Maturity: ₹2,29,776 at 7% p.a. Interest earned: ₹29,776. Senior citizen maturity: ₹2,32,044.
| Year | Deposit | Interest Earned | Maturity Value |
|---|
A ₹2 Lakh Fixed Deposit in IDBI Bank for 2 Years at 7% p.a. (quarterly compounding) will mature to ₹2,29,776. You earn ₹29,776 as interest, giving a total return of 14.9% on your investment.
At 7% p.a. (quarterly compounding), ₹2 Lakh FD in IDBI Bank for 2 Years matures to ₹2,29,776. Interest earned: ₹29,776. Senior citizen maturity: ₹2,32,044 at 7.5%.
IDBI Bank offers 7% p.a. for general citizens and 7.5% p.a. for senior citizens on 2 Years Fixed Deposit. The rate applies regardless of the deposit amount.
For ₹2 Lakh at 7% for 2 Years, you would earn approximately ₹29,776 as interest, making total maturity ₹2,29,776. Senior citizens earn ₹32,044 at 7.5%.
Yes, premature withdrawal is allowed. IDBI Bank's policy: 1% penalty on applicable rate. You will receive a reduced interest rate on early withdrawal.
Compare with other banks on this page to find the best rates. Bank FDs offer DICGC insurance up to \u20B95 Lakh. Consider both rate and safety.