Domestic Interest Rates
Overview
As per RBI mandate, Savings Bank interest will be calculated on the daily balances maintained in your account, at a rate of interest decided by the Bank from time to time.
Savings Bank Rate (w.e.f. August 01 ,2022)
| Saving Balance | Rate of Interest (% p.a.) |
|---|---|
| Upto Rs. 5 Cr | 3.00 |
| Above Rs.5 Cr up to Rs.100 Cr | 3.25 |
| Above Rs. 100 Cr | 3.50 |
With effect from February 1,2021, Interest Rate on Savings Deposits is calculated basis incremental balance slabs.
| Base Rate (w.e.f. April 12,2019) | 9.65% |
| Current BPLR (w.e.f. April 12,2019) | 14.15% |
Marginal Cost of Fund Based Lending Rate ( MCLR ) w.e.f. 12-03-2023
| Tenor | MCLR |
|---|---|
| Overnight MCLR | 7.80% |
| One Month MCLR (1M) | 7.95% |
| Three Month MCLR (Q) | 8.25% |
| Six Month MCLR (HY) | 8.45% |
| One Year MCLR (Y) | 8.50% |
| Two Year MCLR (2Y) | 9.10% |
| Three Year MCLR (3Y) | 9.50% |
Fixed Deposits Interest Rate
The Bank pays interest on deposits as per various deposit schemes. Interest Rates are revised from time to time and made known to public. Revised interest rates are applicable only to the renewals and fresh deposits while existing deposit continue to get interest at the contracted rate
Interest Rate on Term Deposits (w.e.f. February 13, 2023)
Following are the rates on Resident / NRO Term Deposit less than Rs. 2 Crore #.For interest rate on NRE Term Deposit click here.
| Maturity Slab | ||
|---|---|---|
| Interest Rate (% p.a.) | ||
| Retail Term Deposits (< 2 Cr) | ||
| General Customers | Sr. Citizen | |
0-6 Days |
NA | NA |
07-14 days |
3.00 | 3.50 |
15-30 days |
3.00 | 3.50 |
31-45 days |
3.35 | 3.85 |
46- 60 days |
4.25 | 4.75 |
61-90 days |
4.25 | 4.75 |
91 days - 6 months |
4.75 | 5.25 |
6 months 1 day to 270 days |
5.50 | 6.00 |
271 days up to< 1 Year |
5.50 | 6.00 |
1 Year |
6.75 | 7.25 |
> 1 Year to 2 Years (except 444 Days & 700 Days) |
6.75 | 7.50# |
> 2 Years to < 3 Years |
6.50 | 7.25# |
3 Years to < 5 Years |
6.25 | 7.00# |
5 Years |
6.25 | 7.00# |
> 5 Years to 7 Years |
6.25 | 7.00# |
>7 Years to 10 Years |
6.25 | 7.00# |
>10 Years to 20 Years$ |
4.80 | 5.30 |
| Tax Saving FD | ||
5 Years |
6.25 | 7.00# |
$ Maturity bucket is eligible only for deposits from following beneficiaries (with effect from January 1st, 2021).
1) Awards from Motor Accident Tribunal / Courts / Other Judicial/ Statutory Bodies, 2) Specific Cases of margin money for Bank Guarantees
#rates on IDBI Naman Senior Citizen Deposit (total mark-up 0.75% over Card Rate).
General Terms & Conditions:
- Tenure for NRO Term Deposit is 07 days to 10 years.
- Tenure for NRE Term Deposit is 1 year to 10 years.
- Staff & Sr. Citizen rates are not applicable to NRO & NRE Term Deposits.
- No interest is paid if the deposit is held for the tenure of below 7 days, the minimum period for Term Deposits as per RBI guidelines.
- Interest payable on prematurely withdrawn deposits will be the rate applicable for the amount and the period for which the deposit remained with the Bank (rate applicable for that tenure on the original date of the deposit). To illustrate as an example, if a deposit is placed for 5 years and after 1 year the depositor wants to close the deposit prematurely, then the interest rate applied will be the rate which was applicable for one year on the original date of deposit.
