IDBI Bank FD Calculator
Fixed Deposit Rates of Domestic Deposits of less than Rs. 2 crore - General Citizens
| Tenure | Regular Citizens |
| 0 – 6 days | NA |
| 07 – 14 days | 2.7 |
| 15 – 30 days | 2.7 |
| 31 – 45 days | 3.35 |
| 46 – 60 days | 3.75 |
| 61 – 90 days | 4 |
| 91 days – 6 months | 4.3 |
| 6 months 1 day – 270 days | 4.75 |
| 271 days – less than 1 year | 4.8 |
| 1 year | 5.6 |
| Above 1 year – less than 18 months | 5.6 |
| 18 months – less than 30 months | 5.65 |
| 30 months – less than 3 years | 5.7 |
| 3 years – less than 5 years | 5.75 |
| 5 years | 5.8 |
| Above 5 years – 7 years | 5.8 |
| Above 7 years – 10 years | 5.8 |
| Above 10 years – 20 years | 4.8 |
Note: The FD interest rates are effective as of 22 August 2022
Fixed Deposit Rates of Domestic Deposits of less than Rs. 2 crore - Senior Citizens
| Tenure | Senior Citizens |
| 0 – 6 days | NA |
| 07 – 14 days | 3.2 |
| 15 – 30 days | 3.2 |
| 31 – 45 days | 3.85 |
| 46 – 60 days | 4.25 |
| 61 – 90 days | 4.5 |
| 91 days – 6 months | 4.8 |
| 6 months 1 day – 270 days | 5.25 |
| 271 days – less than 1 year | 5.3 |
| 1 year | 6.1 |
| Above 1 year – less than 18 months | 6.35* |
| 18 months – less than 30 months | 6.40* |
| 30 months – less than 3 years | 6.45* |
| 3 years – less than 5 years | 6.50* |
| 5 years | 6.55* |
| Above 5 years – 7 years | 6.55* |
| Above 7 years – 10 years | 6.55* |
| Above 10 years – 20 years | 5.3 |
Note: The FD interest rates are effective as of 22 August 2022
IDBI Tax Saver Deposit - General Public
| Tenure | Regular Citizens |
| 5 years (Suvidha Tax Saving Fixed Deposits) | 5.80% |
IDBI Tax Saver Deposit - Senior Citizens
| Tenure | Senior Citizens |
| 5 years (Suvidha Tax Saving Fixed Deposits) | 6.55% |
Amrit Mahotsav FD Interest Rates of Domestic, NRE & NRO deposits - General Public
| Tenure | Regular Citizens |
| 500 days | 6.1 |
Note: The FD interest rates are effective as of 22 August 2022
Amrit Mahotsav FD Interest Rates of Domestic, NRE & NRO deposits - Senior Citizens
| Tenure | Senior Citizens |
| 500 days | 6.6 |
Note: The FD interest rates are effective as of 22 August 2022
NRE Fixed Deposit Interest Rates of deposits less than Rs 2 crores
| Tenure | Regular Citizens (% p.a.) |
| 1 year – less than 18 months | 6.1 |
| 18 months – less than 30 months | 6.15 |
| 30 months – less than 3 years | 6.2 |
| 3 years – less than 5 years | 5.75 |
| 5 years | 5.8 |
| Above 5 years – 7 years | 5.8 |
| Above 7 years – 10 years | 5.8 |
Note: The FD interest rates are effective as of 22 August 2022
IDBI Bank NRO FD Rates
| Tenure | Interest Rate for General Public (p.a.) |
| 7 days to 14 days | 2.70% p.a. |
| 15 days to 30 days | 2.70% p.a. |
| 31 days to 45 days | 3.00% p.a. |
| 46 days to 60 days | 3.25% p.a. |
| 61 days to 90 days | 3.40% p.a. |
| 91 days to 6 months | 4.00% p.a. |
| 6 months 1 day to 270 days | 4.50% p.a. |
| 271 days to up to less than 1 year | 4.50% p.a. |
| 1 year | 5.35% p.a. |
| More than 1 year to less than 18 months | 5.35% p.a. |
| 18 months to 2 years | 5.40% p.a. |
| More than 2 years to less than 30 months | 5.40% p.a. |
| 30 months to less than 3 years | 5.50% p.a. |
| 3 years to less than 5 years | 5.60% p.a. |
| 5 years | 5.75% p.a. |
| Above 5 years to 7 years | 5.75% p.a. |
