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Interest Rates


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 (existing rate is 4.00% p.a.).
Savings Bank Rate (w.e.f. May 03, 2011) 4.00 % p.a.
Base Rate (w.e.f February 01, 2013) 10.25 %
All the loans are linked to Base Rate of the Bank
Current BPLR (w.e.f February 01, 2013) 14.75 %
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. January 01, 2014 )
Resident Term Deposit / NRO for deposit upto less than Rs. 1 Crore #

Tenor

Interest Rate (% p.a.)

15-45 days

6.00

46 days to 6 months

8.50

6 months 1 days

8.75

6 months 2 days to 499 days

9.10

500 days

9.30

501 days to 5 yrs

9.00

>5 yrs-7 yrs

9.00

>7 yrs – 10 yrs

9.00

>10 yrs up to 20 yrs *

8.50

Senior Citizen Interest Rates** for deposit upto less than Rs. 1 Crore#

Tenor

Interest Rate (% p.a.)

15-45 days

6.00

46 days to 6 months

8.50

6 months 1 days

8.75

6 months 2 days to 499 days

9.60

500 days

9.80

501 days to 5 yrs

9.50

>5 yrs-7 yrs

9.50

>7 yrs – 10 yrs

9.50

>10 yrs up to 20 yrs *

9.00

# Deposits of Rs 1 Crore and above are treated as Bulk deposit w.e.f April 01, 2013 as per the revised definition advised by RBI.
*
I. Retail deposits on regular payment of interest basis (i.e. non-cumulative basis) may be accepted by the branches.

II. Acceptance of deposits for any period over 10 years under Specified Government Schemes with interest cumulative on quarterly basis (cumulative basis) would require prior approval (RBG Corporate Centre).

III. Retail Deposits under Floating Rate Term Deposit (FRTD) Scheme for maturity bucket above 10 years to 20 years (non-cumulative) may also be accepted.

** The Senior Citizen Interest rates are 0.50% higher for deposits from 6 months 2 days and above, including for Suvidha Tax Saving Deposits.
Floating Rate Term Deposit

ANCHOR RATE DETAILS

Average of Weighted Avg. Yield of 364 days Treasury Bill Auction undertaken by RBI for Quarter

Anchor Rate (%)

Anchor Rate for Quarter

Between April 1 – June 30, 2012

8.19

July 1 – September 30, 2012

Between July 1 – September 30, 2012

8.04

Between October 1 – December 31, 2012

Between October 1 – December 31, 2012

8.05

Between January 1 – March 31, 2013

Between January 1 – March 31,2013

7.86

Between  April 1 – June 30, 2013

Between April 1 – June 30,2013

7.46

Between  July 1- Sept.30, 2013

Between  July 1- Sept.30, 2013

9.53

Between  Oct.1- Dec.31, 2013

Between  Oct.1- Dec.31, 2013

8.83

Between January 1 – March 31, 2014

Between January 1 – March 31, 2014

8.88

Between  April 1 – June 30, 2014

RATE APPLICABLE FROM April 1, 2014 TO June 30, 2014

Tenor

Anchor Rate

Mark -up on the average rate

Effective rate for FRTD rate

Senior Citizen

Staff

Staff Senior Citizen

(Years)

(%)

(%)

(%)

(%)

(%)

(%)

1

8.88

1.00

9.88

10.38

10.88

11.38

2

8.88

1.10

9.98

10.48

10.98

11.48

3

8.88

1.25

10.13

10.63

11.13

11.63

5

8.88

1.25

10.13

10.63

11.13

11.63

7

8.88

1.35

10.23

10.73

11.23

11.73

10

8.88

1.40

10.28

10.78

11.28

11.78

>10 – 20

8.88

1.40

10.28

10.78

11.28

11.78

Suvidha Tax Saving Fixed Deposits (5 YEARS)
w.e.f. May 13, 2013
Normal Retail Rate 9.00
Senior Citizens 9.50
Recurring Deposits **** (w.e.f. Feb 01, 2014)
  Interest Rate (% p.a.)
Tenure Normal Senior Citizen

1 Yr - 15 months

9.00

9.50

>15 months - 5 yrs

9.00

9.50

>5 yrs - 7 yrs

9.00

9.50

>7 yrs - 10 yrs

9.00

9.50

**** No interest shall be paid if Recurring Deposit (RD) is discontinued before three months. If RD is discontinued before one year but kept for at least 3 months with the Bank then Interest rate applicable for Savings Bank shall be paid.  In case of premature closure of Recurring Deposit by Sr. Citizen, the additional 50bps applicable to Sr. Citizen shall be made available provided the RD has been with the bank for complete 12 months from the date of the 1st installment.

Interest payable on Premature Withdrawal of Term Deposits
No penalty for premature withdrawal on Retail Term Deposit opened / renewed with effect from 1st Jan 2011.

With respect to Retail Term Deposit booked prior to January 1, 2011, no premature penalty will be applicable if the existing Term Deposit are prematurely closed and rebooked for an equal or longer maturity period. e.g. if a customer had booked an FD in April 14, 2010 for 2 years and he now proposes to preclose and reinvest afresh from January 01, 2011 for 2 years or more.

