IDBI Bank Interest Rate For FD- The FD interest rates offered by IDBI Bank range from 3.0% to 7.25 percent annually. to the public and 3.50-8.00% per year. to seniors with terms ranging from seven days to twenty years. IDBI Bank Tax Saving FDs have an annual interest rate of 6.25 percent. for the public at large and 7.0% per year. for five-year deposits made by senior citizens. NRIs can also take advantage of the bank’s NRO, NRE, RFC, and FCNR fixed deposit products.
Fixed deposits in Singapore Dollar (SGD), Hong Kong Dollar (HKD), Swiss Franc (CHF), Australian Dollar (AUD), Canadian Dollar (CAD), Japanese Yen (JPY), and US Dollars (USD) are accepted by IDBI Bank. RFC fixed deposits in USD, GBP, EUR, and JPY are accepted by the bank. IDBI Bank offers an interest rate of 2024 for its FD product. This is a fixed income investment vehicle that aims to provide consistent returns over the long term. The interest rate offered by IDBI Bank is based on the sum of two factors: the bank’s assessment of the viability of the underlying asset and its assessment of the creditworthiness of the entity holding the assets.
IDBI Bank Interest Rate For FD 2024
You can use the IDBI Bank FD online calculator to figure out how much interest your money will earn if it is kept in a fixed deposit at IDBI Bank. This will provide information about the investment, including the principal amount at maturity after interest has been compounded daily, monthly, quarterly, semiannually, or annually. Good returns online calculators can help you figure out how your fixed deposit earns interest and how much you will earn at the end of the chosen tenure.
The first factor, known as the risk-adjusted return, takes into account a variety of factors, including debt levels, financial health, and management quality. It serves as an indicator of a bank’s confidence in the underlying assets and gives it an opportunity to earn a premium return. The second factor, known as default-risk assessment, measures how likely it is that an entity holding assets will be unable to meet its financial obligations. It is used to determine the cost of insuring against risk and can result in higher interest rates for more risky investments. Overall, IDBI Bank’s 2024 interest rate for its FD product is a fair assessment of these factors and provides an attractive opportunity for investors seeking a reliable source of income.
IDBI Bank 2024 Interest Rate For FD Details
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About IDBI FD
Depositing a significant amount of money into a bank account for a predetermined time period is known as a fixed deposit. When the FD comes to an end, depositors will receive attractive interest on the principal amount. Before making a commitment to a fixed deposit, individuals can use an online calculator to estimate their deposit returns. One of India’s leading financial institutions, IDBI Bank provides a wide range of services to its customers. The aforementioned fixed deposit plans are among them, and they are primarily appropriate for individuals looking for an efficient savings option.
Also Read-Kotak Mahindra Bank 2024 Interest Rate For FD
Types of IDBI Bank FD Schemes
IDBI bank FD schemes are different from regular bank FDs in several ways. First, IDBI bank FDs require a smaller deposit amount to open an account. This makes it easier for individuals with small savings to open an IDBI bank FD. Second, IDBI bank FDs have higher interest rates than regular bank FDs, making them more attractive for long-term savings goals. Third, IDBI bank FDs often offer higher rates of return than regular bank FDs but with fewer restrictions on the types of investments that can be held in the account. Finally, IDBI bank FDs may be better suited for individuals who want to invest their money in stocks and other risky assets instead of bonds and other safer investments.
Suvidha Fixed Deposit (Regular Fixed Deposit with Reinvestment of Interest Component)
- This plan permits reinvestment of the interest part to the store sum
- Least store sum: Rs 10,000
- Residency: 7 days – 20 years
- Extra 0.50% financing cost is proposed to senior residents
- Auto recharging office is accessible
- Month to month, Quarterly and Yearly compensation out choice is accessible
- Contributors can profit overdrafts of up to 90% against their decent stores
- This plan offers Clear In Reserve funds where a bank account can be connected with different FDs
Click Here- Yes Bank 2024 Interest Rate For FD
Suvidha Tax Saving Fixed Deposit
- Depositors can invest up to Rs. 1.5 lakh in a financial year for 5 years
- Bank offers door to door complete banking experience
- Tenure: 5 years
Floating Rate Fixed Deposit
- Store sum: Least Rs. 10,000 and in various of Rs. 1,000 from that point; Greatest Under Rs.1 crore
- The interest is reset at regular intervals, harmonizing with schedule quarters-April 1, July 1, October 1 and January 1 consistently
- Residency: 1 year – 20 years
- Contributors can profit of overdrafts of up to 90% against their drifting rate fixed stores
- Designation office is accessible
- Extra 0.50% loan cost is proposed to senior residents
- Secure in period: 1 year
