IDBI Bank - FD Interest Rate

Check Latest IDBI Bank fixed deposite interest rate

Period < 1 Cr
Interest Rate Senior Citizen Rates
15 - 30 days 5.75 % 6.25 %
31 - 45 days 5.75 % 6.25 %
46 - 60 days 6.25 % 6.75 %
61 - 90 days 6.25 % 6.75 %
91 - 6 months 6.25 % 6.75 %
6 months 1 day to 270 days 6.50 % 7.00 %
271 days to less than 1 year 6.50 % 7.00 %
1 Year 7.00 % 7.50 %
Above 1 Year to 2 Years 7.05 % 7.55 %
Above 2 Years to less than 3 Years 7.05 % 7.55 %
3 Years to less than 5 Years 6.85 % 7.35 %
5 Years 6.85 % 7.35 %
Above 5 Years to 7 Years 6.25 % 6.75 %
Above 7 Years to 10 Years 6.25 % 6.75 %
Above 10 Years to 20 Years* 6.00 % 6.50 %

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IDBI Bank is considered as the next generation of nationalized banks and has led the path amongst the nationalized banks in India. The bank came into existence in the year 2004 when the existing set up of the Development Financial Institution which was set up along with the ICICI for the project financing was converted into the full fledged bank in India. The beginning of the bank took place in the new era and with the advent of the technology and fast adaptive changes in the banking industry, the bank picked up the growth and later on overtook many of the nationalized banks which took time to convert the existing business into the technological platform. The bank itself claims to have adopted the technological changes at two places which is customer relationship and in the business processes. The bank is considered to have the highest employee productivity amongst the nationalized ones and has been the leader since many years. The basic reason behind its adoption of the technology and regular innovation in that for the bank. 

The bank is presently headed by its MD & CEO Shri Kishor Kharat. The bank has at present 1800 plus branches across the India. The bank operates with the less number of branches in comparison to many nationalized banks but has the good business in the same comparison and the main reason behind the same is the cutting edge of the technology. The total workforce working in this bank stands at 17570 which mean almost 9 employees per branch. The bank has the total number of 3310 ATMs which offer the variety of the services to the customer base of the bank. The bank operates with the tagline of “Banking for All, “Aao Sochein Bada”” which means “Banking for All “Let’s Think Bigger””. 

Ever since the bank came into existence in its present form, the bank has progressed a lot and has become one of the fastest growing nationalized banks. The bank has at present the business of Rs 481613 Crores which means a business of 70.88 billion USD. This is a remarkable progress for the bank which has just started the operations as late as 2004. The total deposits in the bank stand at Rs 265720 Crores which means 39.11 billion USD of the business. The advances which form part of the loan book of the bank stand at Rs 215893 Crores which means the business of 31.77 billion USD. 

The bank has grown very fast and so is the NPA level in the bank. The percentage has sharply increased in the bank and has risen to 10.98% of the gross advances. However since the gross NPA also include the provisioning done by the banks in India as per the directions of the RBI, the net NPA in the bank have risen to 6.78% which is a matter of grave concern for the bank and its management. The complete banking industry especially the nationalized banks have faced this menace and the IDBI Bank is no exception in that. 

The main benefit of the IDBI Bank is that it has the employees who are committed to grow the business and simultaneously cut down the NPA levels for their bank. The bank has the CRAR of 11.67% which is the measure for the ability to absorb the shocks arising in the banking industry is above the RBI’s prescribed figure for 11.50% which needs to be achieved on or before 31 March 2019 as per the compliance under the BASEL-III norms for the banks. The bank thus has achieved the figures already and can withhold any shock arising in the banking industry. 

Being a leader in the technology amongst the nationalized banks the Bank has launched a multi-purpose self-service ATM (mini-branch) in July 2015, which is first of its kind in India, to facilitate issuance of personalized cheques and demand drafts on 24x7 basis, apart from providing regular ATM services. The bank has also launched the G-sec Investment Facility through ATM for retail investors, which is an unique and first of its kind service, that provides easy access to retail investors to invest in Government Securities. This facility will improve the market situation for the government securities especially bonds and bills and allow the retail investors to have choices amongst the government securities. Thus innovation is the main focus of the bank and the bank has continuously done the same. It is one of the state of art government run bank which has all the capability to grow even bigger in the future. 

If you want to experience something rich in a nationalized bank, visit IDBI Bank folks.