IDBI bank offers quite luring interest rates especially for the period of 6 months-1 year for a general investor under once crore of investment, the maximum interest rate being 6.90 percent. For the increase in period of investment, the interest rate is almost constant to 6.75 percent.

Although there is a considerable decline in the interest rate for over 5 years investment considering falling of repo rates. This is kind of a fallback security in which the bank keeps margin for losses which might occur due to falling repo rates.

The interest rate as seen from the table is 6.90 percent for 5 years owing to the same reason. The maximum tenure for investment is 20 years. Below interest rates are effective from 30 December, 2016.

idbi bank fd rates

Table for IDBI Bank FD rates on resident & NRO deposits 2017:

Time PeriodInterest Rate For Amount Below 1 Crore ( % p.a.) Interest Rate For Amount Above 1 Crore (% p.a.)
7 Days to 14 Days4.25%4.00%
15 Days to 30 Days4.25%4.75%
31 Days to 45 Days5.00%4.75%
46 Days to 60 Days5.50%5.25%
61 Days to 90 Days5.75%5.00%
91 Days to 180 Days6.50%6.00%
181 Days to 270 days6.50%6.25%
271 Days to 1 year6.75%6.25%
1 Year6.90%6.25%
1 Year to 2 Years6.90%6.25%
2 Years to 3 Years6.90%6.25%
3 Years to 5 Years6.90%6.25%
5 Years to 10 Years6.75%6.00%
Above 10 Years6.75%6.00%

Suvidha tax saving fixed deposits:

NormalSenior Citizens
6.90%7.40%

Table updated: 4 January, 2017

Calculate maturity value

From Table, IDBI bank provides best interest rates in fixed deposits for the period one to five years. For 1-2 Years deposits, IDBI bank provides 6.90% interest rates. But above five years deposits, It provides little less fixed deposit interest Rates.

Important notes:

  • IDBI bank provides .50% higher Fixed deposit interest rates for senior citizens for above 1 year deposits only.
  • You can’t close deposits under suvidha tax saving scheme before maturity period.

Check it out from official website of IDBI bank @ http://www.idbi.com/interest-rates.asp

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