| IDBI Bank FD Interest Rates (p.a.) Highlights 2022 | |
| Highest slab rate | 5.60% (for 5 years to 7 years) |
| For 1 year | 5.15% |
| For 2 years | 5.25% |
| For 3 years | 5.50% |
| For 4 years | 5.50% |
| For 5 years | 5.60% |
| Tax-Saving FD | 5.60% |
IDBI Bank FD Rates 2022
Fixed Deposit Rates of Domestic/NRO Deposits of less than Rs. 2 crore w.e.f. from April 20, 2022
| Tenure | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 0 – 6 days | NA | NA |
| 07 – 14 days | 2.70 | 3.20 |
| 15 – 30 days | 2.70 | 3.20 |
| 31 – 45 days | 3.00 | 3.50 |
| 46 – 60 days | 3.25 | 3.75 |
| 61 – 90 days | 3.40 | 3.90 |
| 91 days – 6 months | 3.75 | 4.25 |
| 6 months 1 day – 270 days | 4.40 | 4.90 |
| 271 days – less than 1 year | 4.50 | 5.00 |
| 1 year | 5.15 | 5.65 |
| Above 1 year – 2 years | 5.25 | 6.00* |
| Above 2 years – less than 3 years | 5.35 | 6.10* |
| 3 years – less than 5 years | 5.50 | 6.25* |
| 5 years | 5.60 | 6.35* |
| Above 5 years – 7 years | 5.60 | 6.35* |
| Above 7 years – 10 years | 5.50 | 6.25* |
| Above 10 years – 20 years | 4.80 | 5.30 |
Note: 1. *Additional 0.75% interest rates over regular deposit rates are offered to senior citizens under IDBI Naman Senior Citizen Deposit
- Additional senior citizen rates are not applicable to NRO deposits
IDBI Tax Saver Deposit w.e.f. April 20, 2022
| Tenure | Regular Citizens | Senior Citizens |
| 5 years (Suvidha Tax Saving Fixed Deposits) | 5.60% | 6.35% |
NRE Fixed Deposit Interest Rates of deposits less than Rs 2 crores w.e.f. April 20, 2022
| Tenure | Regular Citizens (% p.a.) |
| 1 year | 5.15 |
| Above 1 year – 2 years | 5.25 |
| Above 2 years – less than 3 years | 5.35 |
| 3 years – less than 5 years | 5.50 |
| 5 years | 5.60 |
| Above 5 years – 7 years | 5.60 |
| Above 7 years – 10 years | 5.50 |
Interest Rates on FCNR (B) deposits w.e.f. 1 May, 2022
| Tenure | Interest Rates (% p.a.) | ||||||||
| USD | GBP | EUR | AUD | CAD | JPY | SGD | HKD | CHF | |
| 1 year – less than 2 years | 1.53 | 0.98 | 0.00 | 1.31 | 1.56 | 0.00 | 0.76 | 1.12 | 0.00 |
| 2 years – less than 3 years | 1.93 | 1.24 | 0.00 | 1.75 | 1.78 | 0.00 | 1.02 | 1.67 | 0.00 |
| 3 years – less than 4 years | 2.18 | 1.41 | 0.00 | 2.00 | 2.05 | 0.00 | 1.33 | 1.92 | 0.00 |
| 4 years – less than 5 years | 2.28 | 1.46 | 0.25 | 2.10 | 2.28 | 0.00 | 1.51 | 2.02 | 0.00 |
| 5 years only | 2.38 | 1.52 | 0.46 | 2.20 | 2.36 | 0.00 | 1.65 | 2.12 | 0.00 |
Interest Rates on RFC deposits w.e.f. 1 May, 2022
| Tenure | Interest Rates (% p.a.) | |||
| USD | GBP | EUR | JPY | |
| 91 days – 6 months | 0.68 | 0.00 | 0.00 | 0.00 |
| 6 months 1 day – less than 1 year | 0.83 | 0.00 | 0.00 | 0.00 |
| 1 year – less than 2 years | 1.53 | 0.98 | 0.00 | 0.00 |
| 2 years – less than 3 years | 1.93 | 1.24 | 0.00 | 0.00 |
| 3 years | 2.18 | 1.41 | 0.00 | 0.00 |
Types of IDBI Bank FD Schemes
Suvidha Fixed Deposit (Regular Fixed Deposit with Reinvestment of Interest Component)
- This scheme allows reinvestment of the interest component to the deposit amount
- Minimum deposit amount: Rs 10,000
- Tenure: 7 days – 20 years
- Additional 0.50% interest rate is offered to senior citizens
- Auto renewal facility is available
- Monthly, Quarterly and Annual payout option is available
- Depositors can avail overdrafts of up to 90% against their fixed deposits
- This scheme offers Sweep In Savings where a savings account can be linked with multiple FDs
Suvidha Tax Saving Fixed Deposit
- Depositors can invest up to Rs. 1.5 lakh in a financial year for 5 years
- Bank offers door to door complete banking experience
- Tenure: 5 years
Floating Rate Fixed Deposit
- Deposit amount: Minimum-Rs. 10,000 and in multiple of Rs. 1,000 thereafter; Maximum- Less than Rs.1 crore
- Tenure: 1 year – 20 years
- Depositors can avail overdrafts of up to 90% against their floating rate fixed deposits
