Latest FD rates offered by IDBI Bank. (Mint)
Latest FD rates offered by IDBI Bank. (Mint)

IDBI Bank revises fixed deposit (FD) rates. Check here for latest FD rates

  • IDBI Bank has revised interest rates on FD effective 1st October
  • IDBI Bank FD rates: The bank offers multiple FD schemes to its customers

IDBI Bank has revised interest rates on fixed deposit (FD) with effect from 1st October. The bank offers multiple FD schemes to its customers. Fixed deposits of IDBI Bank have a higher interest rate as compared to their saving deposits. After the latest revision, FD interest rates in IDBI Bank range from 3.50 to 6.65% for FDs maturing in 7 days to 20 years. IDBI Bank offers special interest rate on FDs for senior citizens. Current IDBI Bank FD rates for senior citizens range from 4% to 7.15%. Earlier, the bank had revised FD rates on 6th September 2019. Another bank, Punjab National Bank (PNB) has also cut the interest rates on FDs in select buckets effective 1st October.

For short-term deposits, with a tenure of 7 days to less than 1 year, IDBI Bank gives interest ranging from 3.50% to 6.15% to general customers. Short term IDBI Bank FD rates for senior citizens range from 4.00% to 6.65%. The bank has kept the interest rate unchanged for deposits maturing in 7 to 14 days at 3.50%. For 15 to 30 days, IDBI gives 4.50% interest, 31 to 45 days 4.75% interest, 46-90 days, 5.50% interest, 91 days to 6 months 5.75% interest. For FDs maturing in 6 months 1 day to 270 days, IDBI Bank offers an interest rate of 6.10% and for deposits with maturity period 271 days and upto less than 1 year, the bank gives 6.15% interest.

IDBI Bank latest FD interest rates from 7 days to less than year (less than 2 crore)

7-14 days 3.50%

15-30 days 4.50%

31-45 days 4.75%

46- 60 days 5.50%

61-90 days 5.50%

91-6 months 5.75%

6 months 1 day - 270 days 6.10%

271 days upto 1 year 6.15%

IDBI Bank latest FD interest rates from 1 year to 5 years (less than 2 crore)

1 year 6.65%

1 year-2 years 6.55%

2 years to 3 years 6.50%

3 years to 5 years 6.50%

5 years 6.40%

IDBI Bank FD rates are the highest for deposits with a tenure of 1 year, wherein the FD rate of interest is 6.65% for general customers and 7.15% for senior citizens. For FDs maturing between 1 year and 2 years, IDBI Bank gives 6.55% interest. Deposits maturing in 2 years and 5 years will fetch an interest rate of 6.50%. Term deposits maturing in 5 years will fetch an interest rate of 6.40%. These deposits are also known as tax-saving FD.

IDBI Bank latest FD interest rates from 5 years to 20 years (less than 2 crore)

> 5 years - 7 years 6.35

>7 years - 10 years 6.35

>10 years - 20 years* 6.00

IDBI Bank FD interest rates for long term deposits with tenure of 5 years to 20 years offer interest ranging from 6.00% to 6.35%. FDs maturing in 5 years and 10 years, gives 6.35% interest. IDBI Bank fixed deposit rates for deposits with a tenure of 20 years is 6.00%.

From 1st October itself, IDBI Bank has introduced repo-linked retail loans meeting the RBI deadline.

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