| Above 7 years up to 10 years | 5.75% p.a. |
Note: The FD interest rates are effective as of 14 July 2022
Interest Rates on FCNR (B) deposits
| Tenure | USD | GBP | EUR | AUD | CAD | JPY | SGD | HKD | CHF |
| 1 year – less than 2 years | 3.53 | 2.78 | 0.04 | 3.35 | 3.46 | 0 | 3 | 2.85 | 0 |
| 500 days | 3.63 | – | – | – | – | – | – | – | – |
| 2 years – less than 3 years | 3.03 | 2.47 | 0.69 | 2.85 | 2.98 | 0 | 2.56 | 2.35 | 0 |
| 3 years – less than 4 years | 2.98 | 2.47 | 0.92 | 2.8 | 3 | 0 | 2.54 | 2.3 | 0 |
| 4 years – less than 5 years | 2.93 | 2.43 | 1.08 | 2.75 | 2.99 | 0 | 2.48 | 2.25 | 0 |
| 5 years only | 2.88 | 2.37 | 1.18 | 2.7 | 2.97 | 0 | 2.4 | 2.2 | 0 |
Note: The FD interest rates are effective as of 19 August 2022
Interest Rates on RFC deposits
| Tenure | USD | GBP | EUR | JPY |
| 91 days – 6 months | 1.93 | 0 | 0 | 0 |
| 6 months 1 day – less than 1 year | 2.08 | 0.38 | 0 | 0 |
| 1 year – less than 2 years | 2.78 | 2.78 | 0.04 | 0 |
| 2 years – less than 3 years | 3.03 | 2.47 | 0.69 | 0 |
| 3 years | 2.98 | 2.47 | 0.92 | 0 |
Note: The FD interest rates are effective as of 19 August 2022
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IDBI Bank FD Calculator
Fixed deposit schemes are an excellent way to earn attractive interest on your invested funds. With IDBI fixed deposit, you can enjoy high returns. You can also get tax benefits as per Section 80C of the Income Tax Act, 1961. Moreover, you can borrow up to 90% from your FD during urgent financial requirements.
You can start investing in IDBI Bank FDs with a minimum of ₹10,000 for the longest tenure of 20 years. Besides, it offers additional features like ‘Sweep in Savings’ and more. You can choose a suitable fixed deposit scheme from IDBI Bank and invest your money to earn better returns. To get an idea of your FD returns you can now use an online tool. Here’s more on it.
IDBI Fixed Deposit (FD) Calculator
IDBI fixed deposit offers a minimum of 3.00% interest rate for a tenure between 7 days to 1 month. This rate is for regular depositors investing less than ₹2 crore. However, if you choose a longer term, you can avail a higher interest rate. It also offers an additional interest of 0.50% for senior citizens.
If you are planning to invest in a fixed deposit, you can calculate the interest amount beforehand. It will help you choose a suitable FD scheme as per your financial goals. However, calculating your FD interest manually is susceptible to risks of miscalculation. So, you can use online FD calculator for a seamless and error-free calculation process.
How Does the IDBI FD Calculator Work?
IDBI FD calculator is designed to help you with hassle-free calculations. Take a look at the following steps to know its working method:
1. First, you need to enter the deposit amount in “Total Investment” box
2. Next, enter the investment tenure on “Number of years” tab
3. Finally, fill the ‘Interest Rate’ space with the appropriate IDBI Bank fixed deposit rate of interest. Your result will be displayed on this same page with a payment breakup of the “Estimated Return” “Invested Amount”, “Total Value” etc.
Note: Other than manually entering the figures in each tab; you can drag the purple dot along the line under each field.
