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.
The following are the latest IDBI Bank fixed deposit interest rates for regular and senior citizens with effect from 23 April, 2018:
Tenure
Regular Interest Rate
(per annum)
Senior Citizen Interest Rate
(per annum)
15 days to 45 days
5.75%
5.75%
46 days to 6 months
6.25%
6.25%
6 months 1 day to less than 1 year
6.50%
6.50%
1 year
6.75%
7.25%
Above 1 year to less than 5 years
6.85%
7.35%
5 years
6.75%
7.25%
Above 5 years to 20 years
6.25%
6.75%
*For deposits that are less than Rs.1 crore
*The same interest rates are applicable on NRO FDs
Given below are the different FD schemes offered by IDBI:
Freedom Deposit
Suvidha Tax Saving Fixed Deposit
Godhuli Retail Term Deposit
IDBI Bank Floating Rate FD
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
IDBI Bank short-term FD interest rates
Those who apply for IDBI Bank short-term FDs can choose from a minimum tenure of 15 days to less than 1 year.
The interest rates paid vary between 5.75% p.a. to 6.50% p.a.
The best interest rate is 6.50% p.a., which can be fetched for investing from 6 months 1 day to less than 1 year.
Those keeping their surplus cash in an FD from 46 days to less than 6 months will get the applicable rate of 6.25% p.a.
The bank rate paid on fixed deposits that are held from 15 days to 45 days is 5.75% p.a.
IDBI Bank FD Rates
IDBI Bank medium-term FD interest rates
The investment period for medium-term FDs is from 1 year to 5 years.
The rate of interest paid ranges from 6.50% p.a. to 6.75% p.a.
A time span of 1 year and 5 years will pay a depositor the highest rate, which is 6.75% p.a.
All remaining tenures will give the investors returns at the rate of 6.50% p.a.
IDBI Bank long-term FD interest rates
For any investment that is made for more than 5 years, the interest rate paid will be 6.00% p.a.
The maximum tenure for which an investor can keep an FD with IDBI Bank is 20 years
IDBI Bank senior citizen FD interest rates
All senior citizens who choose to invest in a time-deposit scheme will get an additional 0.50% interest for any FD that is held for 1 year and above.
The highest term deposit interest rate paid is 7.25% p.a. for 1 years and 5 years respectively.
All deposit holders 60 years and above will get paid at the rate of 7.00% for a durations of more than 1 year to less than 5 years and above 5 years to 20 years
IDBI Bank Suvidha Tax Saving FDs (5 years)
Senior Citizens
Regular Depositors
6.75%
7.25%
IDBI FD Rates: Rs.1 Crore to Rs.5 Crore
Tenure
Interest rate
(per annum)
7 days to 14 days
4.00%
15 days to 45 days
5.75%
46 days to 6 months
6.25%
6 months 1 day to less than 1 year
6.50%
1 year
6.75%
More than 1 year to less than 5 years
6.25%
5 years
6.50%
Above 5 years to 20 years
5.75%
IDBI Bank NRE FD Rates with effect from 18 June, 2018:
Tenure
Interest Rate
(per annum)
1 year
6.75%
1 year to less than 5 years
6.70%
5 years to 10 years
6.00%
IDBI FCNR Deposit Rates - with effect from 1st June, 2018
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar’s partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
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 increases FD interest rates
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
Base rate cut by 10 bps by IDBI bank
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
Fixed Deposit Rates for IDBI
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 interest rate cuts
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 cuts FD interest rates
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
IDBI Bank trims Fixed Deposit Rates
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
New rates cut announced by IDBI Bank
IDBI Bank, one of the leading public sector banks in India announces its new rates cut in base and deposit rates. The bank cuts its base rate by 25 bps on last Thursday. Now, the new base rate of the bank stands at 10%. The new rates cut will be effective from May 11, 2015. The bank has also decided to reduce its retail term deposits/fixed deposit rates in select buckets by 10-25 bps with effect from the same date. It is expected that the reduction in interest rates will positively impact the loan growth of the bank.
I have taken Fixed deposit account from IDBI bank where am getting income tax benefits from them . There is no charges for the account . Where they are giving good rate of interest i have chosen long term investment plan.Overall am satisfied with the service and response .
Was this review helpful?
4
HARESH BUPENDAR JAGANE
, vadodara
Reviewed on Nov 02, 2018
I had a fixed deposit account with IDBI bank. It was very good experience with IDBI fixed deposit. I have got a transfer to the other place, so I have closed this account. I paid Rs .1lakh towards this fixed deposit. The return on investment was very good with IDB I fixed deposit.
It was recently I started a fixed deposit with IDBI the service was fine ,the service will be very good and the payments were through online for every due ,it was recently I have started using the service from IDBI so I don't know much about IDBI still it was a good service that I received from IDBI for my fixed deposit service.
IDBI has provided the best of services always I have a fixed deposit as well with them. I only have to get the bond and sign the same. They would will up the rest of the details and process it. I do not have to double check as they have always been trustworthy.
Was this review helpful?
1
MURUGAN KRISHNAN
, chennai
Reviewed on Aug 07, 2017
I would suggest IDBI bank is the best one to get the fixed because of the good rate of interest . Customer service is good one and am with them from the last three years of time. Penalty charges are lesser one with the m for the premature withdraw.
