IDBI Bank FD Interest Rates 2025

What is the IDBI Bank Fixed Deposit?

The IDBI Bank FD is a term deposit product with the facility to invest a lump sum amount for a particular tenure and earn a pre-determined interest rate. The deposit amount starts from ₹10,000, with interest payment options of monthly, quarterly, or yearly as desired. The interest is 0.50% more for senior citizen customers for deposits of 1 year and above. IDBI Bank offers a variety of FD products. For example, Floating Rate Term Deposits (FRTDs) are an FD variant where the rate of interest is not fixed for the entire term. It gives customers the benefits of FD rate changes without closing or re-booking the FD.

Key Benefits of IDBI Bank Fixed Deposit

Here are some key benefits of investing in an IDBI Bank FD:

1. Flexible Periods to Choose From:

   You can choose how long you want to keep your money invested. The deposit period starts from as little as 7 days and goes up to 20 years.

2. Extra Interest for Senior Citizens:

   If you are a senior citizen (60 years or older), you get an additional 0.50% interest on deposits with a tenure of 1 year or more. This helps older individuals earn a bit more from their savings, which is especially useful for retirement income.

3. Get Money Monthly, Quarterly, or Annually:

   You can decide how often you want to receive your interest. It can be monthly, quarterly, or once a year. If you don't need the interest right away, you can also choose to reinvest it and let it grow with your FD.

4. Option to Borrow Money Without Breaking Your FD:

   In case you need money urgently, you don’t have to close your FD. Instead, IDBI Bank allows you to take a loan or overdraft of up to 90% of the FD amount. The bank will charge you interest in addition to the FD rates.

5. Auto-Renewal Feature:

   If you forget to renew your FD when it matures, the bank will automatically renew it for the same term at the interest rate available on that date. This helps ensure you don’t lose interest even for a single day.

6. Tax-Saving Deposit Option:

   IDBI Bank also offers a special 5-year Tax-Saving FD. You can invest up to ₹1.5 lakh per year in this FD and get tax benefits under Section 80C. This option combines savings with tax planning.

7. Sweep-In Option for Linked Savings Account:

   If you link your FD to your savings account, IDBI Bank can automatically move extra money into an FD when your savings balance goes above a certain limit. This helps you earn higher interest than a regular savings account while keeping your money accessible.

IDBI Bank FD Interest Rates

IDBI Bank rates vary depending on the amount, tenure, and FD type. Below is an overview of indicative interest rates for deposits below ₹3 crore:

Retail Term Deposit Rates (< ₹3 Cr)

*IDBI Bank FD interest rates w.e.f. May 16, 2025
**Only applicable for deposits from judicial/statutory awards and margin money for guarantees.

Utsav Callable Fixed Deposits

*IDBI Bank FD interest rates w.e.f. May 16, 2025; rates
valid until June 30, 2025

IDBI Chiranjeevi – Super Senior Citizen FD

*IDBI Bank FD interest rates w.e.f. May 16, 2025

Suvidha Tax Saving Fixed Deposit (5 Years)

*IDBI Bank FD interest rates w.e.f. May 16, 2025

How to Open an IDBI Bank Fixed Deposit (FD)

Whether you're a new or existing customer, you can open an FD at IDBI Bank in just a few steps.

1. Offline Method

   For those who prefer visiting a branch:

   • Go to your nearest IDBI Bank branch.

   • Submit your KYC documents and a photograph.

   • Fill out the FD application form.

   • Choose the deposit amount, tenure, and payout option.

   • Get your FD receipt from the bank.

2. Online Method (Phone Banking Request)

   For existing IDBI Bank customers with internet or mobile banking:

   • Call toll-free: 1800-209-4324 or 1800-22-1070 (24/7)

   • Request for an FD.

   • A representative will assist you and schedule a callback.

3. Mobile Banking

   • Open the IDBI Bank’s Mobile Banking app

   • Click on the request button on the home screen of the app

   • Click on the option “Open FD”

   • Enter the required details (like account no, name, and branch)

   • Now select the type of deposit, i.e., “Fixed deposit”

   • Enter the deposit amount and select the tenure (7 days to 10 years).

   • Add your nominee details.

   • Choose the FD type (cumulative, monthly payout, etc.) and interest payout option.

   • Confirm, and the receipt will be generated.

Note: The minimum deposit amount is ₹10,000. Tenure options range from 7 days to 20 years.

Documents Required for IDBI Bank FD

Here are the essential documents you may need to open an IDBI Bank FD:

• Photo ID proof (Aadhaar, Passport, Voter ID, etc.)

• Address proof (Utility bill, Aadhaar, passport, etc.)

• PAN Card (mandatory for TDS and tax purposes)

• Recent passport-size photograph

Taxation on IDBI Bank FD Interest

The interest earned on IDBI Bank Fixed Deposits is taxable under the heading "Income from Other Sources." As per the latest rules for FY 2025–26, TDS is deducted at 10% if the annual interest exceeds ₹50,000 for general citizens and ₹1,00,000 for senior citizens. If PAN is not provided, TDS is deducted at a higher rate of 20%. To avoid excess deduction, eligible individuals can submit Form 15G or 15H, as applicable.

Key Takeaways

IDBI Bank FD interest rates are available in a large tenure spectrum, accommodating both long-term and short-term savers. With a lower amount of ₹10,000 and various interest payout options, the FD is ideal for different financial objectives. Senior citizen customers get higher FD interest rates, while facilities such as sweep-in, overdraft, and tax-saving facilities prioritise convenience. Depending on their needs, Customers have options between reinvestment plans and regular income.

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