- Bank will levy a penalty of 1%, on the applicable rate for deposits closed prematurely. Such closures include the withdrawals through sweep-ins and partial withdrawals as well.
#IDBI Naman Senior Citizen Deposit (w.e.f. 20th April 2022) :
- Resident Senior citizen customers will get an enhanced interest rate of 0.25% over and above existing additional rate of 0.50% per annum (total mark-up 0.75% over Card Rate).
- Eligible RTD tenures: Greater than 1 year up to 10 years.
- Scheme Validity: Extended up to 31st March, 2023.
- The additional rate will be available on fresh deposits opened as well as deposits renewed during the scheme period.
- All other features of term deposit as well as terms and conditions shall remain unchanged and are applicable for the above scheme also.
“Amrit Mahotsav FD” scheme of 444 Days and 700 Days - w.e.f. February 13, 2023
The interest rate structure is as under:
| Special Buckets | General/NRE/NRO | Senior Citizens | |
|---|---|---|---|
| 444 Days | 7.15 | 7.90# | |
| 700 Days | 7.25 | 8.00# | |
#rates on IDBI Naman Senior Citizen Deposit (total mark-up 0.75% over Card Rate). Normal mark-up of 1% will be available for Retired Staff Senior Citizens.
General Terms and Conditions-
- Premature withdrawal / closure permitted.
- Naman Senior Citizen rates (0.75%) are available.
- Staff & Senior Citizen Rates are not applicable to NRO & NRE term Deposits.
- All other features of term deposit as well as terms and conditions shall remain unchanged and are applicable for the above scheme also.
Bulk Term Deposits
| Interest Rate (% p.a.) [w.e.f. 29.03.2023] | |||||||
|---|---|---|---|---|---|---|---|
| Maturity Slabs | Rs 2 cr
to Rs. 5 cr |
>Rs 5 cr to Rs 10 cr |
>Rs 10 cr to Rs 50 cr |
>Rs 50 cr to Rs 100 cr |
>Rs 100 cr to Rs 200 cr |
>Rs 200 cr to Rs 500 cr |
>Rs 500 cr |
| 7 – 14 days | 5.01% | 5.51% | 5.85% | 7.01% | 7.01% | 7.01% | 7.01% |
| 15 – 30 days | 5.11% | 5.51% | 7.11% | 7.11% | 7.11% | 7.11% | 7.11% |
| 31– 45 days | 5.31% | 5.51% | 6.01% | 7.26% | 7.26% | 7.26% | 7.26% |
| 46 – 90 days | 6.51% | 6.61% | 7.55% | 7.60% | 7.60% | 7.60% | 7.60% |
| 91 - 180 days | 6.86% | 6.75% | 7.61% | 7.61% | 7.78% | 7.78% | 7.78% |
| 181 – 250 days | 6.91% | 7.75% | 7.91% | 7.91% | 7.91% | 7.91% | 7.91% |
| 251 days - 270 days | 6.91% | 6.91% | 7.61% | 7.61% | 7.61% | 7.61% | 7.61% |
| 271 days to < 1 year | 7.01% | 7.01% | 7.61% | 7.61% | 7.61% | 7.61% | 7.61% |
| 1 year | 7.41% | 7.41% | 7.71% | 7.95% | 7.96% | 7.96% | 7.96% |
| >1 year -1 year 3 month | 7.41% | 7.41% | 7.97% | 7.97% | 8.00% | 8.00% | 8.00% |
| >1 year 3 month - 2 year | 7.11% | 7.15% | 7.16% | 7.16% | 7.16% | 7.16% | 7.16% |
| >2 year- 36 month | 6.91% | 6.91% | 6.91% | 6.91% | 6.91% | 6.91% | 6.91% |
| >36 month- 5 year | 6.61% | 6.81% | 6.81% | 6.81% | 6.91% | 6.91% | 6.91% |
| >5 year- 7 year | 6.51% | 6.71% | 6.71% | 6.71% | 6.81% | 6.81% | 6.81% |