Was this review helpful?
1
PRAVEEN PRAVEEN PATTEM
, bangalore
Reviewed on Jun 19, 2017
I deposited some amount with IDBI bank as a fixed deposit. Actually I deposited this amount for future savings also I will be getting some good interest rate at the end of the year. I got good support from the bank executives and they provided all the information regarding FD.
Was this review helpful?
1
MANISH SHRIVASTAVA
, indore
Reviewed on May 04, 2017
From the last one year of time I am having the fixed deposit account with the IDBI bank. The rate of interest is around 8.5% as a fixed one. Customer service is good with them and the interest will be compounded monthly.
IDBI is giving the interest rate according the rbi rules for the fixed deposit. They give the 7.75% interest rate there is no minimum lock in period. But if you withdraw the amount in between the lock in period they will charge penalty. There is activation and processing.We can avail the facility through online.
I hold a Fixed Deposit with IDBI bank. Compared to other nationalised banks, their rates, fees and charge are nominal and affordable by almost everybody. Their schemes and processing is good enough. The executives are also helpful and respond well. The interest rate offered is 10%.
Was this review helpful?
4
SHAKTI SHANKAR
, bhubaneshwar
Reviewed on Mar 17, 2016
IDBI FD is very good. This was taken for a period of 3 years. Nothing special about them/ interest rate was good . Nothing negative to report about them and I have fill the 15 G form for getting tax benefit and I will be getting tax benefits at the time of maturity,
Was this review helpful?
4
PRAVEEN MUDDANNA DEVADIGA
, mumbai
Reviewed on Nov 07, 2015
Communication was very nice when it comes to IDBI FD. This is the first time I have opened this FD interest rate was good. Rate of interest offered by them this time was very low. I understand its purely based on the market it would change. I holding 2 FD with the same bank and I am holding it approximately for a period of 3 years and its a compounded interest
Was this review helpful?
4
CHITRASUTAR SANJAY SUTAR
, pune
Reviewed on Oct 17, 2015
I usually place the FD with IDBI Bank. Placing FD is as easy as it was never before. It just happens in two mins over the internet with the options as required by the customer. Also the interest rates as Good as compared to market and i recommend you should try it.
I hold an fixed deposit from IDBI bank. The interest rate offered is 9.25% and i used to take the tenure for 500 days in which i have completed my first tenures and started the second time The advantage of taking 500 days tenure is that we will be charged 2.5% more interest while the withdrawal.
Was this review helpful?
4
ARJUN MAJUMDAR
, hyderabad
Reviewed on May 09, 2015
IDBI Fixed deposit is really good. There are 2 types of fixed deposit once is fixed and other is flexi. Flexi deposit is linked to the savings account, where as and when I want we can with draw funds form the ATM and for the remaining amount they would they would provide interest. They will also provide over draft facility on this deposit and where we can withdraw up to 90% of the amount and I have already referred my friend for this deposit,
Was this review helpful?
9
SATHISHA NARASHIMMIA
, bangalore
Reviewed on May 05, 2015
Services are very good in IDBI and for liquidation of the amount they just took 15 minutes and this happened in my case. I had fixed deposit and closed it before mature date. IDBI helped me in getting liquidity even after bank closing hours. No penalty charges for pre matured withdrawal
Services are very good in IDBI and for liquidation of the amount they just took 15 minutes and this happened in my case. I had fixed deposit and closed it before mature date. IDBI helped me in getting liquidity even after bank closing hours. No penalty charges for pre matured withdrawal
Services are very good in IDBI and for liquidation of the amount they just took 15 minutes and this happened in my case. I had fixed deposit and closed it before mature date. IDBI helped me in getting liquidity even after bank closing hours. No penalty charges for pre matured withdrawal.
Was this review helpful?
9
SOUMA DIP BHADURI
, kolkata
Reviewed on Mar 13, 2015
I had opened up fixed deposit account with IDBI before 3 years. Its a compounding interest rate with good returns compared with other banks. I get regular intimations about fixed deposit certificate via on line. I would like to suggest IDBI as its user friendly services.
Was this review helpful?
8
SUPRIYA SUNIL MALI
, mumbai
Reviewed on Jan 29, 2015
On quarterly basis rate would be accumulated and providing rate of interest for Fixed deposit is 9.25%. IDBI is near to my residence thus the officials came my place and they suggested to open FD. They cooperated well and they did everything on behalf of me. Status are being mailed timely regarding fixed deposit so overall I am satisfied.
The deposit which I have with IDBI bank was good. As this deposit is linked to my company it is easy for me to access it through the office executive who takes care of it. The customer support is really good. The rate of interest they provided was 13% which is good as it is an offer for certain corporate companies only.
Was this review helpful?
5
SANJIV SHARDA
, new delhi
Reviewed on Dec 24, 2014
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
Grab our newsletter!
Gain an edge by connecting with us via email. We promise never to spam you.
AWESOME SAUCE!
Request received - loud & clear! Returning you to where you were...
Psst... We'll ensure you're the very first to know the moment rates change.
We'll email you immediately! You snooze, you lose.
Details
Details
Details