- Nomination facility is available
- Additional 0.50% interest rate is offered to senior citizens
- Lock in period: 1 year
- Auto renewal facility is available with tenure above 1 year only
- Premature withdrawal is not allowed for up to 1 year
- Quarterly payout option is available
NRE Fixed Deposits
- Minimum deposit amount: Rs 10,000
- Tenure: 1 year – 10 years
- Depositors can opt for monthly/quarterly interest payout option or cumulative interest option
- No interest will be paid if the FD is closed prematurely in less than 1 year
- Loan against deposits facility is available
- Automatic renewal facility is available of FD on maturity
NRO Fixed Deposits
- Tenure:15 days – 10 years
- Depositors can opt for monthly/quarterly interest payout option or cumulative interest option
- Loan against deposits facility is available
- Automatic renewal facility of fixed deposit is available on maturity
Foreign Currency Non-Resident (FCNR) Scheme
- Depositors can hold deposits in any of these 9 currencies: US Dollars (USD), British Pound Sterling (GBP), Euro, Australian Dollar (AUD), Canadian Dollar (CAD), Hong Kong dollar (HKD), Singapore Dollar (SGD), Swiss franc (CHF) and Japanese Yen (YEN)
- Minimum deposit amount: USD 1,000 or its equivalent in other currencies
- Tenure: 1 year – 5 years
- Principal and interest earned is fully repatriable
- No penalty on premature closure
- No interest will be paid if deposits closed before 1 year
- Loan against deposits facility is available
- Depositors can opt for half yearly interest payout option or cumulative interest option
- Automatic renewal facility is available
Premature Withdrawal of Fixed Deposits
- Interest will be paid after deducting the penal rate (1%) from the applicable rate. The applicable rate would be the contracted rate or the interest rate applicable for the period of deposit for which the fixed deposit remained with the bank, whichever is lower. This also includes partial withdrawals and withdrawals through sweep-ins
- No premature withdrawal is allowed for up to 1 year in case of floating rate fixed deposits
- In case of NRO & FCNR FDs, interest payable will be the contracted rate or the interest rate applicable for the tenure for which the FD remained with the bank, whichever is lower
IDBI Bank FD Calculator
For those looking for investing in an IDBI FD scheme, it is highly advised to make use of tools like the FD Calculator which eases out the selection process of which FD to put one’s savings in. FD calculator available on Paisabazaar.com can be used to determine how much one shall earn as interest in investing money in a fixed deposit scheme offered by IDBI Bank. The said tool calculates the maturity amount taking the prevailing FD rates along with the deposit amount and tenure for which deposit is to be kept with the bank. It saves time and also eliminates the scope of error which can occur in manual calculations.
FAQs
Q. What is the highest IDBI FD interest rate one can get currently?
A. Currently, customers can earn a maximum of 5.60% (regular individuals) / 6.35% (senior citizens) of interest in investing in IDBI FD.
Q. Do senior citizens enjoy any special privileges on investing in IDBI fixed deposits?
A. Yes, the bank provides preferential IDBI fixed deposit rates ranging from 3.20- 6.35% which is 0.50% higher as compared to regular rates.
Q. Is it necessary to submit PAN while opening an IDBI FD account?
A. It’s not compulsory although non-submission of PAN card shall lead to TDS @ 20% which otherwise is 10%.
Q. Can one take a loan against the tax-saving fixed deposit scheme by IDBI Bank?
A. Facilities like taking a loan against FD or premature withdrawal are not provided in tax-saving fixed deposit schemes.