| >7 year- 10 year | 6.41% | 6.71% | 6.71% | 6.71% | 6.81% | 6.81% | 6.81% |
Floating Rate Term Deposit
| ANCHOR Rate Details (%) | |||
|---|---|---|---|
| Applicable to FRTDs opened- | up to Oct 30, 2018 | from Nov 1, 2018 | |
| Treasury Bill Auction undertaken by RBI during Quarter | Average of Weighted Avg. Yield of Treasury Bill Auction undertaken by RBI during Quarter | Anchor Rate applicable for Quarter | |
| 364 -Days Treasury Bill | 91-Days Treasury Bill | ||
| Jan 1-Mar 31, 2020 | 5.22 | 5.00 | Apr 01-Jun 30, 2020 |
| Apr 01-Jun 30, 2020 | 3.77 | 3.54 | Jul 01-Sept 30, 2020 |
| Jul 01-Sept 30, 2020 | 3.54 | 3.24 | Oct 01-Dec 31, 2020 |
| Oct 01-Dec 31, 2020 | 3.45 | 3.12 | Jan 01-Mar 31, 2021 |
| Jan 01-Mar 31, 2021 | 3.71 | 3.27 | Apr 01-Jun 30, 2021 |
| Apr 01-Jun 30, 2021 | 3.77 | 3.39 | Jul 01-Sept 30, 2021 |
| Jul 01-Sept 30,2021 | 3.69 | 3.37 | Oct 01-Dec 31, 2021 |
| Oct 01-Dec 31, 2021 | 4.09 | 3.54 | Jan 01-Mar 31, 2022 |
| Jan 01-Mar31,2022 | 4.56 | 3.74 | Apr 01-June 30, 2022 |
| Apr 01-June 30, 2022 | 5.59 | 4.6 | July 01 to Sept 30, 2022 |
| Jul 01-Sept 30, 2022 | 6.34 | 5.60 | Oct 01 - Dec 31,2022 |
| Between Oct 01 - Dec 31,2022 | 6.91 | 6.38 | from Jan 01-Mar31,2023 |
Anchor Rates are Average of Weighted Avg. Yield of Auction of 91 Days and 364 days TB undertaken by RBI during the calendar quarter
A) Applicable for New & Renewal of Existing FRTD accounts opened after Nov 01,2018Rates revised for period Jan 01, 2023 - Mar 31, 2023 ( 91 -T Bill)
| Tenor | Anchor Rate | Mark -up on average rate | Effective rate for FRTD | Senior Citizen |
|---|---|---|---|---|
| (Years) | (%) | (%) | (%) | (%) |
| 1 | 6.38 | 0.50 | 6.88 | 7.38 |
| 2 | 6.38 | 0.50 | 6.88 | 7.38 |
| 3 | 6.38 | 0.50 | 6.88 | 7.38 |
| 5 | 6.38 | 0.40 | 6.78 | 7.28 |
| 7 | 6.38 | 0.20 | 6.58 | 7.08 |
| 10 | 6.38 | 0.20 | 6.58 | 7.08 |
| >10 – 20 $ | 6.38 | 0.10 | 6.48 | 6.98 |
Rates revised for period Jan 01, 2023 - Mar 31, 2023 ( 364 -T Bill)
| Tenor | Anchor Rate | Mark -up on average rate | Effective rate for FRTD | Senior Citizen |
|---|---|---|---|---|
| (Years) | (%) | (%) | (%) | (%) |
| 1 | 6.91 | 1.00 | 7.91 | 8.41 |
| 2 | 6.91 | 0.75 | 7.66 | 8.16 |
| 3 | 6.91 | 0.75 | 7.66 | 8.16 |
| 5 | 6.91 | 0.75 | 7.66 | 8.16 |
| 7 | 6.91 | 0.75 | 7.66 | 8.16 |
| 10 | 6.91 | 1.00 | 7.91 | 8.41 |
| >10 – 20 | 6.91 | 0.65 | 7.56 | 8.06 |
Rates revised for period Jan 01, 2023 - Mar 31, 2023 ( 364 -T Bill)
| Tenor | Anchor Rate | Mark -up on average rate | Effective rate for FRTD | Senior Citizen |
|---|---|---|---|---|
| (Years) | (%) | (%) | (%) | (%) |
| 1 | 6.91 | 1.00 | 7.91 | 8.41 |
| 2 | 6.91 | 1.10 | 8.01 | 8.51 |
| 3 | 6.91 | 1.25 | 8.16 | 8.66 |
| 5 | 6.91 | 1.25 | 8.16 | 8.66 |
| 7 | 6.91 | 1.35 | 8.26 | 8.76 |
| 10 | 6.91 | 1.40 | 8.31 | 8.81 |
Terms & Conditions
- Interest Payment - The interest on the deposit is payable quarterly on the last day of each quarter.
