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IDBI FD Interest Rates

2.70% - 4.80%
Interest rates
3 months - 20 years
Time Period
₹10,000 - no limit
Min. - Max amount
QUARTERLY
Compounding

About IDBI Bank

IDBI, short for Industrial Development Bank of India is an Indian banking and financial services company with its headquarters in Mumbai, Maharashtra. It offers a wide range of banking products and services to its customers including FD.

IDBI Bank offers multiple FD options to its customers which can be utilized to save money for a fixed tenure and earn interest on it. The depositor can deposit only once at the time of opening the account with the bank. Depositing additional money is not allowed during the ongoing tenure. There are a plethora of benefits of opening an FD account with IDBI Bank such as loan facility, auto-renewal and much more.

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Started On1964
Head QuartersMumbai
CRISIL RatingNA
CEORakesh Sharma
Listed on exchange asIDBI Bank Ltd.
ICRA RatingNA

IDBI FD Rates 2022

TenureRegular customersSenior citizens
1
2

Features and Benefits of IDBI Fixed Deposit

  • Loan facility of up to 90% is available on the deposits
  • Tenure ranges from 7 days to 20 years.
  • Attractive interest rates
  • Senior citizens can avail 0.50% additional interest rate over the regular rates
  • Auto-renewal facility is available
  • Various deposit options are available
  • IDBI provides easy and fast liquidity options to their customers
  • The interest payout options can be chosen either monthly, quarterly or annually based on your preference

Types of IDBI FD Schemes

IDBI Bank Freedom Deposit

  • This scheme allows the customers to enjoy higher interest rates on the deposit
  • Loan facility of up to 90% is available against the deposit
  • Senior citizens can avail of 0.50% extra interest rates over the regular rates
  • Auto-renewal facility is available
  • Various deposit options are available for customers
  • Resident Indians, HUFs, private or public companies, trust or partnership firms are eligible

Suvidha Tax Saving Fixed Deposit

  • As the name suggests, this scheme is designed to help the resident individuals and HUFs to save tax and get effective returns on their fixed deposits.
  • Nomination facility is available
  • Interest is compounded on a quarterly basis
  • Interest on the deposit is taxable
  • Auto-renewal facility is available
  • Customers can enjoy tax benefits under section 80C of the Income Tax Act, 1961
  • Resident Indians, HUFs, a private or public company, trust or partnership firms are eligible

Term wise IDBI Fixed Deposit Rates

Short-term Deposits

For an IDBI FD with tenure ranging from 7 days to 12 months, the interest rate offered is from 2.70% p.a. to 5.00% p.a. These deposits are known as short term deposits as their tenure is less than 1 year.

Medium-term Deposits

Medium-term fixed deposits have their tenures ranging from more than 1 year to less than 5 years. The interest offered by the bank on these deposits is around 5.00% – 5.30%

Long-term Deposits

These deposits have their tenure ranging from 5 years to 20 years and offer an interest rate of 5.25% – 4.80%.

IDBI vs Other Banks' FD Rates

NameTenureInterest rate
1
2
3
4
5

How to invest in IDBI FD?

An IDBI Bank FD account can be opened through different modes like Mobile App, Internet Banking, and offline.

1) Internet Banking

Follow the below-mentioned steps for opening a IDBI Bank FD account via internet banking-

  • Sign to the IDBI Bank NetBanking account.
  • In the ‘Request’ tab, choose the ‘Opening a Fixed Deposit’ option.
  • Submit all the deposit information and maturity instructions.
  • After verifying the details, click on the ‘Submit’ button.
  • On successfully booking the deposit, a confirmation notification will be displayed.
  • Note, the nominee information has to be physically filled and submitted to the IDBI bank.

2) Mobile App - IDBI Bank App

Follow the steps mentioned ahead to open an FD account via IDBI Bank App-

  • Download the IDBI Bank App and sign in.
  • Choose the ‘Opening a Fixed Deposit’ option to move ahead.
  • After verifying the details, click on the ‘Submit’ button.
  • A confirmation notification will be displayed on successfully booking the deposit.
  • Note, the nominee information has to be physically filled and submitted to the IDBI bank.

3) Opening IDBI Bank FD Offline

For opening an IDBI Bank FD account via offline mode, one has to visit the nearest IDBI Bank branch. Fill out the IDBI Bank FD application form and present all the necessary documents with the deposit amount. On successful processing of the application, an FD receipt will be provided by the IDBI bank.

Eligibility to Open a IDBI FD Account

The following groups are eligible for initiating fixed deposit investments in IDBI Bank –

  • Residents.
  • Individuals and joint account holders.
  • Minors.
  • NRIs through NRE and NRO accounts.
  • Hindu Undivided Family or HUF.
  • Senior citizens.
  • Sole proprietorships and partnerships.
  • Firms.
  • Educational or charitable institutions.

Documents Required to Open IDBI FD

Furnishing proper identity and address proof is mandatory for availing IDBI Bank FD. Minors and senior citizens also need to provide proof of age. 

Here is a quick look at all documents necessary –

  • Application form.
  • Photo identity proof, which may include Voter ID, PAN card, Aadhaar card, driving license, etc.
  • Address proof document, which can include utility bills, driving license, Aadhaar card and more.
  • Proof of age (birth certificate, PAN card, matriculation certificate and more). 
  • Passport size photographs.
  • PAN card.

FAQs

What is the minimum deposit amount needed to open an FD account in IDBI Bank?

The minimum amount to open an FD account in IDBI Bank is Rs. 10,000

What is the tenure range for IDBI Bank FD?

The tenure for IDBI FD ranges from 7 days to 20 years.

Can a customer deposit an additional amount after opening the FD account?

No, an additional amount cannot be deposited once the account is opened with a certain deposit amount.

Who all are eligible to open an FD account in IDBI?

Resident Individuals, HUFs, NRIs, firms as well as minors are also eligible for opening an FD account with IDBI Bank.

Can we open IDBI FD account online?

Yes, you can open IDBI FD account online.

Calculate IDBI Bank FD Interest
Investment Amount
₹25,000.00
Time Period
9 Months
1 Year
2 Years
3 Years
Maturity Amount
IDBI Bank
@5% p.a
Get higher interest rates
online upto 0%
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