IDBI Bank Recurring Deposit Schemes & Interest Rates

Get the Best Rates for an IDBI Bank Recurring Deposit

Investing in Recurring Deposit accounts is a smart way to maintain better financial health and an easy technique to finance your emergency spendings. The two main Recurring Deposit schemes offered by IDBI Bank are the regular Recurring Deposit Plan and the IDBI Bank Suvidha Suraksha Recurring Deposit scheme. After opening the regular recurring deposit scheme is opened, the monthly deposit can range from 100 rupees up to 1 crore and the tenure can range from anywhere between 1-10 years. The IDBI Bank Suvidha Suraksha RD scheme has built-in insurance. The term of the insurance cover is the same as the tenure of the deposit scheme; 1-5 years. After maturity, the savings are accumulated in the Suvidha Suraksha Recurring Deposit account. If the account holder dies during the tenure of recurring deposit, the total sum along with the amount that is accumulated in the form of insurance is given to the nominee.

Tenure	Normal (%)	Senior Citizen (%)
1 year	6.75	7.25
1yrs to 2yrs	6.50	7
>2 yrs to <3 yrs	6.25	6.75
3 yrs to < 5 yrs	6.25	6.75
5 years	6	6.5
> 5yrs - 7yrs	6	6.5
>7 yrs - 10 yrs	6	6.5

IDBI Bank - Short Term RD Interest Rates

IDBI offers RD schemes under the short term deposit plans ranging from 1-2 years. The interest rate applicable to these schemes is 6.5% and for 2-3 years, the rate of interest applicable is 6.25%

IDBI Bank - Medium and Long-Term RD Interest Rates

The medium-term RD scheme ranges from 3-5 years and the interest rate applicable on IDBI medium term recurring deposit scheme is 6.25%. IDBI long-term deposit scheme varies form 5-10 years and the interest rate offered on these deposit tenures is 6% per annum.

Senior Citizens RD interest Rates for IDBI Bank

An additional interest rate of 0.5% is offered to senior citizens. For RD tenures varying from 1-2 years, the interest rate offered is 7%. For 3-5 years, the rate of interest applicable is 6.75% and the interest rate applicable to long-term recurring deposits from 5 years to 10 years is 6.5%.

IDBI Bank - NRE Recurring Deposit Interest Rates

Non-Resident Indians can open a recurring deposit account with IDBI Bank at attractive interest rates, depending on the tenure which they have chosen.

NRO Recurring Deposits

The interest rate offered per annum is 7.15% for tenures ranging from 1-2 years. For an NRO RD account, for the tenure of from 5-10 years, the interest rate offered is 7%

NRE Recurring Deposits

The interest rate offered per annum is 7.15% for a tenure ranging from 1-2 years. For an NRE deposit account tenure of 3-5 years, the interest rate provided by IDBI Bank is 7.15%