- Interest Reset - Every 3 months, coinciding with calendar quarters - on April 1, July 1, October 1 and January 1 every year.
- Minor's account - A minor alone cannot open an FRTD as the maturity amount cannot be determined at the time of opening the FRTD. Minor’s account to be can opened jointly with his/her guardian only.
- Tax deduction at source - TDS applicable as per prevalent rules & regulations.
- Premature Withdrawal -
- a) Minimum Lock-in period: one year; No premature withdrawal up to one year.
- b) After one year, the rate applicable, in the event of premature withdrawal, would be the average benchmark rate of the immediate preceding quarter with the mark up of applicable preceding tenor less 1% penalty e.g. If the depositor books deposit for 2 years and requests for a pre closure after 1year and 110 days the applicable rate would be the average benchmark of the preceding quarter of the last quarter the deposit had remained with the Bank (as applicable for the relevant quarter) plus the mark up of 1 year.
- c) The calculation of interest shall be as per extant guidelines for term deposit carrying fixed rate.
- Senior Citizen - Senior Citizens will be paid interest at 50 basis point higher that applicable FRTD rate.
Disclaimer - The mark-up would be revised at the Bank's discretion. The revised mark-up would be applicable only for fresh and renewal of existing deposits.
Suvidha Tax Saving Fixed Deposits (5 YEARS)
| w.e.f. February 13, 2023 | |
|---|---|
| Normal Retail Rate | 6.25 |
| Senior Citizens | 7.00# |
Systematic Savings Plan (SSP /SSP Plus)**** (w.e.f. February 13, 2023)
| Maturity Slab | Interest Rate (% p.a.) | |
|---|---|---|
| General Customers | Senior Citizens | |
| 1 year | 6.75 | 7.25 |
| > 1 Year to 2 Years | 6.75 | 7.50# |
| > 2 Years to < 3 Years | 6.50 | 7.25# |
| 3 years to < 5years | 6.25 | 7.00# |
| 5 years | 6.25 | 7.00# |
| > 5 years to 7 years | 6.25 | 7.00# |
| >7 years to 10 years | 6.25 | 7.00# |
Interest payable on Premature Withdrawal of Term Deposits- Interest payable on prematurely withdrawn deposits will be the rate applicable for the amount and the period for which the deposit remained with the Bank (rate applicable for that tenure on the original date of the deposit) For such premature withdrawals, including sweep-ins and partial withdrawals, the Bank will levy a penalty of 1%, on the applicable rate.
