IDBI FD Interest Rates

IDBI FD Interest Rates Today – Nov 18, 2024

Industrial Development Bank of India (IDBI) offers fixed deposit interest rates ranging from 3.00% to 7.25% annually for the general public and 3.50% to 7.75% annually for senior citizens, with tenure periods spanning from 7 days to 10 years. IDBI Tax Saving FDs provide an interest rate of 6.50% annually for the general public and 7.00% annually for senior citizen depositors.

Features of IDBI FD Interest Rates

Feature	Description
Interest Rates (%p.a.)	3.00-7.25%
Minimum Deposit	Rs. 10000
Period	7 Days – 20 Years
Senior Citizen (Age Above 60 Year)	Extra 0.5% p.a.
Compounding	Quarterly
Calculate FD Returns	IDBI FD Calculator

IDBI FD Interest Rates [Below Rs.2 Crore]

All interest rates shown below are annual (% p.a.) with effect from 15 February 2024.

Period	General Public	Senior Citizens
7 days to 30 days	3.00	3.50
31 days to 45 days	3.25	3.75
46 days to 60 days	4.25	4.75
61 days to 90 days	4.50	5.00
91 days to 6 months	5.25	5.75
6 months 1 day to 270 days	5.75	6.25
271 days to less than 1 year	6.25	6.75
1 year to 2 years (except 375 days & 444 days)	6.80	7.30
Above 2 years to less than 3 years	7.00	7.50
3 years to 5 years	6.50	7.00
Above 5 years to 10 years	6.25	6.75
Above 10 years to 20 years	4.80	5.30

Utsav Callable FD Interest Rates

All interest rates shown below are annual (% p.a.) with valid up to 31 March 2024.

Period	General Public	Senior Citizens
300 Days	7.05	7.55
375 Days	7.10	7.60
444 Days	7.25	7.75

IDBI TAX Saver Fixed Deposit

IDBI Bank Tax-Saving Fixed Deposit (Suvidha Tax Saving Fixed Deposit) which gives the dual benefits of tax exemption u/s 80c of the Income Tax Act and higher returns on your investments.

Period	General Public	Senior Citizens
5 years	6.50%	7.50%

How to Apply for IDBI FD?

Applying for an IDBI Fixed Deposit (FD) can be done through various channels. Here’s how you can apply:

Offline Method

• Visit your nearest IDBI Bank branch.
• Meet a customer representative and express your interest in opening an FD.
• Fill out the application form and submit necessary documents.
• Deposit the desired amount.

Online (existing customers)

1. Internet Banking:
   • Log in to your IDBI Bank internet banking portal.
   • Choose “Request” and then “Opening a Fixed Deposit”.
   • Select the type of deposit, tenure, and interest payout options.
   • Fill in the details and submit the application.
   • Submit a physical nomination form at the branch.
2. Mobile Banking:
   • If available in your IDBI mobile banking app, you might find an option to apply for FDs.
   • The process might involve selecting the type, tenure, amount, and submitting the request.
3. Phone Banking:
   • Call IDBI Bank’s phone banking numbers: 1800-209-4324 or 1800-22-1070.
   • Speak to a customer care representative and express your interest in opening an FD.
   • They will guide you through the process and collect necessary details.

Additional points to remember:

• Minimum FD amount is Rs. 10,000 for most accounts.
• You need to provide KYC documents if you’re a new customer.
• Check IDBI Bank’s website for current interest rates and available FD schemes.
• Consider factors like tenure, interest rate, and premature withdrawal penalties before choosing an FD.

Eligibility to Open an IDBI FD Account

General Eligibility:

• Individuals: You must be 18 years or above and a resident of India.
• Joint Account Holders: You can open a joint FD account with another individual who also meets the eligibility criteria.
• Minors: Minors can open an FD account with a guardian’s consent. The guardian will operate the account until the minor reaches maturity (18 years).
• NRIs: Non-resident Indians (NRIs) can open an FD account through their Non-Resident External (NRE) or Non-Resident Ordinary (NRO) accounts.
• Hindu Undivided Family (HUF): An HUF can also open an FD account.

Documents Required to Open IDBI FD

The list of documents required to open an FD in the IDBI is:

1. Duly filled IDBI FD account opening form
2. Four passport size photographs
3. Identity Proof as per KYC norms. (PAN, Aadhaar, Voter ID Card, Driving License or Passport)
4. Address proof as per KYC norms. (PAN, Aadhaar, Voter ID Card, Passport or Driving License)
5. Proof of Age (Birth Certificate or Graduation/school passing Certificate)
6. Pan Card or Form No. 60 or 61 of the Income Tax Act (for declaration)
7. Details of your bank account like account number, IFSC code and branch

Popular IDBI FD Schemes (Utsav Callable FD – 444 Days)

Utsav Callable FD (Valid up to March 31, 2024)

• Tenure: 444 days
• Interest Rate: 7.25% p.a. for General Public and 7.75% p.a. for Senior Citizens.
• Deposit Amount: Less than Rs. 2 crores
• Eligibility: Resident customers. Staff & Senior Citizen Rates are not applicable to NRO & NRE term Deposits.

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