Terms and Conditions



    Digital Confirmation of Deposit (COD)
  • A digitally signed COD in PDF format will be sent to your registered email ID with the Bank.
  • Ensure your email ID is updated in the Bank's records. To update or modify your email ID, please visit your nearest IDBI Bank Branch.
  • Ensure your email inbox has sufficient space to receive the Digital COD. In case of failed delivery, a duplicate physical COD will be issued by your home branch upon request.
  • Duplicate COD Charge: A charge of Rs 150 plus GST shall be levied for the issuance of a duplicate COD receipt.

    • Online Fixed Deposit (FD) Terms:
  • FDs can only be booked in single name and are subject to sufficient availability of funds.
  • For regular deposits, the minimum amount allowed for opening an FD online is Rs. 10,000/- and the maximum amount is less than Rs. 2.99 Crore. The minimum tenure allowed is 15 days and the maximum tenure is 120 months.
  • Tenure for online NRO Term Deposit is 15 days to 10 years and Tenure for NRE Term Deposit is 1 year to 10 years.
  • FD account will be created on same date. For NRO & NRE FD, the FD account will be created within 2 working days.
  • PAN number is mandatory for FD requests. Please contact your nearest IDBI Bank Branch for updating PAN details.
  • Interest rates applied to your FD will be as per the prevailing rates of interest. Discounted rate will be applied in case of monthly interest payouts. Annual Interest payout is calculated on compounding interest basis.
  • FDs for Senior Citizens will be with preferential rate of interest as applicable.
  • Premature withdrawals are permitted and penalties (if applicable) will be applied as per extant policies of the Bank.
  • TDS is deductible as per extant rules. Individuals seeking exemption from TDS, have to submit a completed form 15G/H at the bank branch within the first week of the new Financial Year.
  • To register /change a nominee for your Fixed Deposit, please visit the nearest IDBI Bank branch and submit duly filled and signed nomination form.
  • Overdraft Facility: An overdraft facility is available at attractive rates against your FD. To avail, please contact your IDBI home branch

    • Special Conditions:
  • Tax Saving Fixed Deposit:(a) Tax Saving Fixed Deposit request will not be accepted if PAN number is not updated with the Bank. Please contact your nearest IDBI Bank Branch for updating of PAN details. (b) For Tax Saving Fixed Deposit, minimum amount for opening an FD online is Rs.100/- and maximum is Rs.1,50,000/- and amount has to be in multiple of Rs.100/-. A maximum of up to Rs.1.5 lac can be invested in a financial year per assesse in all the Banks together. (c) Tax Savings deposit cannot be encashed before the expiry of 5 years. (d) Overdraft/ collateral security not permitted as per CBDT guidelines.
  • Floating Rate Term Deposit (FRTD):(i) Minimum amount for opening an FD online is Rs 10,000/- and maximum amount is less than Rs 3 Crores and amount has to be in multiple of Rs 1000/-. (ii) Premature withdrawal not permitted before 1 year.
  • Sweep-in Facility OR Flexi Fixed Deposit):(a) Sweep-in is a facility whereby you create a FD and link it to your Operative Saving/Current Account. (b) A Flexi-FD/sweep-in facility enables automatic debit when the balance in the operative account is inadequate. (c) Under the Sweep-in, the linked fixed Deposit is broken/swept on Last-In-First-Out (LIFO) basis. (d) The interest rate applicable to the Broken/Swept Deposits will be the contracted rate or the rate applicable for which the deposit remained with the Bank (rate applicable for the tenure on the original date of deposit) whichever is lower on the date of deposit. (e) In case of Sweep in due to partial or premature withdrawal, the porting of swept in deposit will be subject to premature withdrawal penalty if any applicable as per the banks guidelines. (f) This facility is available to account holders' where the operating instruction/holding pattern is 'single' i.e. there are no joint holders. (g) Sweep-in facility is not available on Fixed Deposits of value greater than 299 lacs. (h) No interest is paid if the deposit is held for the tenure of below 7 days, the minimum period for Term Deposits as per RBI guidelines. (i) To discontinue with the sweep-in facility on a particular Fixed Deposit, please visit your nearest IDBI Branch.

    • General Terms:
  • Online FD Closure: FDs opened through branch or online channels can be closed via iNet Banking, subject to eligibility for online closure. Certain FD types, such as joint operation mode, Tax Saving FDs, FRTD, RD, FFD, and Non-callable/ Notice Bulk FD, are not permitted for online closure.
  • In the event of online closure of FD, the proceeds will be credited to customer's operative account in same customer id as the primary account holder only.
  • Auto-renewal: Upon selection of maturity instruction as auto-renewal, the bank will renew the deposit at prevailing rates of interest for a similar tenor of the deposit which has matured. To change the renewal instructions, customer may visit Bank branch.
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