You can easily use the FD calculator to compute the estimated returns on your invested amount. Besides, you can alter the figures in each tab to choose a convenient term or amount for maximum returns.
Let’s take a look at the formulas used for FD interest calculation.
There are two different formulas for interest calculation depending on the investment term you choose. For instance, if you invest in a fixed deposit for a tenure of less than 1 year, the maturity amount will be calculated using simple interest formula. However, for tenure beyond that, you can use the compound interest formula.
Here is a representation of both formulas:
Simple interest: M = P+ (PXRXT/100)
Here, “M” stands for the total amount received on maturity
“P” is the principal amount you intend to invest in your FD account
“R” denotes the annual rate of interest
“T” represents the investment term in years
If you want to calculate the interest amount you earn from your fixed deposit, you need to subtract the principal amount from the maturity amount, i.e., M – P.
Compound interest: A = P (1 + r/n) ^ n*t
In the above formula, “A” is the maturity amount you receive after the completion of tenure.
“P” stands for the amount you have invested in your fixed deposit account
“r” denotes IDBI fixed deposit rates
“n” represents how many times interest is compounded. For instance, for monthly compounding, it is 12; for quarterly, 4; for half-yearly, 2 and annually, 1.
“t” indicates the tenure of investment
Benefits of An Online IDBI FD Calculator
IDBI FD calculators help users determine the exact maturity amount upon providing the necessary investment details. Here are some of the top benefits of this online tool:
- It helps to take proper financial decisions by predetermining the maturity amount. You can compare the estimated interest earned from multiple tenures at different interest rates and choose a suitable one.
- You can get accurate results as this tool does not involve any risks of miscalculation. It runs on an advanced mechanism that is designed for error-free calculation.
- It helps overcome your limitations in solving complex mathematical problems. You can effortlessly calculate FD interests with this tool in just a few seconds. So, it helps save your time as well.
- This tool is totally free and easily available online.
Upstox IDBI fixed deposit calculator features a user-friendly interface to make the calculation process seamless. You can use this calculator whenever required without logging in with your personal details. Besides, this is absolutely free of cost. So, planning your investment goal is now easy and convenient with this online tool.
Frequently Asked Questions
What is the highest interest rate on IDBI FD?
IDBI fixed deposit interest rate varies depending on the chosen scheme. As per recent updates, IDBI has launched the ‘Amrit Mahotsav’ FD scheme offering the highest interest rate of 7.10% for an investment term of 700 days for general citizens.
What is the minimum investment amount for FDs in IDBI Bank?
You can start investing in IDBI fixed deposits with a minimum investment amount of ₹10,000.
Do we have a premature withdrawal facility on IDBI Bank FD?
Yes, you can withdraw your fixed deposits before maturity by paying the applicable penalty.
What is the penalty for early withdrawal in IDBI FD?
IDBI Bank charges a penalty of 1% against early FD withdrawal.
Can a customer open a term deposit account online in IDBI?
To open a term deposit online in IDBI Bank, you need to visit the bank’s website and log in to the internet banking portal.
Can any new customers open FD online? If not, then how can they do it?
New customers need to open an account in the respective bank’s branch and avail internet banking option to open an FD online.
Can I deposit an additional amount into my already existing FD?
No, adding an additional amount into an already existing fixed deposit account is not allowed.
Does IDBI provide an auto-renewal facility for fixed deposits?
Yes, IDBI provides auto-renewal facilities for fixed deposits after the maturity period unless the account holder provides any other instructions.
Disclaimer:
This calculator is meant to be used for indicative purposes only. It is designed to assist you in determining the appropriate amount of prospective investments. This calculator alone is not sufficient and shouldn’t be used for the development or implementation of any investment strategy. Upstox does not take the responsibility/liability nor does it undertake the authenticity of the figures calculated therein. Upstox makes no warranty about the accuracy of the calculators/reckoners. The examples do not claim to represent the performance of any security or investments. In view of the individual nature of tax consequences, each investor is advised to consult his/her own professional tax advisor before making any investment decisions on the basis of the results provided through the use of this calculator.