IDBI Bank Fixed Deposit Plans

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Idbi Bank FD Rates

The IDBI bank was established by the Government of India. It was started to provide financial needs for the development of the Indian Industry. It is one among the leading enterprises owned by the government and has its branches spread across the country.

IDBI Fixed Deposit- Features

  • A customer can earn maximum return on his savings through an IDBI Fixed Deposit Scheme
  • A fixed deposit in IDBI offers higher returns when compared to a regular savings account
  • The minimum amount requires to open a fixed deposit account is little
  • There are different deposit options to choose from
  • The IDBI FD interest rates are attractive

FD Interest Rates in IDBI Bank

The IDBI interest rates on fixed deposits are competitive as per the markets today. The tenure of the deposits is flexible thereby helping the customers maximize their returns. The attractive IDBI FD rates also help the depositors maintain liquidity as per their convenience and needs.

The fixed deposit rates in IDBI are constant for a chosen period of deposit. The interest rates are altered by the bank periodically. This might affect an existing customer making fresh deposits.

The current interest rate on FD in IDBI can be checked in any of their branches.

The Various Fixed Deposit Schemes

There are different fixed deposit plans at IDBI bank, each with a different interest rate and tenure. The bank does not charge any penalty for premature withdrawals.

IDBI Bank Fixed Deposit Rates

It is advisable to reconfirm the FD Rates from the bank before making any decision on basis of data provided below.

For Domestic Deposits – less than Rs. 1cr (As on Jul 24, 2017)

Tax Saver FD (Max Deposit – 1 LPA)

Tax Implications

  • The amount invested in Fixed Deposit with a tenure of 5 years with IDBI Bank is eligible for tax deduction under IT section 80C, whereas the interest earned on the investment is taxable.
  • The applicable tax will be deducted at source, i.e. IDBI Bank, in case the annual interest earned crosses Rs. 10,000.

For NRO Fixed Deposit – less than Rs. 1cr (As on Jul 24, 2017)

For NRE Fixed Deposit – less than Rs. 1cr (As on Jul 24, 2017)

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