The IDBI Bank offers a wide array of Fixed Deposit schemes to fulfil the investment requirements of depositors across tenures. The bank provides 4 types of deposit schemes namely IDBI Bank Freedom Deposit Scheme, IDBI Bank Suvidha Tax Saving Fixed Deposit Scheme, IDBI Bank Godhuli Retail Term Deposit Scheme and IDBI Bank Floating Rate Term Deposit Scheme to help individuals save a proportionate amount monthly. Here’s a summarised list of IDBI FD Interest rates:
IDBI FD Rates 2019
Rate of Interest on Fixed Deposits of up to less than Rs. 2 crore
| Tenure | Regular Citizens | Senior Citizens |
| 7-14 days | 3.50% | 4.00% |
| 15-30 days | 5.00% | 5.50% |
| 31-45 days | 5.25% | 5.75% |
| 46-60 days | 5.75% | 6.25% |
| 61 to 90 days | 6.00% | 6.50% |
| 91 to 6 months | 6.25% | 6.75% |
| 6 months 1 day to 270 days | 6.35% | 6.85% |
| 271 days to < 1 year | 6.50% | 7.00% |
| 1 year | 7.10% | 7.60% |
| >1 yrs to 2 yrs | 7.05% | 7.55% |
| >2 yrs to < 3 yrs | 6.90% | 7.40% |
| 3 yrs to < 5 yrs | 6.85% | 7.35% |
| 5 years | 6.85% | 6.75% |
| > 5 yrs – 7 yrs | 6.25% | 6.75% |
| >7 yrs – 10 yrs | 6.25% | 6.75% |
| >10 yrs – 20 yrs | 6.00% | 6.50% |
Note: The above mentioned interest rates are applicable with effect from July 19, 2019.
Rate of Interest on Fixed Deposits of Rs. 2 crore to Rs. 5 crore
| Tenure | Rate of Interest (%) | Rate of Interest |
| 7 to 14 days | 3.50% | 4.00% |
| 15 to 30 days | 5.00 % | 5.50% |
| 31 to 45 days | 5.25% | 5.75% |
| 46 to 60 days | 5.75% | 6.25% |
| 61 to 90 days | 6.00 % | 6.50% |
| 91-6 months | 6.25% | 6.75% |
| 6 months 1 day to 270 days | 6.35% | 6.85% |
| 271 days to < 1 year | 6.50% | 7.00% |
| 1 year | 7.10% | 7.60% |
| >1 year – 2 years | 7.05% | 7.55% |
| >2 years to < 3 years | 6.90% | 7.40% |
| 3 years to < 5 years | 6.85% | 7.35% |
| 5 years | 6.85% | 7.35% |
| >5 years – 7 years | 6.25% | 6.75% |
| >7 years – 10 years | 6.25% | 6.75% |
| >10 years – 20 years | 6.00% | 6.50% |
NRE (Non Resident External) Fixed Deposit Interest Rates
| Tenure | Interest Rate on Fixed Deposits of up to less than Rs. 2 crore |
| 1 year | 7.10% |
| >1 yrs to 2 yrs | 7.05% |
| >2 yrs to < 3 yrs | 6.90% |
| 3 yrs to < 5 yrs | 6.85% |
| 5 years | 6.25% |
| > 5 yrs – 7 yrs | 6.25% |
| >7 yrs – 10 yrs | 6.25% |
Note- The above mentioned rates are applicable w.e.f July 19th 2019.
NRO (Non Resident Ordinary) Fixed Deposit Interest Rates
| Tenure | Fixed Deposits of up to less than Rs. 2 crore |
| 7-14 days | 3.50% |
| 15-30 days | 5.00% |
| 31-45 days | 5.25% |
| 46-60 days | 5.75% |
| 61 to 90 days | 6.00% |
| 91 to 6 months | 6.25% |
| 6 months 1 day to 270 days | 6.35% |
| 271 days to < 1 year | 6.50% |
| 1 year | 7.10% |
| >1 yrs to 2 yrs | 7.05% |
| >2 yrs to < 3 yrs | 6.90% |
| 3 yrs to < 5 yrs | 6.85% |
| 5 years | 6.85% |
| > 5 yrs – 7 yrs | 6.25% |
| >7 yrs – 10 yrs | 6.25% |
Note- The above mentioned rates are applicable w.e.f July 19th 2019.
