IDBI Bank NRI FD Rates

Even though Fixed Deposit (FD) and Saving Bank account both are good options to invest one's money, FD is better for growth. Not only people living in the country but NRIs can also invest in these schemes. IDBI Bank offers NRI FD at attractive rates. The bank's Fixed Deposit schemes are tailored according to the individual needs of its customers.

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IDBI bank is continuously expanding globally with excellence in the banking and finance sector to achieve its vision of being the most trusted and preferred bank by all stakeholders.

IDBI Bank Fixed Deposit Account

IDBI Bank not only offers a fixed deposit account facility to the residents of India but also provides smooth, hassle-free services to NRIs. The NRIs can invest in IDBI Bank fixed deposits through their net banking facility. The NRE, NRO accounts holders can avail several benefits such as flexible tenure, higher returns, lower minimum deposit limits, etc. 

As a depositor of the IDBI Bank NRI FD scheme, you can earn a significant amount through interest even for a short period. Your returns on NRE, NRO Fixed deposit account, do not get affected by the market fluctuations. Apart from this, by Fixed Deposit account, you can avail of periodic interest payout, which helps you plan your financial expenses.

IDBI Bank NRI FD Rates

IDBI offers several Fixed Deposit options to both Indian residents and NRIs, which may save tax and offer high-interest rates. These are the fixed deposit rates offered only for Fresh NRE/NRO deposits and on renewal of maturity deposit of less than Rs.2 crores. 

Non-Resident Ordinary – NRO Term Deposit Rates

Maturity Slab Interest Rate (% p.a.)
7-14 days 2.70
15-30 days 2.70
31-45 days 2.80
46-60 days 3.00
61-90 days 3.00
91-06 months 3.50
6 months 1 day to 270 days 4.30
271 days up to <1 year 4.30
1 year 5.05
>1 year-2 year 5.15
>2 years to <3 years 5.20
3 years to <5 years 5.40
5 years 5.50
>5 years- 7 years 5.50
>7 years-10 years 5.25
Get Market Linked Returns Get Market Linked Returns

Non-Resident (External) NRE Fixed Deposit rates

Maturity Slab Interest Rate (% p.a.)
1 Year 5.05
>1 year-2 year 5.15
>2 years to <3 years 5.20
3 years to < 5 years 5.40
5 years 5.50
>5 years- 7 years 5.25
>7 years- 10 years 5.25

Guaranteed Return Investment Plan Guaranteed Return Investment Plan

In FCNR deposits, one can opt for a half-yearly or cumulative interest. 

Maturity Slab GBP USD EUR CAD AUD SGD JPY CHF HKD
1 yr to less than 2 yrs 1.55% 1.28% 0.16% 1.24% 1.19% 1.20% 0.53% 0.00% 1.12%
2 yrs to less than 3 yrs  1.85% 1.70% 0.36% 2.08% 1.67% 1.58% 0.47% 0.00% 1.55%
3 yrs to less than 4 yrs 1.90% 1.93% 0.47% 2.22% 2.03% 1.73% 0.52% 0.00% 1.86%
4 yrs to less than 5 yrs 1.89% 2.05% 0.55% 2.40% 2.30% 1.82% 0.42% 0.00% 1.89%
5 yrs only 1.86% 2.12% 0.61% 2.36% 2.42% 1.83% 0.45% 0.00% 1.97%

It is worth noting that Foreign Currency Non-resident deposit rates might be changed on the 1st of every month according to the guidelines from RBI. 

In the case of premature closure, there will be no payment of interest on FCNR deposits. Prior consultation is required on FCNR deposit above USD 1 million with the branch or NRI department- email nri@idbi.co.in

Investment Plans for NRIsInvestment Plans for NRIs

About IDBI Bank Fixed Deposit Interest Rate Calculator

IDBI Bank Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate Fixed Deposit rates on the FD Calculator:

  • The amount that is invested

  • The Rate of Interest offered

  • The tenure of the Fixed Deposit Account

  • The compounding period, that is, yearly, half-yearly, quarterly, or monthly

  • The FD Amount

Once entered the following details, an investor will come to know:

  • The maturity value of the FD

  • The total interest earned during the complete tenure

Types of IDBI Bank NRI Fixed Deposit Account

The types of FD accounts in which NRIs and PIOs can invest are:

      1. Non-Resident External (NRE) Fixed Deposit Account

        This account can be opened with a very minimal amount of Rs.10,000. After that, one can have their money growing. Interest will be paid on a monthly, quarterly basis or cumulative interest on maturity. It will not be paid on FD deposits if it is closed in less than a year.

        Key Features:

        • Higher interest rates

        • FD period- 1 to 10 years

        • Loan against deposits

        • Automatic renewal of FD on maturity

        • 1% penalty will be imposed on interest if closed before the policy period. 

        Investment Plans for NRIsInvestment Plans for NRIs
      2. Non-Resident Ordinary (NRO) Fixed Deposit Account

        NRO fixed deposit is a value for money on your investments and can be automatically renewed on maturity. The interest income is taxable under the provision of the Income Tax Act India.

        Key Features:

        • Higher interest rates

        • FD period- 15 days to 10 years

        • Interest payable on a monthly, quarterly basis or cumulative interest on maturity

        • Loan against deposits

        • 1% penalty will be imposed on interest if closed before the policy period

        SIP Investment for NRIsSIP Investment for NRIs
      3. Foreign Currency Non-Resident (FCNR) Scheme

        IDBI FCNR term deposit secures your funds against any currency fluctuation. Deposits are allowed in USD, GBP, EUR, AUD, CAD, JPY, SGD, HKD, CHF currencies. 

        Interest will be paid at half-yearly intervals or cumulative interest on maturity, and deposits can be automatically renewed on maturity.

        Key Features:

        • Higher interest rates

        • FD period- 1year to 5 years

        • No interest will be paid if closed in less than one year

        • No penalty on premature closure.

        • Loan against deposits

Investment Plans for NRIsInvestment Plans for NRIs

In Conclusion

NRE and NRO Fixed Deposit accounts are the best options for NRIs to avail better returns, flexibility to repatriate funds, and tax-free (NRE) interest. IDBI NRI fixed deposit interest rates are a high-yielding option. 

With NRI FD accounts, NRIs can transfer the balance back to a foreign country or invest money in an NRE fixed deposit account without any restrictions.

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