IDBI Bank Latest Fixed Deposit Interest Rates
Interest Rate on Term Deposits (w.e.f. November 01, 2022)
| Interest Rate (% p.a.) | ||
| Maturity Slab | Retail Term Deposits (< 2 Cr) | |
| General Customers | Sr. Citizen | |
| 0-6 Days | NA | NA |
| 07-14 days | 3 | 3.5 |
| 15-30 days | 3 | 3.5 |
| 31-45 days | 3.35 | 3.85 |
| 46- 60 days | 4.25 | 4.75 |
| 61-90 days | 4.25 | 4.75 |
| 91-6 months | 4.5 | 5 |
| 6 months 1 day to 270 days | 5.25 | 5.75 |
| 271 days up to< 1 year | 5.5 | 6 |
| 1 year | 6.25 | 6.75 |
| > 1 Year to 554 Days | 6.25 | 7.00# |
| 556 days to < 2 years | 6.25 | 7.00# |
| > 2 Years to < 3 Years | 6.25 | 7.00# |
| 3 years to < 5years | 6.1 | 6.85# |
| 5 years | 6.1 | 6.85# |
| > 5 years to 7 years | 6.1 | 6.85# |
| >7 years to 10 years | 6.1 | 6.85# |
| >10 years to 20 years$ | 4.8 | 5.30 |
| Tax Saving FD | ||
| 5 years | 6.1 | 6.85# |
$ Maturity bucket is eligible only for deposits from following beneficiaries (with effect from January 1st, 2021).
1) Awards from Motor Accident Tribunal / Courts / Other Judicial/ Statutory Bodies, 2) Specific Cases of margin money for Bank Guarantees
#rates on IDBI Naman Senior Citizen Deposit (total mark-up 0.75% over Card Rate).
General Terms & Conditions:
- Tenure for NRO Term Deposit is 07 days to 10 years.
- Tenure for NRE Term Deposit is 1 year to 10 years.
- Staff & Sr. Citizen rates are not applicable to NRO & NRE Term Deposits.
- No interest is paid if the deposit is held for the tenure of below 7 days, the minimum period for Term Deposits as per RBI guidelines.
- Interest payable on prematurely withdrawn deposits will be the rate applicable for the amount and the period for which the deposit remained with the Bank (rate applicable for that tenure on the original date of the deposit). To illustrate as an example, if a deposit is placed for 5 years and after 1 year the depositor wants to close the deposit prematurely, then the interest rate applied will be the rate which was applicable for one year on the original date of deposit.
- Bank will levy a penalty of 1%, on the applicable rate for deposits closed prematurely. Such closures include the withdrawals through sweep-ins and partial withdrawals as well.
Non Resident Ordinary – NRO Term Deposit rates (Effective From: November 01, 2022)
NRO for deposit less than Rs. 2 Crore
| Maturity Slab | Interest Rate (% p.a.) |
|---|---|
| 7-14 Days | 3.00 |
| 15-30 Days | 3.00 |
| 31-45 Days | 3.35 |
| 46- 60 Days | 4.25 |
| 61-90 Days | 4.25 |
| 91-6 Months | 4.50 |
| 6 Months 1 Day to 270 Days | 5.25 |
| 271 Days up to < 1 Year | 5.50 |
| 1 Year | 6.25 |
| 1 Year to 554 Days | 6.25 |
| 556 Days to to < 2 Years | 6.25 |
| 2 Years to < 3 Years | 6.25 |
| 3 Years to < 5 Years | 6.10 |
| 5 Years | 6.10 |
| > 5 years – 7 years | 6.10 |
| >7 years – 10 years | 6.10 |
Non Resident (External)
| Maturity Slab | Interest Rate (% p.a.) |
|---|---|
| 1 Year | 6.25 |
| > 1 Year to 554 Days | 6.25 |
| 556 Days to < 2 Years | 6.25 |
| > 2 Years to < 3 Years | 6.25 |
| 3 Years to < 5 Years | 6.10 |
| 5 Years | 6.10 |
| > 5 Years – 7 Years | 6.10 |
| >7 Years – 10 Years | 6.10 |
Note:-
- The above rates are applicable only on Fresh NRE / NRO deposits and on renewal of maturing deposits for amounts less than Rs. 2 crore. For the interest rate on NRE / NRO deposit for amount Rs 2 Crore and above, kindly refer to “RATES FOR BULK DEPOSITS ( Rs. 2 cr. and Above )” under URL http://www.idbibank.in/interest-rates.aspx
- No interest will be paid on NRE deposits closed pre-maturely in less than 1 year.
The additional 50 bps on NRE FD (excluding NRE SSP/ SSP Plus RD) in maturity buckets between 1 year and