IDBI Bank has announced the launch of its ‘Aarogya Fixed Deposit’ scheme, a distinctive financial product that combines assured fixed deposit returns with health insurance coverage, reinforcing the bank’s commitment to enhancing customer well-being alongside financial security.
Under the scheme, customers can invest a fixed amount of ₹7.50 lakh for a tenure of 370 days and receive health insurance coverage of up to ₹15 lakh in addition to earning interest on the fixed deposit. The health insurance component is provided through Care Health Insurance, which has been identified as the insurance partner for the product.
The Aarogya Fixed Deposit is exclusively designed for resident individual customers between the ages of 18 years and 58 years 11 months. By integrating a traditional savings instrument with a substantial health insurance benefit, the scheme aims to offer a holistic financial solution that addresses both wealth creation and healthcare security.
Speaking on the launch, Shri Sumit Phakka, Deputy Managing Director at IDBI Bank, said the initiative reflects the bank’s continued focus on customer-centric innovation. He noted that by combining assured returns with meaningful health insurance coverage, the bank is offering a solution that supports both financial stability and health protection.
The introduction of the Aarogya Fixed Deposit comes at a time when individuals are increasingly prioritizing comprehensive financial planning that includes health risk mitigation. With healthcare costs rising steadily, the integration of insurance benefits into traditional banking products represents a strategic step toward providing customers with integrated financial solutions.
Through this offering, IDBI Bank seeks to differentiate itself in the competitive banking landscape by delivering added value beyond conventional deposit schemes. The Aarogya Fixed Deposit underscores the growing trend of financial institutions developing hybrid products that align savings with essential protection needs, strengthening customers’ financial resilience in an uncertain environment.