Mibor Linked Deposit (Effective from February 3, 2012)
Please contact our nearest branch for rate of interest and terms.Retail Loans
Interest Rate structure for Structured Retail Asset (SRA) Products
RLLR SRA = 9.10% for new loans w.e.f. February 12, 2023
Floating ROI (Floating Rate Loans linked to Repo Linked Lending Rate -RLLR)
Home Loan
| Plain Vanilla Home Loan (Purchase/Construction/Extension) | |
|---|---|
| Category | Rate of Interest |
| Salaried/Self Employed Professional | *8.75% - 10.75% |
| Self Employed Non-Professional | *8.75% - 12.25% |
| *Limited period offer | |
| Home loan Top Up | |
|---|---|
| Housing Purpose | HL ROI + 20 BPS |
| Suvidha Top up (Non Housing purpose) | HL ROI + 75 BPS |
| Plot Loan for House Construction | |
|---|---|
| IDBI Neev | 9.80% - 10.40% |
| IDBI Neev 2.0 | 10.10% - 10.70% |
| Rural/Semi Urban Housing | ||
|---|---|---|
| Category | Rate of Interest | |
| Loan amount Up to Rs.35 Lakh | Salaried | 9.45% |
| Self Employed Professional | 9.55% | |
| Self Employed Non-Professional | 9.70% | |
Loan against Property (LAP)
| Loan Against Property (LAP) | Rate of Interest |
|---|---|
| Residential Property | 10.45% - 11.45% |
| Commercial Property | 10.95% - 11.70% |
| Loan for Commercial Property Purchase (LCPP) | Rate of Interest |
|---|---|
| 11.15% - 11.95% | |
Education Loan
| Non-Vocational Courses including students who have secured admission under Management Quota | |
|---|---|
| Up to Rs.7.5 lakhs | 10.60% |
| Above Rs. 7.5 lakhs | 11.10% |
| Vocational/ Skill Development Courses | |
|---|---|
| All Amounts | 11.00% |
| Loans for students studying in Premier Education Institutes (including ISB) | |
|---|---|
| All Amounts | 9.10% |
Concession for Education Loan*
- 50 bps for girl applicant;
- 25 bps for existing Bank customer (Asset / Liability) and their children
- 25 bps for physically challenged applicants;
- 25 bps for SC / ST / Minority community;
The total concessions in applicable interest rate not to exceed 100 bps for all customers subject to prevailing RLLR.
*Conditions apply
Personal Loan
| Salary/Pension Overdraft | |
|---|---|
| Pension Account with overdraft facility (For retired IDBI Staff) | 10.50% |
| Salary / Pension Account with overdraft facility (For others) | 13.25% |
Loan against Securities
| ROI Range | 10.10% - 11.10% |
Auto Loan
| ROI Range | 8.75% - 9.45% |
Fixed ROI: Home Loan
Plain Vanilla Home Loan (Purchase/Construction/Extension)
| All loan Amounts | For 3 Year Tenor | For > 3 Year Tenor |
| 9.85% | 10.10% | |
| IDBI NEEV (Plot Loan for House Construction) |
Sanction Amount | Rate of Interest |
| Up to Rs. 35 lakh | 10.00% | |
| Above Rs. 35 lakh | 10.25% | |
Scheme for Financing Rural/Semi Urban Housing
| All loan Amounts |
| 9.60% |
Fixed ROI : Reverse Mortgage Loan (RML)
| All loan Amounts |
| 10.85% |
Fixed ROI: Loan for Commercial Property Purchase (LCPP) ( Fixed for 5 years)
| PSL | 11.85% |
| Non PSL | 12.00% |
Fixed ROI : Education Loan
An Education Loan to Physically Challenged Persons under NHFDC Guidelines (refinance scheme)
| Loan Amount | Rate of interest (fixed) |
|---|---|
| Less than Rs. 50,000 | 5 % p.a. |
| Above Rs. 50,000 to Rs. 5 lakhs | 6 % p.a. |
| Above Rs. 5 lakh to Rs. 15 lakhs | 7 % p.a. |
| Above Rs. 15 lakhs to Rs. 30 lakhs | 8 % p.a. |
| Above Rs. 30 lakhs to Rs. 50 lakhs | 9 % p.a. |
Fixed ROI : Personal Loan
| ROI Range | 11.00% to 15.50% |
Fixed ROI : Auto loan
| ROI Range | 9.20% to 9.90% |
For further details please contact your nearest Branch / Retail Asset Centre.
Annual Percentage Rate (APR)
| Product | Approx. Annual Percentage Rate (APR) |
|---|---|
| Home Loan | 8.64% |
| Loan Against Property | 10.29% |
| Auto Loan | 9.37% |
| Personal Loan | 13.59% |
| Education Loan | 9.40% |