- Auto-recharging office is accessible with residency over 1 year as it were
- Untimely withdrawal isn’t considered as long as 1 year
- Quarterly payout choice is accessible
NRE Fixed Deposits
- Least store sum: Rs 10,000
- Residency: 1 year – 10 years
- Contributors can settle on month to month/quarterly interest payout choice or aggregate interest choice
- No interest will be paid assuming the FD is shut rashly in under 1 year
- Advance against stores office is accessible
- Programmed restoration office is accessible of FD on development
Read Also- Kotak Mahindra Bank 2024 Interest Rate For FD
NRO Fixed Deposits
- Tenure:15 days – 10 years
- Depositors can opt for monthly/quarterly interest payout option or cumulative interest option
- Loan against deposits facility is available
- Automatic renewal facility of fixed deposit is available on maturity
Foreign Currency Non-Resident (FCNR) Scheme
- Contributors can hold stores in any of these 9 monetary forms: US Dollars (USD), English Pound Real (GBP), Euro, Australian Dollar (AUD), Canadian Dollar (computer aided design), Hong Kong dollar (HKD), Singapore Dollar (SGD), Swiss franc (CHF) and Japanese Yen (YEN)
- Least store sum: USD 1,000 or it’s comparable in different monetary forms
- Residency: 1 year – 5 years
- Head and premium procured are completely repatriable
- No punishment for untimely conclusion
- No interest will be paid in the event that stores shut before 1 year
- Advance against stores office is accessible
- Contributors can settle on a half-yearly interest payout choice or a combined interest choice
- Programmed recharging office is accessible
Premature Withdrawal of Fixed Deposits
- Premium will be paid subsequent to deducting the correctional rate (1%) from the pertinent rate. The relevant rate would be the contracted rate or the loan cost material for the time of store for which the proper store stayed with the bank, whichever is lower.
- This likewise incorporates fractional withdrawals and withdrawals through clear ins
- No untimely withdrawal is considered as long as 1 year in the event of drifting rate fixed stores
- On account of NRO and FCNR FDs, premium payable will be the contracted rate or the loan fee material for the residency for which the FD stayed with the bank, whichever is lower.
Read Also- PNB Bank 2024 Interest Rate For FD
IDBI Bank Fixed Deposit Interest Rates 2024
Fixed Deposit Rates of Domestic/NRO Deposits of less than Rs. 2 crores w.e.f. from 2024
| Tenure | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 0 – 6 days | NA | NA |
| 07 – 14 days | 3.00 | 3.50 |
| 15 – 30 days | 3.00 | 3.50 |
| 31 – 45 days | 3.35 | 3.85 |
| 46 – 60 days | 4.25 | 4.75 |
| 61 – 90 days | 4.25 | 4.75 |
| 91 days – 6 months | 4.75 | 5.25 |
| 6 months 1 day – 270 days | 5.50 | 6.00 |
| 271 days – less than 1 year | 5.50 | 6.00 |
| 1 year | 6.75 | 7.25 |
| Above 1 year – 2 years | 6.75 | 7.50* |
| Above 2 years – less than 3 years | 6.50 | 7.25* |
| 3 years – less than 5 years | 6.25 | 7.00* |
| 5 years | 6.25 | 7.00* |
| Above 5 years – 7 years | 6.25 | 7.00* |
| Above 7 years – 10 years | 6.25 | 7.00* |
| Above 10 years – 20 years | 4.80 | 5.30 |
Check Also-Bandhan Bank 2024 Interest Rate For FD
NRE Fixed Deposit Interest Rates of deposits less than Rs 2 crores w.e.f. 2024
| Tenure | Regular Citizens (% p.a.) |
| 1 year | 6.75 |
| Above 1 year – 2 years | 6.75 |
| Above 2 years – less than 3 years | 6.50 |
| 3 years – less than 5 years | 6.25 |
| 5 years | 6.25 |
| Above 5 years – 7 years | 6.25 |
| Above 7 years – 10 years | 6.25 |
Also Read- Union Bank 2024 Interest Rate For FD
IDBI Bank FD Calculator
Using tools like the FD Calculator, which make choosing which FD to invest one’s savings easier, is highly recommended for those looking to invest in an IDBI FD scheme. The IDBI Bank fixed deposit calculator can be used to figure out how much interest one will earn by investing money in the plan. Using the current FD rates, the deposit amount, and the duration for which the deposit is to be kept with the bank, the aforementioned tool calculates the maturity amount. Time is saved, and there is no room for error like there is with manual calculations.
Benefits of IDBI Bank FD Calculator
One ought to comprehend why such calculators are necessary for maximizing their FD returns after evaluating what they do. The IDBI fixed deposit calculator has a number of benefits, some of which are as follows: it tells you how much money you need to put in to get the returns you want.
- These calculators can be helpful in determining how FD interest rates affect profitability.
- By thoroughly comprehending each factor that influences FD returns, these calculators enable depositors to make a deliberate decision.
- The IDBI FD calculator can also be used to compare the various maturity and tenure terms. By doing this, it is guaranteed that a depositor will select the best fixed deposit option.
- Finally, these calculators promise speed and precision when calculating investment returns. On the other hand, doing manual calculations takes a long time and may produce incorrect results.
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