FCNR (Foreign Currency Non-Resident) Fixed Deposit Interest Rates
| Tenure | USD | GBP | EUR | AUD | CAD | JPY | SGD | HKD | CHF |
| 1 year to less than 2 years | 2.74 | 1.50 | 0.10 | 1.83 | 2.40 | 0.31 | 2.39 | 2.48 | 0.00 |
| 2 years to less than 3 years | 2.53 | 1.49 | 0.08 | 1.79 | 2.31 | 0.24 | 2.29 | 2.33 | 0.00 |
| 3 years to less than 4 years | 2.47 | 1.51 | 0.10 | 1.80 | 2.29 | 0.19 | 2.25 | 2.27 | 0.00 |
| 4 years to less than 5 years | 2.47 | 1.54 | 0.15 | 1.91 | 2.30 | 0.15 | 2.23 | 2.29 | 0.00 |
| 5 years only | 2.51 | 1.60 | 0.23 | 1.97 | 2.34 | 0.14 | 2.26 | 2.34 | 0.00 |
Note- No interest payable on FCNR deposits closed prematurely in less than 1 year. All figures in % per annum. Effective July 1st, 2019
RFC (Resident Foreign Currency) Fixed Deposit Interest Rates (w.e.f. July 1st, 2019) in % p.a.
| Tenure | USD | GBP | EURO | JPY |
| Less than 30 days | 2.87 | 0.00 | 0.00 | 0.00 |
| 30 days – 90 days | 2.82 | 0.00 | 0.00 | 0.00 |
| 91 days – 6 months | 2.71 | 0.00 | 0.00 | 0.00 |
| 6 months 1 day < 1 year | 2.68 | 0.00 | 0.00 | 0.00 |
| 1 year < 2 years | 2.49 | 1.25 | 0.00 | 0.00 |
| 2 years < 3 years | 2.28 | 1.24 | 0.00 | 0.00 |
| 3 years only | 2.22 | 1.26 | 0.00 | 0.00 |
Types of IDBI Bank Fixed Deposit Schemes
1. IDBI Bank Freedom Deposit Scheme
Eligibility
- Resident Individual (sole or joint account)
- Hindu Undivided Family
- Private and Public limited companies
Features
- The scheme has a minimum deposit requirement of Rs. 10,000.
- The deposit tenure under the scheme ranges from 15 days to 20 years.
- The scheme offers interest rates same as card interest rates applicable on FDs across tenures and shall be paid either monthly at discounted value or quarterly or annually at simple interest rate.
- The deposit under the scheme gets renewed automatically on maturity.
- An overdraft of up to 90% of the deposit is allowed at competitive rates.
2. IDBI Bank Suvidha Tax Saving Fixed Deposit Scheme
Eligibility
- Resident Individual (sole or joint account)
- Hindu Undivided Family
Features
- The scheme allows a maximum deposit of Rs. 1.5 lakh for 5 years.
- The rate of interest stands at 6.00% for regular citizens and 6.50% for senior citizens.
- The deposit can be withdrawn as a lump sum only when it matures at the end of 5 years.
- The deposit under the scheme qualifies for tax exemption under section 80C of the Income Tax Act.
3. IDBI Bank Godhuli Retail Term Deposit Scheme
Eligibility
- Resident Individuals aged between 55 years and above but less than 60 years.
Features
- Under the scheme the fixed deposit automatically starts earning your senior citizen interest rates once the depositor attains the age of 60 years.
- The FD can be booked with a minimum of Rs. 10,000 and a maximum of less than 1 crore.
- The deposit tenure ranges between 1 year to 20 years.
- The applicable rate of interest is divided into two periods:
From the date of booking till attainment of senior citizenship– Card rates applicable to non-senior citizens.
From the date of attainment of senior citizen status till the date of maturity of the deposit– The rate of interest shall be the one prevailing on senior citizen deposits at the time of booking the Godhuli deposit for the tenure corresponding to the time period between the date of attainment of senior citizen status and the date of maturity of the deposit.
- The scheme does not levy any penalty on premature withdrawals.However, renewal of deposit is not allowed.
- The overdraft facility against the deposit is available at competitive rates.
Note: The minimum residual tenure of the deposit i.e the period in between the attainment of senior citizen status by the depositor and the maturity of the deposit should be at least equal to the minimum tenure applicable for senior citizen deposits at the point of time of booking the Godhuli deposit.
4. IDBI Bank Floating Rate Term Deposit Scheme
Eligibility
- Resident Individual (sole or joint account)
- Minor himself/herself or through his/her guardian
- Karta of Hindu Undivided Family
Features
- The deposit can be made with a minimum amount of Rs. 10,000 with a maximum ceiling of less than Rs.1 crore.
- The deposit is accepted for a minimum of 1 years and a maximum of 20 years.
- The rate of interest under the scheme is not fixed for the entire tenure of the deposit. It gets reset every 3 months on the beginning of each calendar quarter.
- The interest shall be paid on a quarterly basis on the last day of each quarter.
- An overdraft facility is available against up to 90% of the Floating Rate Term Deposit.
- Auto-renewal facility is available only for deposits with tenure above 1 year.
- The scheme applies a lock-in period of 1 year on deposits. Premature withdrawals are permitted only after the expiry of the lock-in period.
IDBI Bank FD Calculator
Investors can check the maturity amount of the scheme by using the IDBI Bank FD Interest Rate Calculator at Paisabazaar. Also, IDBI Bank FD Interests Rates differ for different tenures. So the investors can also decide a preferred tenure of investment by entering different rates and calculating their total earning. In case of reinvestment schemes, investors can check the interest and the maturity amount by using the compound interest calculator.
You can visit the nearest IDBI Bank branch and contact the officials for IDBI Bank FD interest rates of schemes above Rs 1 Crore. You can check the IFSC of the branch at Paisabazaar.