IDBI Bank Interest Rates on FD, Dec 2016

Last Updated 30th Nov 2016
Tenure General Rates Senior Citizen Rate
15 day to 30 day 4.25% 4.25%
31 day to 45 day 5.00% 5.00%
46 day to 60 day 5.75% 5.75%
61 day to 90 day 6.00% 6.00%
91 day to 6 month 6.75% 6.75%
6 month 1 day to 270 day 6.75% 6.75%
271 day to 364 day 7.00% 7.00%
1 year to 1 year 364 day 7.15% 7.65%
2 year to 2 year 364 day 7.15% 7.65%
3 year to 4 year 364 day 7.15% 7.65%
5 year to 7.15% 7.65%
5 year 1 day to 7 year 7.00% 7.50%
7 year 1 day to 10 year 7.00% 7.50%
10 year 1 day to 20 year 7.00% 7.50%

FD Interest Rates of IDBI Bank

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  • IDBI Bank offers FD interest rates upto 7.15% per annum.
  • Interest on deposits with IDBI Bank is typically compounded quarterly.
  • IDBI Bank accepts deposits starting at Rs. 10000 for various tenures.
  • For senior citizens (age more than 60 years), IDBI Bank offers higher interest rate over and above rates mentioned below.
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FD Maturity Amount

IDBI Bank Fixed Deposit – Premature Withdrawl

  • You may break you FD and withdraw your money subject to minimum moratorium requirements.
  • However, in case of premature withdrawal, IDBI Bank pays interest based upon average benchmark rate of the immediate preceding quarter with mark up of applicable preceding tenor.

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About IDBI Bank

The Industrial Development Bank of India Limited, popularly known as IDBI Bank is one of the leading public sector banks in India. IDBI Limited was founded on July 1, 1964 under an Act of Parliament. It was established as a wholly owned subsidiary of RBI (Reserve Bank of India). The ownership was however transferred to the Government of India on February 16, 1976. It worked as a development financial institution, whose main goal was to coordinate with other institutions associated with financing, developing and promoting the industry. In September 2003, IDBI acquired the entire shareholding of Tata Finance Limited in Tata Home Finance Ltd and renamed it as 'IDBI Home Finance Limited'. Next year, on July 29, 2004, IDBI Limited and IDBI Bank approved the merger of IDBI Bank with IDBI Ltd. IDBI Bank also acquired United Western Bank in 2006. IDBI Bank offers a wide array of products and services to its customers. For different customer groups and needs, there are different types of products and services including Personal Banking, Corporate Banking, SME Finance and Agri Business etc. IDBI Bank currently has 457 centers, 688 branches and 1020 ATMs across the nation. IDBI Bank received the 'Overall Best Bank' and 'Best Public Sector Bank' awards in the Dun & Bradstreet Banking Awards, 2011. In 2011, it received Banking Technology awards for best use of Business Intelligence and the best Risk Management from Indian Banks Association.

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News - Dec 2016
02nd Dec 16 ICICI Bank reduces its MCLR by 5 basis points
ICICI Bank has reduced its overnight and three months marginal cost of lending rate by 5 basis points to 8.70 and 8.80 percent respectively. ICICI Bank has also reduced its one year lending rate to 8.90 percent from 8.95 percent earlier. Revised rates are effective from 1st December, 2016.
02nd Dec 16 Kotak Mahindra Bank cuts MCLR up to 30 basis points
Kotak Mahindra Bank has reduced its six months and one year marginal cost of lending rate to 9.05 and 9.20 percent from 9.20 and 9.45 percent respectively. The bank has reduced its three year lending rate by 30 basis points to 9.25 percent from 9.55 percent earlier. Revised rates are effective from 1st December, 2016.
02nd Dec 16 Manappuram to launch Anytime Pawn Machines for instant gold loans
Manappuram Finance, leading gold loan company, has announced the launch of a new scheme to provide instant gold loans to customers. Under the scheme, company will install Anytime Pawn Machines nationwide. The machine will issue the new currency notes to customers in exchange of their gold and jewellery.
02nd Dec 16 Muthoot Finance to launch an instant gold loan scheme for customers
Muthoot Finance has announced the launch of an instant gold loan scheme for its customers. As a part of the scheme, Anytime Pawn Machines will be installed that will issue new currency notes to the customers in exchange of their gold jewellery. The machine will use laser technology to check the weight and purity of gold before issuing cash.
02nd Dec 16 Bajaj Finance to provide an attractive offer to personal loan buyers
Bajaj Finance, a lending arm of Bajaj Financial Services has announced an attractive offer to boost up the personal loan business. Under the offer, company will provide free airline vouchers of Rs. 12,000 to the customers availing personal loan. Personal loan buyers will also get an extra benefit of selecting the destination of their choice. The offer is valid from 28th November to 4th December, 2016.
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