenure Interest Rate for General Public (p.a.)
1 year 5.05%
1 year 1 day to 2 years 5.15%
2 years 1 day to less than 3 years 5.20%
3 years to less than 5 years 5.40%
5 years 5.25%
5 years 1 day to 7 years 5.25%
7 years 1 day to 10 years 5.25%

*The IDBI Bank Suvidha Tax Saving Deposit interest rates are subject to change at the discretion of the bank. The rates of interest in this table are effective as of 16 August 2021.

IDBI Bank NRO FD Rates

Tenure Interest Rate for General Public (p.a.)
7 days to 14 days 2.70% p.a.
15 days to 30 days 2.70% p.a.
31 days to 45 days 2.80% p.a.
46 days to 60 days 3.00% p.a.
61 days to 90 days 3.00% p.a.
91 days to 6 months 3.50% p.a.
6 months 1 day to 270 days 4.30% p.a.
271 days to up to less than 1 year 4.30% p.a.
1 year 5.05% p.a.
Above 1 year to 2 years 5.15% p.a.
Above 2 years up to 3 years 5.20% p.a.
3 years up to 5 years 5.40% p.a.
5 years 5.25% p.a.
Above 5 years to 7 years 5.25% p.a.
Above 7 years up to 10 years 5.25% p.a.

*The IDBI Bank Suvidha Tax Saving Deposit interest rates are subject to change at the discretion of the bank. The rates of interest in this table are effective as of 16 August 2021.

IDBI Bank FCNR (B) FD Rates

Currency/ Tenure 1 year to below 2 years 2 years to below 3 years 3 years to below 4 years 4 years to below 5 years 5 years
Currency/ Tenure 1 year to below 2 years 2 years to below 3 years 3 years to below 4 years 4 years to below 5 years 5 years
USD 0.92% 1.04% 1.24% 1.42% 1.55%
GBP 0.90% 1.04% 1.16% 1.24% 1.29%
EUR 0.14% 0.15% 0.20% 0.24% 0.28%
CAD 1.00% 1.28% 1.52% 1.71% 1.82%
AUD 0.81% 0.96% 1.16% 1.32% 1.51%
CHF 0.00% 0.00% 0.00% 0.00% 0.00%
SGD 0.94% 1.03% 1.17% 1.27% 1.31%
JPY 0.54% 0.47% 0.46% 0.43% 0.39%

Features and Benefits of IDBI Fixed Deposits

The main features and benefits of the IDBI Bank FD scheme are mentioned below:

  • The FD account can be accessed anywhere.
  • Several deposit options are provided.
  • Auto-renewal facility is offered.
  • Loans can be availed against the balance that is available in the account.
  • Premature withdrawal facility is provided. However, a penalty will be levied in the case of premature withdrawal.
  • Senior citizens are offered an additional interest rate.
  • The tenure of the scheme ranges between 7 days and 10 years.
  • The minimum deposit that must be made is Rs.10,000.

Eligibility Criteria

The eligibility criteria that must be met in order to open an FD account with IDBI Bank are mentioned below:

  • Charitable institutions
  • Educational institutions
  • Firms
  • Partnerships
  • Sole proprietorships
  • Senior citizens
  • Hindu Undivided Family
  • Non-Resident Indians
  • Minors
  • Residents
  • Joint account holders
  • Individuals

Documents Required

The documents that must be submitted to open an FD account with IDBI Bank are mentioned below:

  • Permanent Account Number (PAN) Card
  • Passport-size photographs
  • Proof of age
  • Proof of address
  • Proof of identity
  • Application form

Different FD schemes offered by IDBI:

  • Suvidha Fixed Deposit
  • Suvidha Tax Savings Fixed Deposit
  • IDBI Bank Floating Rate FD
  • Naman Senior Citizens Deposits

FAQs on IDBI Bank Fixed Deposit Rates

  1. Is it possible to open a joint FD account with IDBI Bank?

    Yes, you can open a joint FD account with IDBI Bank

  2. What is the minimum amount that must be deposited in order to open an FD account with IDBI Bank?

    The minimum amount that must be deposited in order to open an FD account with IDBI Bank is Rs.10,000.

  3. Are senior citizens provided an additional interest rate if they open an FD account with IDBI Bank?

    Yes, senior citizens are provided an additional interest rate if they open an FD account with IDBI Bank.

  4. Does IDBI Bank provide the premature withdrawal facility on its FD account?

    Yes, IDBI Bank provides the premature withdrawal facility on its FD account. However, a penalty will be levied in the case of premature withdrawal.

  5. Can I avail a loan against the FD account offered by IDBI Bank?

    Yes, you can avail a loan against the amount that is available in the FD account.

News About IDBI Bank Fixed Deposit

  • FD rates revised by IDBI Bank

    IDBI Bank has revised their fixed deposit (FD) with effect from 18 March. The new interest rates will range between 2.9% and 5.6% for tenures between 7 days and 20 years. Senior citizens will receive an additional interest rate of 0.50% on their deposits. The interest rates for senior citizens will range between 3.4% and 5.6%.

    The lender will offer interest for deposits maturing in 7 days to 30 days. If the tenure is 31-45 days, the rate of interest offered is 3%. The interest rates will be 3.25%, and 3.6% for tenures 46-90 days and 91 days-6 months respectively.

    Tenure ranging between 6 months to 12 months will receive interest of 4.3%. For deposits with tenure between 1 year and 10 years will receive an interest of 5.1%, and 4.8% for tenures ranging between 10 years to 20 years.

    18 March 2021

  • IDBI Bank Revises FD Interest Rates

    With effect from October 1, IDBI Bank has revised the fixed deposit interest rates. The recent revision in the interest rates comes after the September 6 revision. The bank offers a higher interest rate on FDs as compared to savings deposits. An individual can earn interest in the range of 3.50% to 6.65% p.a. for investing in FDs offered by IDBI Bank that has a tenure between 7 days to 20 years.

    For short-term FDs, which range between 7 days to 1 year, IDBI Bank is offering interest in the range of 3.50% to 6.15% per annum to general citizens. Medium-term term deposits attract an interest in the range between 6.40% and 6.65% while on long-term FDs the lender offers a rate of return between 6.00% and 6.35% per annum. Senior citizens are offered additional interest of 0.50% on all tenures.

    It needs to be mentioned here that from October 1, the bank has also introduced repo-linked retail loans.

    4 October 2019

  • IDBI Bank Updates Fixed Deposit Rates

    IDBI Bank has revised its Fixed Deposit (FD) rates across tenures. The bank offers customers short as well as long-term deposit tenures and offers special rates for senior citizens. The interest rates are for deposits below Rs.2 crore.

    Deposits for 1 year tenure offer 6.95% for general customers and 7.45% for senior citizens. In the case of FDs maturing between 1 year and 2 years, the bank pays out 6.85% interest.

    FDs maturing between 2 and 3 years will pay out 6.80% while those maturing between 3 and 5 years will earn customers 6.70%.

    In the case of long-term deposits, tenures ranging from 5 to 20 years offer interest rates ranging from 6.00% to 6.60%. The interest rate for a 20-year deposit is 6.00%.

    Tax-saving FDs that mature in 5 years offer 6.60% interest.

    11 September 2019

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