|Tenure||Normal %||Senior Citizen %|
|1yrs to 2yrs||6.4||6.9|
|>2 yrs to <3 yrs||6||6.5|
|3 yrs to < 5 yrs||6||6.5|
|> 5yrs - 7yrs||6||6.5|
|>7 yrs - 10 yrs||6||6.5|
Get the Best Rates for an IDBI Bank Recurring Deposit
A recurring deposit offers customers the convenience of saving small amounts of money every month which can ideally be used for their future. IDBI Bank offers two recurring deposit schemes namely - A regular recurring deposit plan and the IDBI Bank Suvidha Suraksha Recurring Deposit scheme. When the regular recurring deposit account is opened, the monthly deposit amount can range from Rs. 100 to up to Rs. 1 crore, with tenures chosen anywhere between 1 year and 10 years. The IDBI Bank Suvidha Suraksha Recurring Deposit scheme comes with a built-in insurance cover at a low premium. An insurance cover is provided equivalent to the recurring deposit monthly installment amount. The term of the insurance cover will be equal to the Suvidha Suraksha recurring deposit tenure, which is a minimum of 1 year to up to a maximum of 5 years. On maturity, savings is accumulated in the Suvidha Suraksha recurring deposit account. On death of the account holder during the cover term, the sum insured along with the accumulated savings is given.
IDBI Bank - Short Term RD Interest Rates
As short term deposit plans, IDBI Bank offers rd schemes with tenures starting from 1 year to up to 2 years. If a customer opens a recurring deposit account with a tenure between 1 year to 2 years, the interest rate offered is 6.40% and for 2 years to less than 3 years, offered interest rate is 6.00%.
IDBI Bank - Medium and Long Term RD Interest Rates
Customers have the option of selecting mid-range recurring deposit tenures starting from 3 years to less than 5 years. The interest rate offered on the mid-term recurring deposit plans is 6.00%. As longer tenure options, IDBI Bank offers rd schemes with tenures of above 5 years and up to 10 years. The interest rate offered by IDBI for longer recurring deposit tenures is 6.00%.
IDBI Bank - Senior Citizen RD Interest Rates
Senior citizens have the option of opening recurring deposit accounts with varying tenures at preferential interest rates. IDBI Bank offers an additional interest rate of 0.50% on senior citizen recurring deposit accounts. For recurring deposit tenures from 1 year to less than 2 years, the interest rate offered would be 6.90%. For any tenure beyond that, i.e., from 3 years to 5 years, the interest rate is 6.50% and 5 years to up to less than 10 years, the interest rate given by IDBI Bank is 6.50%.
IDBI Bank - NRE Recurring Deposit Interest Rates
Non-resident Indians can also open a recurring deposit account with IDBI Bank at attractive interest rates, depending on the tenure chosen.
NRO Recurring Deposits - For this kind of a recurring deposit account, the interest rate offered per annum is 7.15% for a tenure ranging from 1 year to less than 2 years. For any NRO recurring deposit account tenure beyond that, i.e., from 5 years to up to 10 years, the interest rate given by IDBI Bank is 7.00%.
NRE Recurring Deposits - For this kind of a recurring deposit account, the interest rate offered per annum is 7.15% for a tenure ranging from 1 year to less than 2 years. For any NRE recurring deposit account tenure beyond that, i.e., from 3 years to up to 5 years, the interest rate given by IDBI Bank is 7.15%.
More you need to know about Recurring Deposit
- Compare RD Interest Rate of IDBI Bank with Other Banks and Institutions
- Check Features and Schemes of IDBI Bank Recurring Deposit
Read More Articles On RD
News About IDBI Bank Recurring Deposit Interest Rates
Deposit Rates Cut By IDBI Bank
IDBI Bank, which is owned and run by the State, has brought down rates of interest rates on deposits of retail terms by a percentage of 0.5 with regard to maturity from 31 days to 2 years. These recent variations in the rates on such deposits lie in the range of 4.50 per cent and 6.40 per cent. With regard to senior citizens, these new rates shall be in the bandwidth of 4.5 per cent and 6.90 per cent. In a statement released to the press, the IDBI Bank has confirmed that these revised rates of interest are effective today. Every maturity bucket between 2 years upwards and up to 20 years are to be set to be slashed by anywhere between 0.75 per cent and 6 per cent. Meanwhile, senior citizens shall receive 6.50 per cent interest on all their maturity buckets.
The interest-rates have been cut down by anywhere between 0.50-0.75 per cent to 6.40-6 per cent within the range of 1 year and 10 years when it comes to recurring deposits of regular customers. With regard to senior citizens, this recurring deposit rate has been slashed by 0.5 per cent for a 1-2 year period. For maturity bucket between over 2 years and 10 years, these interest rates have been slashed by 0.75 per cent each to 6.50 per cent.
5th April 2017
IDBI Bank RD Rates Revised
The rate of interest associated with a tenure of 1 year to less than 2 year is 7.30%. The rate of interest applicable on a tenure of 2 years to less than 3 years stands as 7.25%. Same rate of interest is also applicable on RDs with a tenure of 3 years to less than 5 years, 5 years, more than 5 years to 7 years and more than 7 years to 10 years. The NRO recurring deposit rates stand at 7.30% for a tenure of 1 year to less than 2 years. For all the other tenures, the rate applicable is 7.25%. The NRE recurring deposit rates stand at 7.30% for a tenure of 1 year to less than 2 years. For all the other tenures, the rate applicable is 7.25%.
10th November 2016
IDBI updates Recurring Deposit Interest Rates
IDBI Bank is one among the leading banks offering RDs with excellent interest rates. Monthly deposit amount for Regular Recurring Deposits can range from Rs 100 to up to Rs 1 crore, with tenure period ranging between 12 months to 120 months. The interest rates for regular RDs varies from 7.4% to 7.25% p.a based on the tenure. Senior citizens can expect an interest rate of 7.9% to 8% per annum depending on the RD amount and the tenure. NRO RDs now attract an interest rate of 7.4% to 7.25% p.a while the interest rate for NRE Recurring Deposits remains to be 7.4% to 7.5% per annum.
1st August 2016