IDBI Bank is a public sector bank that has been offering high-quality financial services and products from the last 40 years. IDBI Bank Fixed Deposits (FDs) are a good way to save money or make a lucrative investment that will pay guaranteed returns. The bank offers a number of FD schemes, including tax saving deposits for those seeking the same.
| Maturity Period | Interest Rate (p.a.) | |
|---|---|---|
| General Public | Senior Citizens | |
| 7 days to 14 days | 3.50% | 4.00% |
| 15 days to 30 days | 4.50% | 5.00% |
| 31 days to 45 days | 4.75% | 5.25% |
| 46 days to 90 days | 5.50% | 6.00% |
| 91 days to 6 months | 5.60% | 6.10% |
| 6 months 1 day to 270 days | 5.75% | 6.25% |
| 271 days up to 1 year | 6.00% | 6.50% |
| 1 year | 6.45% | 6.95% |
| Above 1 year to 2 years | 6.40% | 6.90% |
| Above 2 years and less than 1111 days | 6.25% | 6.75% |
| 1111 days (Utsav Celebrations Deposit) | 6.45% | 6.95% |
| Above 1111 days to 10 years | 6.25% | 6.75% |
| Above 10 years to up to 20 years | 6.00% | 6.50% |
*The IDBI Bank Fixed Deposit rates tend to change at the bank’s discretion. The rates given here are valid as of 11 November 2019.
| Maturity Period | Interest Rate (p.a.) |
|---|---|
| 7 days to 14 days | 3.50% |
| 15 days to 30 days | 4.50% |
| 31 days to 45 days | 4.75% |
| 46 days to 90 days | 5.50% |
| 91 days to 6 months | 5.60% |
| 6 months 1 day to 270 days | 5.75% |
| 271 days up to 1 year | 6.00% |
| Above 1 year to 2 years | 6.40% |
| Above 2 years to 10 years | 6.25% |
| Above 10 years to 20 years | 6.00% |
*The IDBI Bank Fixed Deposit rates tend to change at the bank’s discretion. The rates given here are valid as of 11 November 2019.
| Tenure | Amount | Types | Other benefits |
|---|---|---|---|
| From 15 days to 20 years | Rs.10,0000 and above | Cumulative and non-cumulative | Nomination, joint account, loan/OD, etc |
| Maturity Period | Interest Rate for General Public (p.a.) | Interest Rate for Senior Citizens (p.a.) |
|---|---|---|
| 5 years | 6.25% | 6.75% |
*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 11 November 2019.
Non to Resident Indians (NRIs) can make an investment through Fixed Deposits offered by IDBI Bank. The schemes include Foreign Currency Non to Resident (Bank) deposit, Non to Resident External (NRE) FD and Non to Resident Ordinary (NRO) FDs.
| Tenure | Interest Rates (p.a.) |
|---|---|
| 1 year | 6.45% |
| 1 year to 2 years | 6.40% |
| 2 years to 3 years | 6.25% |
| 3 years to 1111days | 6.25% |
| 1111days | 6.45% |
| 1111 days to 5 years | 6.25% |
| 5 years | 6.25% |
| 5 years to 7 years | 6.25% |
| 7 years to 10 years | 6.25% |
*The IDBI Bank NRE FD rates tend to vary at the discretion of the bank. The rates of interest given here are valid as of 11 November 2019.
| Tenure | FCNR (B) FD rates (per annum) | |||||||
|---|---|---|---|---|---|---|---|---|
| AUD | HKD | CAD | SGD | JPY | EUR | USD | GBP | |
| 1 year to 2 years | 1.64% | 2.41% | 2.43% | 2.07% | 0.29% | 0.15% | 2.47% | 1.49% |
| 2 years to 3 years | 1.60% | 2.39% | 2.39% | 2.06% | 0.24% | 0.14% | 2.37% | 1.47% |
| 3 years to 4 years | 1.62% | 2.29% | 2.37% | 2.02% | 0.16% | 0.14% | 2.30% | 1.45% |
| 4 years to 5 years | 1.75% | 2.29% | 2.40% | 2.03% | 0.13% | 0.19% | 2.31% | 1.46% |
| 5 years | 1.79% | 2.27% | 2.41% | 2.02% | 0.10% | 0.22% | 2.30% | 1.46% |
*The IDBI Bank FCNR (B) FD rates tend to vary at the discretion of the bank. The rates of interest given here are valid as of 11 November 2019.
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 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
IDBI Bank, one of the banks operating in the country has reduced its fixed deposit interest rates with effect from 19 July. The lender has cut the interest rates for the long-term deposits by 15 bps. The interest rates offered on short-term deposits were slashed between 25 and 50 bps. The bank offer interest in the range of 3.50% to 7.10% for deposits having a tenure between 7 days to 10 years.
The new rates offered on tenures that range between 1 – 2 years and 2 – 3 years for deposits below Rs.2 crore are 7.05% and 6.90% respectively.
It needs to be mentioned here that banks like SBI, ICICI Bank, HDFC Bank had also cut the interest rates in the last few months. While ICICI and HDFC had cut the deposit rates in the range of 10-25 basis points (bps), SBI had reduced the interest rates for its long-term deposits by 5-15 bps. The country’s largest lender had however increased the interest rates for the tenure of one-year to less than 2 years by 10 bps.
