Nowadays heart diseases and their diagnosis have emerged as a prominent subject in health care systems, given that the heart performs a crucial role in the human body. Several computational techniques have been explored for the recognition and classification of cardiac diseases using Electrocardiogram (ECG) signals. Deep Learning (DL) is a present focus in healthcare solicitations, particularly in the classification of heartbeats in ECG signals. Many studies have utilized dissimilar DL models, including RNN (Recurrent Neural Networks), GRU (Gated Recurrent Unit), and CNN (Convolutional Neural Networks), to classify heartbeats using the MIT-BIH arrhythmia dataset. This article presents a methodical exploration of Bi-LSTM (Bi directional Long Short-Term Memory) based DL models for heartbeat classification using various quality metrics. Proposed variants include the Bi-LSTM model, demonstrating remarkable accuracy in classifying the heartbeats into five classes: Normal (N) beat, Supraventricular (S) beat, Ventricular contraction (V), Fusion beats (F), and Unclassifiable Beat (Q). The proposed technique outperforms present classifiers with Accuracy, Sensitivity, Specificity, and F1 score values of 98%, 96.9%, 97.4%, and 97.5% respectively. The simulations are conducted using MATLAB 2020a.