IDBI Bank Fixed Deposit 2025 - Features, Tenure & Rate of Return
IDBI Bank offers a wide range of fixed deposit schemes that cater to different requirements. Interest rates range from 3.00% to 6.80% p.a. for general customers.
Senior citizens get an additional 0.50% interest rate.
There are both cumulative and reinvestment options with the interest being compounded quarterly. Tenures range from 15 days to 20 years.
Interest payment options are monthly, quarterly, and annually.
IDBI Bank Fixed Deposits
The bank has four major schemes for fixed deposits which are:
- Suvidha Fixed Deposit
- Suvidha Tax Saving Fixed Deposit
- IDBI Bank Floating Rate Term Deposits
- Systematic Savings Plan
Features & Benefits of IDBI Bank Fixed Deposit Schemes
FD Type | Features & Benefits |
IDBI Bank Suvidha Fixed Deposit | • Minimum deposit period of seven days and maximum period of 20 years • Minimum deposit required is ₹10,000 • Attractive rates of interest • Senior citizens get an extra 0.5% benefit for deposits of 6 months 2 days and above • No penalty on premature withdrawal • Overdraft facility against fixed deposits |
IDBI Bank Suvidha Tax Saving Fixed Deposit | • Deposit accepted for a period of 5 years • Individuals and HUFs are eligible to invest • Maximum deposit limit of ₹1.5 lakh • Lump sum amount payable on maturity • Loan facility available against the deposit |
IDBI Bank Floating Rate Term Deposit | • Deposit accepted for a minimum period of 1 year and maximum period of 20 years • Minimum deposit amount of ₹10,000 • Maximum deposit amount is less than ₹1 crore • No premature withdrawal up to 1 year • Loan facility available against deposits • Senior citizens eligible for additional interest |
IDBI Bank Systematic Savings Plan | • Minimum installment amount of ₹5,000 and above • Minimum tenure of 3 years and maximum tenure of 10 years • Complimentary personal accident insurance cover up to ₹5 lakh • Redeemable reward points of up to 1,000 • Available for individuals and HUFs |
IDBI Bank FD Eligibility
Resident Indians, NRIs, senior citizens and members of HUF can open their fixed deposit accounts with IDBI Bank and get maximum returns on their savings.
IDBI Bank FD Interest Rates
The bank offers attractive rates of interest on its fixed deposits. For domestic and NRO term deposits, the highest rate of interest offered by the bank for deposits of up to Rs.2 crore is 6.80% p.a. which is for the 5-year tenure. The lowest rate of interest offered by the bank for the same is 3.00% p.a. for a tenure of up to seven days. The interest rates of IDBI Bank vary based on the tenure of deposits and the amount deposited. However, these IDBI bank FD interest rates are subject to change from time to time without providing prior notice to its customers.
IDBI Bank FD for Senior Citizens
IDBI Bank allows senior citizens to open their fixed deposit accounts with the bank. It offers special rates of interest for senior citizens. They can invest for a minimum period of 15 days to a maximum period of 20 years with IDBI Bank. The highest rate of interest offered to senior citizens is 7.30%. The lowest rate of interest offered to them is 3.50%.
Useful Links
IDBI Bank Fixed Deposit FAQs
- What is the Minimum/Maximum amount required to open an FD account with IDBI Bank?
The minimum amount required to open a fixed deposit account with IDBI Bank is Rs.10,000 and the maximum amount is Rs.99,99,999.
- What is theMinimum/Maximum deposit tenures of IDBI Bank FDs?
IDBI Bank accepts deposits for a minimum tenure of seven days and a maximum tenure of 20 years.
- Does IDBI Bank Allow Renewal of its Existing FDs?
Yes, IDBI Bank allows renewal of its existing fixed deposit accounts. The bank also provides auto renewal facility for its fixed deposits on maturity.
- Does IDBI Bank Charge Premature Withdrawal Charge on FDs?
IDBI Bank does not charge any penalty fee for premature withdrawal of its fixed deposits.
- Are Loans Provided Against FDs at IDBI Bank?
Yes, IDBI Bank provides loans against fixed deposit accounts under its "IDBI Bank Suvidha Tax Saving Fixed Deposit Scheme". You can apply for educational loan, home loan, personal loan etc. against your fixed deposits opened under this scheme.
- Does IDBI Bank provide Tax Saver Fixed Deposits?
Yes, IDBI Bank offers tax saver fixed deposits under its "IDBI Bank Suvidha Tax Saving Fixed Deposit Scheme". The bank has the legal right to deduct tax at source if the total interest payable on all term deposits held by a person exceeds ₹ 10,000 per year, the amount mentioned under the Income Tax Act, 1961. You will get a TDS certificate from the bank after tax deducted at source.
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