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IDBI Bank FD Rates

IDBI Bank Ltd. operates as a full-service universal bank, serving customers from all segments. The bank caters to millions of users through its wide array of banking products and services. It has established its presence in associated financial sector businesses as well, like investment banking, capital markets and mutual fund business.

IDBI Bank offers a range of deposit options to meet varying client needs. Fixed deposits are widely popular among the masses, considering that it is a safe investment option as compared to investments like stocks and mutual funds. Under FDs, an entity’s money gets deposited for a fixed tenure, without fluctuating interest rates. The bank’s fixed deposit options offer a wide variety in terms of deposit duration and interest rates.

IDFC Bank FD Rates 2019

Interest Rate on Term Deposits (w.e.f. March 4, 2019)

Resident Term Deposit / NRO for deposit up to Rs. 2 crores

Maturity SlabInterest Rate (% p.a.)
15-30days5.75
31-45 days5.75
46-60 days6.25
61-90 days6.25
91-6 months6.25
6 months 1 day to 270 days6.50
271 days to < 1year6.50
1 year7.25
>1yrs to 2yrs7.20
>2 yrs to < 3 yrs7.05
3 yrs to < 1100 days6.85
1100 Days7.30 (7.40)@
> 1100 days to < 5 yrs6.85
5 years6.85
> 5yrs - 7yrs6.25
>7 yrs - 10 yrs6.25
>10 yrs - 20 yrs*6.00

Senior Citizen Interest Rates for deposit up to Rs. 2 crores

Maturity SlabSr. Citizen Interest Rate (p.a. %)
15-30days6.25
31-45 days6.25
46-60 days6.75
61-90 days6.75
91-6 months6.75
6 months 1 day to 270 days7.00
271 days to < 1year7.00
1 year7.75
>1yrs to 2yrs7.70
>2 yrs to < 3 yrs7.55
3 yrs to < 1100 days7.35
1100 Days7.80 (7.90)@
> 1100 days to < 5 yrs7.35
5 years7.35
> 5yrs - 7yrs6.75
>7 yrs - 10 yrs6.75
>10 yrs - 20 yrs*6.50

@ Applicable to Non-Callable Deposits (Premature withdrawal not permitted) for amount > Rs.15 lakhs to < Rs. 2 Crores

Floating Rate Term Deposit

ANCHOR RATE DETAILS (Applicable to FRTD opened wef November 1, 2018)

Average of Weighted Avg. Yield of 91 days Treasury Bill Auction undertaken by RBI for QuarterAnchor Rate (%)Anchor Rate for Quarter
Between Jul 1 - Sep 30, 20186.77Between Nov 1 - Dec 31, 2018
Between Oct1 - Dec 31, 20186.83Between Jan 1 - March 31, 2019
Between Jan 1 - March 31, 20196.47Between Apr 1 - June 30, 2019

Anchor Rate Details (Applicable to FRTD opened prior to November 1, 2018)

Average of Weighted Avg. Yield of 364 days Treasury Bill Auction undertaken by RBI for QuarterAnchor Rate (%)Anchor Rate for Quarter
Between January 1 - March 31, 20176.23Between Apr 1 - Jun 30, 2017
Between April 1 - Jun 30, 20176.40Between Jul 1 - Sep 30, 2017
Between Jul 1 - Sep 30, 20176.26Between Oct 1 - Dec 31, 2017
Between Oct 1 - Dec 31, 20176.27Between Jan 1 - Mar 31, 2018
Between Jan 1 - Mar 31, 20186.57Between Apr 1 - Jun 30, 2018
Between Apr 1 - Jun 30, 20186.80Between Jul 1 - Sep 30, 2018
Between Jul 1 - Sep 30, 20187.38Between Oct 1 - Dec 31, 2018
Between Oct 1 - Dec 31, 20187.31Between Jan 1 - March 31, 2019
Between Jan 1 - March 31, 20196.64Between Apr 1 - June 30, 2019

Interest Rate applicable to FRTD opened wef November 1,2018 (Applicable to New and Renewal FDs opened wef November 1, 2018)

Effective Rate (April 01, 2019 to June 30, 2019)

TenorAnchor RateMark -up on the average rateEffective rate for FRTDSenior CitizenStaffStaff Senior Citizen
(Years)(%)(%)(%)(%)(%)(%)
16.470.506.977.477.977.97
26.470.506.977.477.977.97
36.470.406.977.477.977.97
56.470.206.877.377.877.87
76.470.206.677.177.677.67
106.470.206.677.177.677.67
>10 – 206.470.106.577.077.577.57

Interest Rate applicable to FRTD opened prior October 31,2018

Effective Rate (April 01, 2019 to June 30, 2019) (Rate in % p.a.)

