IDBI Bank Fixed Deposit Rates 2021

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. You can get attractive interest rates on Fixed Deposits offered by IDBI Bank. The rates of interest offered is between 2.90% p.a. and 5.20% p.a. for general citizens. Senior citizens are offered additional interest of 0.50% p.a. on all investment tenures.

Tenure bucket Regular FD rates (per annum) Senior Citizens FD rates (per annum)
7 days to 14 days 2.90% p.a. 3.40% p.a.
15 days to 45 days 3.00% p.a. 3.50% p.a.
46 days to 90 days 3.25% p.a. 3.75% p.a.
91 days to 6 months 3.90% p.a. 4.40% p.a.
6 months 1 day to 270 days 4.40% p.a. 4.90% p.a.
1 year up to 5 years 5.15% p.a. 5.65% p.a.
5 years 5.20% p.a. 5.70% p.a.
5 years up to 10 years 5.15% p.a. 5.65% p.a.
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 01 October 2020.

Different FD schemes offered by IDBI:

  1. Freedom Deposit
  2. Godhuli Retail Term Deposit
  3. IDBI Bank Floating Rate FD
Tenure Amount Types Other benefits
From 7 days to 20 years Rs.10,000 and above Cumulative and non-cumulative Nomination, joint account, loan/OD, etc

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 5.20% 5.70%

*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 01 October 2020.

IDBI Bank NRI Fixed Deposit Rates

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.

IDBI Bank NRE Term Deposit Rates (Less than Rs.2 crore)

Tenure Interest Rates (p.a.) for General Citizens Interest Rates (p.a.) for Senior Citizens
1 year 5.20% 5.70%
1 year 1 day to 2 years 5.25% 5.75%
2 years 1 day to less than 3 years 5.25% 5.75%
3 years to less than 5 years 5.30% 5.80%
5 years 5.40% 5.90%
5 years 1 day to 7 years 5.40% 5.90%

*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 15 September 2020.

IDBI Bank Fixed Deposit Calculator

  • Visit the IDBI Bank’s official website.
  • Click on the ‘Term Deposit Calculator’.
  • Select the type of the calculator from the dropdown list:
  • Monthly Interest Calculator
  • Quarterly Interest Payout Calculator
  • Quarterly Cumulative Deposit Calculator
  • Enter the principal deposit amount.
  • Enter the interest rate based on the FD tenure.
  • Click on ‘Submit’ to check the interest income.

News About IDBI Bank Fixed Deposit

  • 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

  • FD interest rates cut by IDBI Bank

    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

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