IDBI Bank Interest Rates on FD, Oct 2016

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Last Updated 19th Oct 16

TenureInterest Rate
30 Days4.75%
45 Days 5.50%
60 Days 6.25%
90 Days 6.50%
120 Days 7.00%
6 Months 7.00%
9 Months 7.25%
12 Months 7.30%
18 Months 7.30%
2 Years 7.25%
3 Years 7.25%
4 Years 7.25%
5 Years 7.25%
7 Years 7.25%
10 Years 7.25%

IDBI Bank FD Interest Rates

  • IDBI Bank offers FD interest rates upto 7.30% 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 0.50% higher interest rate over and above rates mentioned below.

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.

Loan against IDBI Bank FD

  • IDBI Bank offers loan upto 90% against its own deposit. Note that you cannot obtain a loan against FD from another bank.
  • Applicable rate of interest on loan against FD is typically 0.5% to 2% over the fixed deposit rate.

IDBI Bank Interest Rates in your city. How and where to apply?

  • Keep your KYC documents - PAN card, address proof and photo ready.
  • In case you already hold an account with IDBI Bank, you don’t need to submit KYC documents again.
  • To know more or apply, contact any of the branches of IDBI Bank in your city - Find IDBI Bank Branches here

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 - Oct 2016
26th Oct 16 HDFC Bank net profit in second quarter rises up by 20.4 percent, asset quality remains stable
HDFC Bank reported an increase in its net profit by 20.4 percent to 3,455.3 crores for July to September quarter as compared to Rs. 2,869.5 crore in the corresponding period a year ago. The increase in profitability is to due to the increase in net interest income, other income, and operating profit. Net interest income grew by 19.6 percent to Rs.7,993 crores in July to September quarter. The asset quality remained stable but net interest margin declined sequentially.
26th Oct 16 State Bank of Mysore posts loss in second quarter, bad loans surges three times
State Bank of Mysore reported a loss of Rs. 183.5 crore in the second quarter ended on September 30 as compared to net profit of Rs. 131 crore during the July to September quarter in FY16 due to rise in the bad loans. Total income of the bank in the second quarter also declined to Rs. 1,947.63 crore from Rs. 1,969.96 crore in corresponding period a year ago.
25th Oct 16 Axis Bank Q2 net profit down by 21.3 percent, bad loans rise
Axis Bank reported a downfall in its net profit by 21.3 percent to Rs. 1,555 crore for June to September quarter due to high rise in bad loans. The number of bad loans spiked to 88.7 percent. The net profit of the bank was Rs. 1,978 crore during the corresponding period in the last fiscal year.
22nd Oct 16 SBI asks customers to use its own ATMs after the cyber attack hits 3.2 million debit cards
SBI advised its customers to use its own ATM networks for safety of transactions. The Bank also promised to replace 6 lakh debit cards which were blocked by the bank as a preventive measure within ten days following a cyber security breach in the country banking system. The other major banks hit by the cyber fraud are Axis Bank, HDFC and ICICI Bank.
18th Oct 16 Axis Bank cuts it benchmark MCLR by 5 base point rates
Axis Bank has cut it benchmark MCLR base rate by 5 bps. The bank has reduced its rates across tenures effectively reducing the overnight rates to 8.80 per cent and three year rate to 9.35 percent. The bank announced the reduction after its peers such as ICICI, Kotak Mahindra and Indian Bank cut their lending rates following the RBI monetary policy review on October 4th, 2016.