IDBI Bank FD Rates Calculator
Plan your savings with precision using IDBI's latest interest structures
Total Interest Earned
₹0
Maturity Value
₹0
Understanding IDBI Bank Fixed Deposit Returns
IDBI Bank offers a variety of Fixed Deposit (FD) schemes designed to cater to different financial goals, from short-term liquidity to long-term wealth creation. Using the IDBI Bank FD Rates Calculator allows investors to estimate their maturity amount before committing funds, ensuring their financial planning is based on accurate data.
IDBI FD Interest Rates 2024 (General Citizens)
| Tenure Range | Interest Rate (% p.a.) |
|---|---|
| 7 to 30 Days | 3.00% – 3.50% |
| 91 to 180 Days | 4.50% – 5.00% |
| 1 Year to 2 Years | 6.80% – 7.00% |
| Utsav Callable (444 Days) | 7.25% |
| Above 5 Years | 6.25% – 6.50% |
How Maturity is Calculated
For IDBI Bank cumulative fixed deposits, interest is compounded quarterly. This means that every three months, the interest earned is added back to your principal amount, and you earn interest on that interest in the subsequent quarter.
The formula used is:
- A: Maturity Amount
- P: Principal Amount invested
- r: Annual interest rate (decimal)
- n: Number of times interest compounds per year (e.g., 4 for quarterly)
- t: Total tenure in years
Key Benefits of IDBI FD Schemes
- Flexible Tenure: Choose from 7 days up to 20 years.
- Senior Citizen Perks: Senior citizens usually receive an additional 0.50% interest over standard rates.
- Tax Saving Options: IDBI offers 5-year tax-saver FDs under Section 80C.
- Loan Facility: You can avail of a loan or overdraft against your IDBI FD (up to 90% of the value).
Calculation Example
If you invest ₹2,00,000 in an IDBI FD for 2 years at an interest rate of 7.00% p.a. with quarterly compounding:
- Principal: ₹2,00,000
- Total Interest: ₹29,768
- Maturity Value: ₹2,29,768
Note: TDS (Tax Deducted at Source) may apply if the interest earned exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year.