Latest IDBI RD Interest Rates: Everything You Need to Know

You don’t always need a big sum to start saving. With a recurring deposit (RD), you can set aside a fixed amount each month. Over time, it grows with guaranteed interest.

IDBI Bank, one of India’s leading public sector banks makes this simple. Their RDs come with flexible tenures, assured returns and benefits for different savers. IDBI also offers two RD options: Systematic Savings Plan (SSP) and Systematic Savings Plan Plus (SSP Plus). This gives you the choice of simple monthly savings or savings with extra features like insurance.

Keep reading to explore the latest IDBI Bank RD rates, the different RD schemes and how you can get started.

About IDBI Bank RD scheme

IDBI Bank offers a wide range of savings products across branches and digital platforms. RDs are among the most popular.

With an IDBI RD, you can:

• Start with monthly deposits as small as  ₹500 
• Pick a tenure between 1 year and 10 years
• Earn fixed interest through the entire term
• Get higher IDBI recurring deposit interest rates up to 0.50% for senior citizens
• Take a loan against your RD balance if needed

The IDBI Bank RD rates are the same as fixed deposit (FD) rates for the same tenure. Now IDBI publishes SSP/SSP+ RD rates separately, making it easier to follow.

IDBI Recurring Deposit Interest Rates 2025

Here are the current IDBI recurring deposit interest rates 2025 (deposits below ₹2 crore, w.e.f. 18 July 2025):

Tenure	General public (p.a.)	Senior citizens (p.a.)
1 year to less than 2 years	6.55%	7.05%
More than 2 years to less than 3 years	6.55%	7.05%
3 years to less than 5 years	6.25%	6.75%
More than 5 years to 10 years	5.95%	6.45%

These rates apply to SSP and SSP Plus and are effective from 18 July 2025. The peak rate is on the 1-3 year slab.

Example of IDBI RD Scheme Earnings

Suppose you deposit ₹5,000 every month in an IDBI RD for 3 years at 6.55%. At maturity, you will get about ₹1.99 lakhs, including interest. This shows how steady contributions can grow into a solid amount over time.

Types of IDBI RD Schemes

IDBI Bank offers two recurring deposit plans. Each is built for different needs.

Systematic Savings Plan (SSP)

• Start from just ₹500 per month
• Deposit up to ₹2 crores
• Tenure ranges from 1 year to 10 years
• Nomination facility available
• Premature closure allowed as per bank rules
• A good choice for goals like education or travel

Systematic Savings Plan Plus (SSP Plus)

• Begin with ₹5,000, then add in multiples of ₹100
• Tenure ranges from 3 years to 10 years
• Comes with complimentary personal accident insurance cover up to ₹5 lakhs
• Option to take a loan against your RD balance
• No TDS if you submit Form 15G or 15H and are eligible
• Premature closure allowed as per bank rules

SSP is ideal if you want to start small. SSP Plus suits savers who want extra safety and insurance along with their deposits.

Benefits of Opening an IDBI RD

Here’s why IDBI RDs are popular:

• Low entry point makes it easy to begin
• Wide range of tenures to match your goals
• Rates stay fixed once booked
• Loan facility available during emergencies
• Higher interest for senior citizens
• No market risk, savings are secure
• Extra benefit of insurance cover in SSP Plus, giving you more protection with your savings

Things to know before opening an IDBI RD

• Interest is compounded quarterly and paid on maturity
• Premature closure is allowed but may come with a 1% penalty
• TDS applies if the annual interest is above ₹40,000 (₹50,000 for senior citizens)
• Always check the latest IDBI recurring deposit interest rates before opening an account

How to open an IDBI Bank RD

Opening an RD is simple. You can do it through:

• IDBI Internet Banking
• IDBI Mobile App
• Any IDBI branch

Just choose your instalment amount, pick the tenure and confirm. Your RD starts instantly and can be tracked online. The IDBI recurring deposit interest rates 2025 make RDs a safe way to save regularly. With SSP and SSP Plus, added benefits for seniors and terms up to 10 years, they fit different saving styles.

Looking beyond RDs? Fixed deposits give you the same safety and flexibility in choosing tenure and amount. With Fibe, you can get started with just ₹1,000 and book your FD in minutes! Download the Fibe App now to start your investment journey! 

FAQs on IDBI Bank RD Interest Rates

Are IDBI Bank RD interest rates fixed for the entire tenure?

Yes. The IDBI Bank RD rates stay the same for the entire tenure of your RD.

How is interest on IDBI Bank RD calculated?

It is compounded quarterly and added to your balance. You receive the total amount at maturity.

Can I avail a loan against my IDBI Bank RD?

Yes. You can take a loan against your RD balance. The terms depend on your deposit amount and tenure.