How to Invest in IDBI Bank FD?

1. Using the Internet Banking Facility

  • First of all log in to the IDBI Bank Net Banking account with the credentials.
  • Now, under the ‘Request’ tab, choose the option ‘Opening a Fixed Deposit’.
  • The user will have to fill in all the deposit information and the desired maturity period.
  • After verifying the details, click on the ‘Submit’ button.
  • A confirmation notification will be displayed on successful FD creation, the user shall be intimated via his registered email and phone number.
  • It is to be noted that the nominee details are required to be physically filled out and submitted to the bank.

2. Using the Mobile Application

  • The user is required to download the official IDBI Bank App from the Play Store or Apple App Store. After downloading user will have to enter the credentials of his IDBI account to log in.
  • Users will have to select the ‘Opening a Fixed Deposit’ option and proceed further.
  • Now, enter all the details, and once verifying the details click on the ‘Submit’ button.
  • A confirmation notification will be displayed on your application, and FD will be successfully created. The user shall be intimated via his registered email and phone number.
  • It is to be noted that the nominee details are required to be physically filled out and submitted to the bank.

3. Using the Offline IDBI Bank Branch

Apart from the above two the user can also visit the nearest IDBI Bank branch, and ask for the FD application form. The user will have to fill out the FD form select the tenure of the IDBI FD along with the all necessary information and fulfill all the document requirements along with the nominee details. On successfully validating the information the bank will issue the FD certificate.

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)

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IDBI Bank FD Interest Rates on Domestic Deposits (Less than ₹2 crore)

Tenure of the FD Rate of Interest for General Citizens (Below 60 Years of Age) Rate of Interest for Senior Citizens ( Above 60 Years of Age) 0-6 Days NA NA 07-30 days 3.00% 3.50% 31-45 days 3.25% 3.75% 46- 60 days 4.25% 4.75% 61- 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 and 444 Days) 6.80% 7.30% Between 2 Years to less than 3 years 7.00% 7.50% Between 3 years to less than 5 years 6.50% 7.00% Between 5 years to less than 10 years 6.25% 6.75% Between 10 years to 20 years 4.80% 5.30%...

IDBI Bank FD Interest Rates on Domestic Deposits (₹2-₹5 crore)

Tenure of the FD Rate of Interest for General Citizens (Below 60 Years of Age) Rate of Interest for Senior Citizens ( Above 60 Years of Age) 7 – 14 days 5.26% 5.76% 15 – 30 days 5.26% 5.76% 31– 45 days 5.41% 5.91% 46 – 90 days 6.36% 6.86% 91 – 180 days 6.36% 6.86% 181 – 250 days 6.46% 6.96% 251 days – 270 days 6.61% 7.11% 271 days to < 1 year 6.71% 7.21% 1 year 6.86% 7.36% More than 1 year – Less than 1 year 3 month 6.86% 7.36% More than 1 yr 3 months – Less than 2 years 6.86% 7.36% More than 2 years – Less than 36 Months 6.61% 7.11% More than 36 months – Less than 5 years 6.51% 7.01% More than 5 years – Less than 7 years 6.51% 7.01% More than 7 years – 10 years 6.51% 7.01%...

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....

Types of IDBI Bank FD Schemes

1. IDBI Bank Suvidha Fixed Deposit...

How to Invest in IDBI Bank FD?

1. Using the Internet Banking Facility...

Eligibility to Open an IDBI Bank FD Account

Consumers should first determine whether they are eligible to invest in IDBI Bank. The following are the prerequisites for investing in an IDBI Bank fixed deposit,...

Documents Required to Open IDBI Bank FD

The following documents are required to open a fixed deposit at IDBI Bank,...

Tax on IDBI Bank Fixed Deposit

Any investment made under the IDBI Bank Tax Savings FD entitles the investor to a tax saving of up to ₹1,50,000 per annum. No other IDBI Bank FDs are eligible for tax savings under Section 80C of the Income Tax Act....

Loan Against IDBI Bank FD

IDBI Bank offers loans against its fixed deposits. Customers can receive up to 90% of the deposit as a loan against a fixed deposit. The rate of interest charged on a loan is between 1% and 2%. Furthermore, it is worth noting that the IDBI bank loan tenure will be limited to the IDBI fixed deposit tenure....

Premature Closure of IDBI Bank Fixed Deposit

IDBI Bank allows premature withdrawals from IDBI fixed deposits. However, such premature withdrawals are not allowed from the tax-saving fixed deposit. However, IDBI Bank charges a penalty if the deposits are withdrawn before the completion of the tenure of the FD. IDBI Bank levies penalties as per the terms and conditions of the bank. The bank generally deducts 1% as a penalty, and such closures include withdrawals made either through sweep-ins or partial withdrawals....

Frequently Asked Questions (FAQs)

1. What is the maximum and minimum limit of deposit under the IDBI Bank FD scheme?...