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IDBI Bank RD Interest Calculator

RD Calculator IDBI in India Sep 2020

Last Updated 22nd Sep 2020

Tenure General Rates Senior Citizen Rates
1 year 5.85% 6.35%
1 year 1 day to 2 years 5.75% 6.25%
3 years 1 day to 5 years 5.75% 6.25%
5 years 1 day to 10 years 5.80% 6.30%
5 years 5.90% 6.40%
2 years 1 day to 3 years 5.80% 6.30%

Calculate RD Maturity Amount of All Banks in India

IDBI Bank RD Calculator
Investment Offers with High Returns offerOffers
Bank/NBFCs Rate Tenure Action
Bajaj Finance FD7.35%60 MonthsAPPLY
PNB Housing Finance FD7.20%120 MonthsAPPLY
DBS Bank Savings Account5.00%N.A.APPLY

IDBI Recurring Deposit Calculator

IDBI Bank, a leading Public Sector Bank in India offers attractive interest rates upto 5.90% on its Recurring deposits.
RD maturity amount that you will get depends upon

  • Deposit amount
  • Rate of interest
  • RD tenure
  • Compounding frequency
  • TDS applicability and TDS rate

IDBI Recurring Deposit Interest Calculator

  • In a periodic interest payout option, IDBI Bank would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain same across the life of the deposit. On maturity of RD, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • In case you opt for a IDBI Bank cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
  • Calculate the RD maturity amount using the RD calculator.

Tax on Recurring Deposit IDBI Bank

  • In case the interest earned by you across all your recurring deposits across all branches of IDBI Bank in a year exceeds 10,000, the bank must deduct TDS at 10.3%. In case your IT PAN is not updated in the IDBI Bank records, it must deduct twice the TDS at 20.6%. So, do remember to update your PAN on your RD.
  • We aren’t done yet. This was only the TDS. Now, you would need to add the interest income on all your IDBI Bank RD’s and other RD’s to your taxable income for the year. Based upon your tax bracket, income tax is payable on this income. You must estimate the interest income and all your other incomes and, based on this, pay advance tax on advance tax payment dates (15th Sep, 15th Dec, 15th March and 31st March).
  • IDBI Bank will also issue you a Form 16A giving details of tax deducted on RD interest and tax deposited by it with government treasury. The TDS amount deposited by the bank with Income Tax Department can be verified in your 26AS statement available online on IT department website or through your net banking account. You can claim credit for the TDS amount in your annual Income Tax Return.

IDBI RD interest rate calculator – Check your city

  • Keep your KYC documents - PAN card, address proof and photo ready.
  • To know more or apply, contact any of the branches of IDBI Bank in your city

FAQs

What is the highest interest earned on IDBI Bank recurring deposit?

You can earn a maximum interest of 5.90% on IDBI Bank recurring deposit.

Are there any extra benefits for senior citizens on fixed deposit of IDBI Bank?

Yes, senior citizens get extra benefit of 0.5% interest rates on their RD in IDBI Bank.


IDBI News - Sep 2020
  • 2020-07-28 : IDBI Bank reported Q1 net profit of ₹144 crore
    IDBI Bank reported Rs 144 crore net profit for June quarter on account of a reversal of Rs 1335 crore of bad loan provisioning. It is IDBI second successive net profit after 13 consecutive quarters of loss. CASA increased to ₹ 1,04,315 crore and cost of deposit which includes fixed and recurring deposits improved by 64 bps to 4.65%. In addition to this, NII bolstered by home, personal, gold, car and two-wheeler loan along with business and mudra loans stood at ₹ 1,773 crores.
  • 2020-02-12 : IDBI Bank reported a Q3 profit before tax of Rs. 756 crores
    Private sector lender IDBI Bank posted a Q3 profit before tax of Rs. 756 crores. It was driven by an increase in Net Interest Income and a slump in provisions by loans. Further, the Bank Fixed and recurring deposits grew to Rs. 2,18,180 crores and the share of saving and current accounts rose to 47.65%.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More