Features and Benefits of the IDBI Fixed Deposit
1. Simple Investment with Liquidity and Flexibility: IDBI Bank Fixed Deposit is a secure investment option available for investors that provides guaranteed returns on investment. Fixed deposit returns are unaffected by any external circumstances, and the investor will get sure-shot returns on FD.
2. Flexible Tenure: IDBI Bank provides a wide range of tenure options; customers can choose from a variety of terms ranging from 7 days to 10 years with an IDBI Bank Fixed Deposit. This allows customers flexibility, as they can choose the tenure as per their investment horizon.
3. Premature/Partial Withdrawal: IDBI Bank Fixed Deposits are a very liquid investment option for customers. The bank gives the customer the option to make withdrawals in times of emergency. Customers can close their deposits partially or fully before the date of maturity and have funds easily disbursed to the customer’s account for emergency use.
4. Additional Interest: IDBI Bank offers an extra 0.50% interest rate to senior citizens on top of the regular fixed deposit interest rate. This allows senior citizens to invest their savings at higher returns and manage their retirement funds more efficiently.
5. Overdraft Against FD: IDBI Bank also offers overdrafts against fixed deposits. This gives customers the advantage of getting instant funds without breaking the terms of a fixed deposit.
6. Automatic Renewal Facility: IDBI Bank allows customers to open an FD that will automatically renew. This ensures that your FD is automatically renewed for the same term on the maturity date, which results in no loss of interest and manages the customer’s fund better.
7. Interest Payout: IDBI Bank gives its customers a distinct feature to choose the type of interest payout. Customers can choose options from monthly, quarterly, and annually based on their wishes.
IDBI FD Interest Rates 2024
IDBI stands for Industrial Development Bank of India. It is an emerging Indian banking and financial services company and it is headquartered in Mumbai, Maharashtra. IDBI offers a wide range of bundles of banking products and services to its customers these banking products also include FD.
IDBI Bank provides different FD options to their customers, the basic aim is to provide a safe option that can be utilized to save money for a fixed tenure and give interest earnings to the customers. At the time of opening the account with the bank the depositor can deposit only once, during the ongoing tenure depositing additional money is not allowed. There are a wide range of benefits of opening an FD account with IDBI Bank as they provide an easy loan facility, auto-renewal of FD, and many other things.
Ownership |
Private Sector Bank |
---|---|
CEO |
Rakesh Sharma |
Headquartered In |
Mumbai |
Founded In |
1964 |
Customer Support Number |
1800 209 4324 |
Table of Content
- IDBI Bank FD Interest Rates on Domestic Deposits (Less than ₹2 crore)
- IDBI Bank FD Interest Rates on Domestic Deposits (₹2-₹5 crore)
- Features and Benefits of the IDBI Fixed Deposit
- Types of IDBI Bank FD Schemes
- How to Invest in IDBI Bank FD?
- Eligibility to Open an IDBI Bank FD Account
- Documents Required to Open IDBI Bank FD
- Tax on IDBI Bank Fixed Deposit
- Loan Against IDBI Bank FD
- Premature Closure of IDBI Bank Fixed Deposit
- Frequently Asked Questions (FAQs)