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IDBI is short for Industrial Development Bank of India, a major Indian bank. It offers a wide range of services, which include IDBI Bank FD schemes. As an investor, the IDBI Bank fixed deposit is a smart option to consider because it is loaded with features. 


For one, the IDBI Bank fixed deposit interest rates are some of the most competitive and can inject stability to your portfolio. There are two IDBI Bank fixed deposit schemes, namely the IDBI Bank Freedom Deposit and the Suvidha Tax Saving Deposit. 


With the IDBI Bank Freedom Deposit you can earn good returns as it offers higher interest rates. The Suvidha Tax Saving Deposit offers features like joint FD account, tax saving option along with nomination facility.


Read on to know more about the various IDBI Bank FD types, their features, and to know all about the IDBI Bank fixed deposit rates.


IDBI Bank FD Interest Rates for Senior Citizens & Non-Senior Citizens

Your earnings with an IDBI Bank FD will depend on the type you choose. In any case, the IDBI Bank FD interest rates are periodically updated and made public. While current deposits continue to earn interest at the agreed-upon rate, revised IDBI Bank FD rates are only relevant to new and renewal accounts.


The IDBI Bank FD rates for Resident and NRO term deposits under ₹2 Crores are listed below:

Tenor Options

Non-Senior Citizen FD Rates p.a.

Senior Citizen FD Rates p.a.

7 days - 14 days



15 days - 30 days



31 days - 45 days



46 days - 60 days



61 days - 90 days



91 days - 6 months



6 months 1 day to 270 days



271 days to up to less than 1 year



1 year



Above 1 year to less than 2 years



2 years to 3 years



3 years up to 5 years



5 years



Above 5 years to 7 years



Above 7 years up to 10 years



Above 10 years up to 20 years



IDBI Bank FD Calculator

Aside from these benefits, another notable feature is the IDBI Bank fixed deposit calculator. This is a digital tool you can use to calculate your FD earnings before investing. The IDBI FD calculator is free, and you can use it whenever you need it.  All you have to do is enter the desired FD amount and other parameters such as the tenor and expected return. The IDBI Bank FD calculator will calculate your returns instantly.

Deposit Amount
Interest Rate
Interest Payout
Your Total Maturity Amount is
Your Total Maturity Amount is
Total Investment
Total Interest Earned

For IDBI Bank Tax Saving Fixed Deposits


Regular Investors’ Rate p.a.

Senior Investors’ Rate p.a.

5 years



Benefits and Features of the IDBI Bank Fixed Deposit

  • The IDBI Bank FD rates for senior citizens is higher, making it a lucrative option

  • Investors get access to simple and quick liquidity solutions with IDBI

  • Individuals can invest in an FD with a tenor ranging from 7 days to 20 years

  • Investors can opt for flexible interest payout options

  • Investors can opt for the auto-renewal facility

  • Investors get a loan of up to 90% of your deposit value

Types of IDBI Bank Fixed Deposit Schemes

1. Suvidha Tax Saving Fixed Deposit

This scheme, as the name implies, is intended to assist resident citizens and HUFs in saving tax while earning good returns on fixed deposits. There is a nomination option available and the interest is compounded quarterly. Here, the interest earnings on the fixed deposit are taxable, and you can opt for auto-renewal.

You can benefit from higher IDBI Bank fixed deposit interest rates thanks to this initiative. You can also avail a loan of up to 90% against the deposit. Best of all, the IDBI Bank FD rates for senior citizens is higher, and you can get an additional 0.50% on the base rate. 


This variant also allows you to avail the auto-renewal facility. To be eligible, you must be: 

  • A citizen permanently residing in India

  • HUFs

  • Private or public businesses

  • Trusts

  • Partnership firms 

3. IDBI Naman Fixed Deposit for Senior Citizen Investors

This is the IDBI Bank senior citizen scheme, and investors receive an enhanced interest rate of 0.25% over and above the current extra rate of 0.50% per year (total mark-up 0.75%).

  • Tenors that are eligible range from more than a year to 10 years

  • Validity of the Scheme: Extending until 31 March 2023.

  • These IDBI Bank senior citizen FD rates will be available on new deposits as well as those renewed throughout the plan term.


Do note that terms and features for this IDBI Bank senior citizen scheme are the same as for other FD instruments on offer. 

4. IDBI Amrit Mahotsav Fixed Deposit Scheme 

This specific fixed deposit has special tenor options of 555 and 700 Days respectively, and is effective from December 26, 2022. It is another option with special IDBI Bank FD rates for senior citizens. 

Special Tenor

General/NRE/NRO Investors

Senior Citizen Investors

555 Days

7.00% p.a.

7.50% p.a.

700 Days

7.10% p.a.

7.60% p.a.

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Eligibility Criteria for an IDBI Fixed Deposit

The following categories of individuals and organisations are eligible to invest in fixed deposit investments with IDBI Bank:

  • All citizens residing in India

  • Joint account holders and individual account holders.

  • Minors

  • NRIs holding NRE and NRO accounts

  • HUF, or Hindu Undivided Family

  • Senior citizens 

  • Business in Partnerships and sole proprietorships

  • Firms

Documentation Needed to Book an IDBI FD

To apply for an IDBI Bank FD, you must present valid identification and evidence of residence. Additionally, proof of age is required for minors and older citizens.


An overview of all required papers is provided below:

  • Form of application

  • Photo identification, such as a voter ID, PAN card, Aadhaar card, driving licence, and so on

  • Address proof papers, such as utility bills, driver's licence, Aadhaar cards, and others

  • Age verification is required (birth certificate, PAN card, matriculation certificate and more)

  • Passport-size recent photographs

  • PAN Card

How to apply for the IDBI Fixed Deposit Scheme

There are several ways to open an FD account with IDBI Bank, such as online banking, or through mobile apps. You can even visit your nearest branch of IDBI Bank for offline application.

1. IDBI Bank mobile application

  • Sign in to your IDBI Bank App once you've downloaded it

  • Next step is to select 'Opening a Fixed Deposit' from the menu

  • Click ‘Submit’ once you have checked the information

  • When the deposit is successfully booked, a confirmation notification will be delivered

2. Online Application Mode

  • Log in to your Net Banking account at IDBI Bank

  • Click the ‘Opening a Fixed Deposit’ option under the ‘Request’ tab

  • Fill in all deposit details and maturation instructions

  • Click ‘Submit’ once you have checked the information

  • Once the deposit is successfully booked, you will receive a confirmation


The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial investment advice or endorsement of any sort. 

The information including interest rates with regard to fixed deposit, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any investment or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products. 

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Frequently Asked Questions

Yes, you can open a joint FD account with IDBI Bank under the Suvidha Tax Saving Fixed Deposit Scheme.

The minimum amount required to open an FD account with the IDBI Bank is ₹10,000.

Yes. Senior citizens are entitled to 0.50% higher interest rates on most FD schemes with the IDBI Bank.

Yes, the IDBI Bank offers a premature withdrawal facility on its fixed deposits. However, you will have to pay a penalty for a premature withdrawal.

Yes, you can avail a loan against your FD with the IDBI Bank.

The FD tenor range for the IDBI Bank fixed deposits is anywhere between 7 days to 20 years.

Anyone who is an Indian national, a resident of India, a senior, a minor, an educational establishment, a HUF, or a company is qualified to establish an IDBI FD.

Yes, you can open an IDBI FD account online either through Net banking or the mobile app.

The highest IDBI Bank FD interest rate stands at 7.60% p.a under the IDBI Amrit Mohatsav Fixed Deposit Scheme.

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