22 July 2019
Fixed Deposits or term deposits are a popular investment option. It enables an individual to gain high returns along with an interest income within a chosen maturity period. IDBI is one of the youngest banks within the banking sector. It is one of the most recent banks to hike the interest rates on Fixed Deposit schemes. The rates were revised on 24 August 2018. In case of deposits below Rs.1 crore, the interest ranges from 5.75% p.a. to 6.85% p.a. The highest interest rate offered by the bank is 6.85% for a maturity period of which is more than 1 year and less than 2 years. For tenors of 1 year and 2-5 years, the interest rate is 6.75% p.a. For maturity periods above 1 year, senior citizens can avail an additional 0.50% interest as opposed to the regular FD rates. The highest rate for FDs for senior citizens is 7.35% for a tenor that falls within 1 year and 2 years.
5 September 2018
IDBI bank recently revised the interest rates offered on Fixed Deposits (FDs) by around 25 to 150 basis points on a selected range of tenures.
All changes in rates became effective from March 12, 2018 onwards. Interest rates have been increased the most for short-term FDs for which the tenure range is around 90 days. For term deposits held for 31 days to 45 days, the rate of interest paid is 5.75% compared to the previous rate of 4.25%. For deposits that are kept in the bank for a time period that ranges from 46 days to 60 days, the rate of interest paid is 6.25% when compared to the earlier rate of 5%. For 91 days, the rate of interest has been increased by 0.25%, which means that the rate of interest paid is 6.25% as against the previous rate of 6%. The highest FD rate is paid for a tenure of 1 year, where the rate of interest is 6.75%.
As far as the 5-year IDBI Bank tax-saving term deposit is concerned, the rate of interest offered has been increased by 0.50%. The rate of interest paid is thus 6.50% compared to the earlier rate of 6%.
16 March 2018
The base rate or the minimum lending rate has been reduced by IDBI bank. The base rate currently stands at 9.65 % per annum. Prior to the reduction, the base rate was 9.5 % per annum.
The BPLR (Benchmark Prime Lending Rate) has also gone down to 14.15 % per annum from 14.25 % per annum. This fact was stated by IDBI bank during a release. All the revisions that have been done to the rates are also effective now. IDBI bank has also reduced its MCLR (Marginal Cost to Funds based Lending Rates). The bank also mentioned that there will be a positive impact on the growth curve of the loans after the benchmark rate reduction. The impact will be visible in both corporate sector lending and retail consumer segment. This will also provide support to the economy’s growth impulse. The retail deposit rates have also been changed by IDBI Bank by 10-25 bps. This is done in selected buckets – three years to less than five years, 31 days to 45 days and 15 days to 30 days.
28 July 2016
IDBI Bank has made some nifty changes to the interest rates offered on its fixed deposits. The latest changes include slight variants from the earlier rates.
For deposits of 15 days to 30 days the rate of interest is 4.5% per annum, 5.25% per annum for 11 to 45 days and 6.25% per annum for 46 to 60 days. It rises to 6.75% for a tenure of 61 to 90 days and further to 7.25% per annum for tenure of 91 days to 6 months. From 6 months to less than 1 year, the rate of interest is 7.50% per annum and it increases to 7.75% per annum for the period of 1 year to less than 2 years. From 2 years to 20 years, the rate of interest remains at 7.5% per annum. Senior citizens might get an extra 0.50% over the advertised rates from tenures of 271 days and more.
9 February 2016
IDBI Bank Ltd. offers fixed deposits at competitive interest rates and at flexible tenures in order to ensure customers’ ability to maintain liquidity according to their needs while maximising returns.
The bank has cut interest rates for the regular and senior citizen fixed deposits, with effect from. November 16, 2015. For tenures of 91 days to 6 months, the rates will fall by 0.25% to 7%, from the previous rate of 7.25% deposits up to Rs. 1 crore. Likewise, for deposits maturing in 6 months t0 270 days, the rate of interest will now be 7.25% from the earlier 7.35%. Deposits with tenures of 270 days to less than one year will now have an interest rate of 7.25% from the previous rate of 7.5%.
19 November 2015
IDBI Bank has reduced the interest rates on their Retail Term Deposit for deposits with maturity more than 6 months and up to 270 days. The interest rate has been reduced by 40 basis points.
For the deposits with maturity of over 271 days, the interest rate has been reduced by 25 basis points. But, the senior citizens will get 0.5 percentage points higher on their deposits having maturity duration of 1 year or above.
The banks are reducing their FD rates as the policy interests have come down 0.75 percentage points so far in the year 2015.
11 August 2015
Following the RBI’s actions of slashing the repo rate to 7.25%, many banks have gone ahead in reducing the interest rates charged and offered. Among ICICI, HDFC, Axis and others, IDBI has also reduced its interest rates on high value term deposits starting June 30, 2015.
It’s worthwhile to mention that the growth trend pertaining to deposits with banks in financial year 2015 increased only by 11.42%, the lowest ever since 1961. Three consecutive policy rate cuts in 2015 and a slow credit market have forced the hand of most banks to trim deposit rates.
Government sponsored schemes like Sukanya Samriddhi still offer prospective depositors a comparatively higher rate of return now. In the face of such competition, the 55 basis points slash by IDBI might not seem a very lucrative option for depositors.
3 July 2015
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