The range of services offered by IDBI Bank is extensive. For retail customers, the bank provides savings, current, and salary accounts, as well as fixed deposits. It also offers a wide range of loan products such as home loans, auto loans, education loans, and personal loans. Additionally, customers can avail loans against properties and securities. The bank provides debit, credit, and prepaid cards, along with convenient banking services through phone, mobile, and internet banking platforms.
IDBI Bank also caters to the investment needs of its customers by offering investment advisory and capital market services. The bank provides fund and non-fund-based assistance, packing credit to exporters, and receivable buyout with recourse. It also offers channel financing for dealers of corporates and a scheme for financing automated teller machines (ATMs)/cash dispense vendors.
Furthermore, IDBI Bank provides various financial services such as bank guarantees, letters of credit, documentary collection, bill discounting, and foreign currency services. The bank also specializes in cash management, treasury, trade finance, and remittance services. It offers debt syndication and advisory services to meet the diverse financial needs of its clients.
IDBI Bank is committed to supporting micro, small, and medium enterprises (MSMEs) by providing them with finance. The bank also offers agriculture finance and a range of products and services for non-resident Indians (NRIs).
Apart from its core banking services, IDBI Bank provides additional services such as information technology and security, contact center services, merchant banking, stock broking, and portfolio management of pension/PF funds. The bank also offers mutual fund services, security trusteeship assignments, and acts as a trustee to securitization transactions and bond/debentures.
As of March 31, 2022, IDBI Bank operated through a vast network of 1,886 branches, 3,403 ATMs, and 58 e-lounges across India. The bank was originally known as IDBI Ltd. and later changed its name to IDBI Bank Limited in May 2008. With its headquarters in Mumbai, IDBI Bank has a rich history, having been founded in 1964.