Tenor (Years) Anchor RateMark-up(Existing FRTD opened during Aug 01,2014 to Oct 31,2018)Regular DepositorSenior CitizenMark -up (For Existing FRTD opened prior to Aug 01, 2014)Regular Depositor Senior Citizen
16.641.007.648.141.007.648.14
26.640.757.397.891.107.648.14
36.640.757.397.891.257.748.39
56.640.757.397.891.257.898.39
56.640.757.397.891.357.998.49
106.641.007.647.891.408.048.54
>10 – 206.640.657.298.141.408.048.54

Suvidha Tax Saving Fixed Deposits (5 Years) w.e.f. October 15, 2018

Normal Retail Rate6.85
Senior Citizens7.35

For Bulk Deposits of Rs. 2 crores and above, up to Rs. 5 crores (w.e.f. March 4, 2019)

Maturity SlabInterest Rate (% p.a.)
07 – 14 days4.00
15 – 30 days5.75
31– 45 days5.75
46 –60 days6.25
61-90 days6.25
91-6 months6.25
6 months 1 day to 270 days6.50
271 days to < 1 year6.50
>1 year7.25
>1 year - 2 years7.20
>2 years to < 3 years7.05
3 years to < 5 years6.85
5 years6.85
>5 years - 7 years6.25
>7 years - 10 years6.25
>10 years - 20 years6.00

Source: IDBI Bank official website

Note: Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.

Features of IDBI Bank FD Account

The features of IDBI Bank FDs are as follows:

  • Offers a range of deposit options to suit varying client needs
  • Deposit tenure can range from 15 days to 20 years for deposits starting from Rs. 10,000
  • Attractive interest rates
  • Overdraft facility available against deposits at competitive rates.
  • Senior citizens get an extra 0.5% benefit on the interest rate on fixed deposits

Eligibility Criteria for IDBI Bank FDs

To open a Term Deposit Account, an entity is required to submit certain documents. This includes a duly filled and signed Account Opening Form with photos of the applicants and KYC documents. The AOF has to be handed over with the amount for which the deposit is proposed to be made.

FAQs on IDBI Bank FD Rates

What is the interest rate that IDBI Bank offers on senior citizens FDs?

Senior citizens can earn an additional interest of 0.50% over the existing rates.

Can I make alterations to the tenure of my ongoing IDBI Bank Fixed Deposit?

An individual cannot change the tenure of an already active fixed deposit account. However, he or she can close the existing fixed deposit account and open a new one with tenure of his or her choice.

How to open an IDBI Bank Fixed Deposit account without a PAN card?

If PAN is not available, an individual will have to make a declaration in Form 60.

What is the highest interest rate offered on IDBI Bank Fixed Deposit?

An individual can earn interest of up to 7.40% on resident/NRO term deposits of less than Rs. 2 crores.

What are the FD tenure options with IDBI Bank Fixed Deposit?

The minimum and maximum tenure for fixed deposits is 15 days and 20 years, respectively.

What is the minimum amount required to start an IDBI Bank Fixed Deposit account?

The minimum amount required for Retail Term Deposit is Rs.10,000.

What is the eligibility criteria to open an IDBI Bank Fixed Deposit account?

To open a Term Deposit Account, an entity will have to submit certain documents. This includes a duly filled and signed Account Opening Form with photos of the applicants and KYC documents. The AOF has to be handed over with the amount for which the deposit is proposed to be made.

Can I open my IDBI Bank Fixed Deposit without a PAN card?

While it is possible to open a fixed deposit account without a PAN card, there are certain implications to it. The TDS applicable will be recovered at 20% (as against 10% with PAN card). There will be no TDS credit from the Income Tax department, and no TDS certificate shall be issued (As per CBDT circular no: 03/11). Additionally, penal TDS will apply and Form 15G/H and other exemption certificates become invalid. It must be noted that no deposit for a sum equal to or more than Rs. 50,000 shall be booked if the PAN is not provided.