In case the customer prefers to prematurely withdraw the retail term deposit (booked before 01st Jan 2011) from the Bank, the penalty norms prevailing at the time of booking of the term deposit will be applicable.
# RATES FOR BULK DEPOSITS ( Rs. 1 cr. and Above ** ) (Revised w.e.f. April 04, 2014)

Maturity Slabs

1cr and above

07 – 14 days

6.50

15-30 days

6.50

31-45 days

7.00

46 – 60  days

7.00

61-90 days

7.00

91 -269 days

7.60

270 days-13 months 

8.00

>13 mnths -40 months

7.75

>40mnths-<5yrs

7.50

5 yrs -7 yrs

7.50

>7 yrs- 10 yrs

7.50

** Premature Closure of Bulk Deposits: Interest payable on prematurely withdrawn deposits will be the contracted rate or the rate applicable for which the deposit remained with the Bank, whichever is lower, less 1 % penalty.
# 1. Acceptance of deposits of 1 cr. and above is at the discretion of Bank's Treasury.
2. The above rates are subject to revision from time to time.
3. Customers may contact the nearest branch of the Bank for details.
Mibor Linked Deposit (Effective from February 3, 2012)
Please contact our nearest branch for rate of interest and terms.
Retail Loans (w.e.f. July 16, 2013)

Base Rate (BR)

10.25%p.a.

Home loans

Facility /Interest Type

For all loan amounts

Home Loan (Floating)

10.25% (BR+0.00%)

Home Loan Interest Saver (Floating)

10.50% (BR+0.25%)

Home Loan (Fixed ) for 3 to 10 years

Below Rs. 30 lac

Rs.30 lac & above

10.75% (BR+0.50%)

11.00% (BR+0.75%)

On completion of fixed period customer will be provided with an option to continue at the then Prevailing fixed Rate for next 3 years OR Switch to Prevailing Floating Rate.

Turnover based Loan (HL)

13.25% (BR+3.00%)(Floating)

Home Loans : Balance transfer + Top-up

Internal Top up : Maximum top-up amount is 100% of the originally sanctioned Home Loan. (Floating)

As per extant Home Loan rates of interest based on the combined exposure

10.25%(BR +0%)

Balance Transfer

As per extant Home Loan rates of interest

10.25%(BR +0%)

Top up along with Balance transfer

As per extant Home Loan rates of interest based on the combined exposure(BT+TOP UP)

10.25%(BR +0%)

If Top up amount is more than 100% of originally sanctioned Home Loan.

In case Top up amount exceeds 100% of originally sanctioned Home Loan, the additional amount would be offered at prevailing Loan Against Property(LAP) rate.

Loan against Property (special pricing offer from June 25, 2013 March 31, 2014)

Loan against property / Loan against Rent Receivable

Up to Rs.10 cr. (PSL)

Up to Rs.10 cr. (Non PSL) & Above Rs. 10 cr.

12.50% (BR+2.25%) Floating

13.00% (BR+2.75%) Floating

Loan Against Rent Receivable (LARR) to landlords of IDBI Bank

12.25% (BR+2.00%)(Floating)

Loan to the landlords of IDBI Bank Ltd for Setting up of Currency Chests against future rent receivables

If interest serviced during Pre-EMI/Moratorium Period:

12.00% (BR+1.75%)
(Floating)

If interest not serviced during Pre-EMI/Moratorium Period:

12.25% (BR+2.00%)
(Floating)

Loan against property - Overdraft

13.25% (BR+3.00%)(Floating)

Loan against Property Interest Saver

13.00% (BR+2.75%)(Floating)

Reverse Mortgage Loan

11.50% (BR+1.25%)(Fixed)

Turnover based Loan (LAP)

Upto Rs.10 cr. (PSL)

13.50% (BR+3.25%) Floating

Any Loan amount  (Non PSL)

13.75% (BR+3.50%) Floating

Loan for commercial property purchase

Loan upto Rs.5 cr

Loan above Rs.5 cr upto Rs.10 cr

Floating

12.50% (BR+2.25%)

13.25% (BR+3.00%)

Fixed

13.00% (BR+2.75%)

13.75% (BR+3.50%)

Education Loan (Floating)

Non-vocational

 

Loan amounts qualifying as Priority Sector Lending (PSL)
1. Up to Rs. 10 lac for studies in India
2. Up to Rs. 20 lac for studies Abroad

11.25% (BR+1.00%)

Loan amount not qualifying as Priority Sector Lending (PSL)
1. Above Rs. 10 lac for studies in India
2. Above Rs. 20 lac for studies Abroad

12.25% (BR+2.00%)

Vocational Courses

11.25% (BR+1.00%)

Education Loans for students studying in Premier Education Institutes (including ISB)

10.25% (BR+0.00%)

Education Loan for other students who secured admission under Management Quota.

13.75% (BR+3.50%)

Education Loan under Financial Inclusion program (FIP)

11.75% (BR+1.50%)

Auto Loan (Fixed) Festival offer w.e.f. October 09, 2013

For All Loan Amounts

10.25% (BR)

Personal Loan & its variants

Salaried customers maintaining salary accounts with IDBI Bank

13.75% (BR + 3.50%) Fixed

Salaried customers not maintaining salary accounts with IDBI Bank & Self Employed Professionals having liability relationship with IDBI Bank

14.25% (BR + 4.00% ) Fixed

Salaried individuals & Self Employed Professionals who have availed Home Loan/ Loan Against Property from us (only full disbursed cases)

13.25% (BR +3.00%) Fixed

Overdraft facility (Floating)

Pension Account with overdraft facility (to retired employees of IDBI Bank Ltd.)

11.25% (BR+1%) Floating

Salaried Account with overdraft facility

14.00% (BR+3.75%) Floating


The above rates are indicative in nature and may vary depending upon category of customer.
For further assistance
Please contact your nearest Branch / Retail Asset center or Call:
1800-22-1070 (MTNL / BSNL)
1800-200-1947 (Mobile / Other)
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