Fixed Deposit or FD is a good interest rate investment option.IDBI Bank offers a Fixed Deposit Account with a high interest rate. Fixed Deposit can open for the duration of a minimum of 7 days and a maximum of ten years. Fixed Deposit gives you a high-interest rate on your deposit amount. The Deposit minimum amount is depending upon the bank. you can also visit the official website:

Benefits of IDBI Bank Fixed Deposit

  • You get a higher interest rate on your fixed Deposit while comparing with saving accounts.
  • Multiple fixed deposits can open.
  • IDBI Bank also gives a loan on your fixed Deposit so that, you don’t need to break your Deposit for your need.
  • You can get an Rs.1.5 lakh exemption under Section 80 C of the Income Tax Act, 1961.
  • If you are a senior citizen, then you will get a high-interest rate on your Fixed Deposit account.

Fixed Deposit Eligibility

  • Fixed Deposits can open the name of Individual, Joint, Society, Company, Partnership, etc.
  • The applicant must have a savings account in the bank.

Income Tax Facts on IDBI Bank Fixed Deposit Interest

If you are looking for income tax fact on Fixed Deposit interest, then you can check below:

  • If Fixed Deposit interest is less then Rs. 40, 000/-, then the IDBI Bank will deduct TDS on interest.
  • Interest earned on Fixed Deposit is taxable. It will treat as Income from Other Sources.
  • If you don’t want to pay any TDS on Fixed Deposit, then you have to submit Form 15G and Form 15H in IDBI Bank.

IDBI Bank Tax Benefit Fixed Deposit

  • Interest Rate is 6.5% for 5 years term deposits.
  • The amount can not withdraw before five years.
  • The deposit account can not transfer to another bank.

IDBI Bank Fixed Deposit Interest Rate

Maturity SlabInterest Rate (% p.a.)
Retail Term Deposits (< 2 Cr)

General customers

Sr. Citizen

0-6 Days

NA

NA

07-14 days

3.50

4.00

15-30 days

4.50

5.00

31-45 days

4.75

5.25

46- 60 days

5.50

6.00

61-90 days

5.50

6.00

91-6 months

5.50

6.00

6 months 1 day to 270 days

5.75

6.25

271 days upto< 1 year

5.90

6.40

1 year

6.30

6.80

> 1 year – 2 years

6.25

6.75

>2 years to < 3 years

6.25

6.75

3 years to < 1111 days

6.25

6.75

1111 days (Utsav Celebrations deposit)

6.40

6.90

>1111 days to < 5years

6.25

6.75

5 years

6.25

6.75

> 5 years – 7 years

6.25

6.75

>7 years – 10 years

6.25

6.75

>10 years – 20 years*

6.00

6.50

                                    Tax Saving FD
5 years

6.25

6.75

Resident Term Deposit

Maturity Slab

General Interest Rate
(% p.a.)

Sr. Citizen Interest Rate
(p.a. %)

1 year

6.40

6.90

>1 year to 2 years

6.35

6.85

>2 years to < 3 years

6.35

6.85

3 years<  1111 days

6.40

6.90

1111 Days (“Utsav Celebrations Deposit”)

6.40

6.90

>1111 days< 5years

6.40

6.90

5 years

6.45

6.95

> 5 years – 7years

6.50

7.00

 

 

Floating Rate Term Deposit

ANCHOR RATE DETAILS (Applicable to FRTD opened wef November 1,2018)
Average of Weighted Avg. Yield of 91 days Treasury Bill Auction undertaken by RBI for QuarterAnchor Rate (%)Anchor Rate for Quarter
Between  Jul 1 – Sep 30, 2018

6.77

Between  Nov 1 – Dec 31, 2018
Between  Oct1 – Dec 31, 2018

6.83

Between  Jan 1 – March 31, 2019
Between  Jan 1 – March 31, 2019

6.47

Between  Apr 1 – June 30, 2019
Between  Apr 1 – June 30, 2019

6.24

Between  July1 – September 30, 2019
Between  July1 – September 30, 2019

5.55

Between October1 – December 31, 2019
Between October1 – December 31, 2019

5.05

Between Jnauary 1-March 31,2020

ANCHOR RATE DETAILS (Applicable to FRTD opened prior to November 1,2018)

Average of Weighted Avg. Yield of 364 days Treasury Bill Auction undertaken by RBI for QuarterAnchor Rate (%)Anchor Rate for Quarter
Between January 1 – March 31, 2017

6.23

Between  Apr 1 – Jun 30, 2017
Between April 1 – Jun 30, 2017

6.40

Between  Jul 1 – Sep 30, 2017
Between  Jul 1 – Sep 30, 2017

6.26

Between  Oct 1 – Dec 31, 2017
Between  Oct 1 – Dec 31, 2017

6.27

Between  Jan 1 – Mar 31, 2018
Between  Jan 1 – Mar 31, 2018

6.57

Between  Apr 1 – Jun 30, 2018
Between  Apr 1 – Jun 30, 2018

6.80

Between  Jul 1 – Sep 30, 2018
Between  Jul 1 – Sep 30, 2018

7.38

Between  Oct 1 – Dec 31, 2018
Between  Oct 1 – Dec 31, 2018

7.31

Between  Jan 1 – March 31, 2019
Between  Jan 1 – March 31, 2019

6.64

Between  Apr 1 – June 30, 2019
Between  Apr 1 – June 30, 2019

6.34

Between  July 1 – September 30, 2019
Between  July 1 – September 30, 2019

       5.82

Between  October 1 -December 31, 2019
Between  October 1 -December 31, 2019

5.27

Between January 1-March 31,2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Bank Services:

Corporation Bank Fixed Deposit Interest Rate