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Home > Interest Rates

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. Oct 5, 2015) 9.75%
Current BPLR (w.e.f. Oct 5, 2015) 14.25 %
Marginal Cost of Fund Based Lending Rate ( MCLR-Quarterly review ) w.e.f. 01 Apr 2016

Tenor

MCLR ( in % )

Overnight

8.85

One Month

9.25

Three Month

9.35

Six Month

9.40

One Year

9.45

Two Year

9.75

Three Year

9.90

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. June 13, 2016)
Resident Term Deposit / NRO for deposit upto less than Rs. 1 Crore #

Maturity Slab

Interest Rate (% p.a.)

15-30days

4.50

31-45 days

5.25

46-60 days

6.25

61-90 days

6.50

91-6 months

7.00

6 months 1 day to 270 days

7.25

271 days to < 1year

7.25

1yrs to < 2yrs

7.50

2 yrs to < 3 yrs

7.50

3 yrs to < 5 yrs

7.50

5 years

7.40

> 5yrs - 7yrs

7.25

>7 yrs - 10 yrs

7.25

>10 yrs - 20 yrs*

7.00

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

Maturity Slab

Sr. Citizen Interest Rate (p.a. %)

15-30days

4.50

31-45 days

5.25

46-60 days

6.25

61-90 days

6.50

91-6 months

7.00

6 months 1 day to 270 days

7.25

271 days to < 1year

7.25

1yrs to < 2yrs

8.00

2 yrs to < 3 yrs

8.00

3 yrs to < 5 yrs

8.00

5 years

7.90

> 5yrs - 7yrs

7.75

>7 yrs - 10 yrs

7.75

>10 yrs - 20 yrs*

7.50

# 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. Resident Retail deposits on regular payment of interest basis (i.e. non-cumulative basis) may be accepted by the branches.

II. 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 1 year and above.

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

Between April 1 - June 30, 2014

8.82

Between July 1 - Sept 30, 2014

Between July 1 - September 30, 2014

8.69

Between October 1 - December 31, 2014

Between Oct.1 - Dec.31, 2014

8.39

Between January 1 - March 31, 2015

Between January 1 - March 31, 2015

8.01

Between April 1 - June 30, 2015

Between April 1 - June 30, 2015

7.83

Between July 1 - Sept 30, 2015

Between July 1 - September 30, 2015

7.50

Between October 1 - December 31, 2015

Between Oct.1 - Dec.31, 2015

7.22

Between January 1 - March 31, 2016

Between January 1 - March 31, 2016

7.21

Between April 1 - June 30, 2016

Between April 1 - June 30, 2016

6.93

Between July 1 - Sept 30, 2016

Detail of Anchor, Mark up and Effective rate for Regular and Senior Citizen
(Rate in % p.a)

   

EFFECTIVE RATE APPLICABLE FROM
July 1, 2016 to Sept 30, 2016

EFFECTIVE RATE APPLICABLE FROM
July 1, 2016 to Sept 30, 2016

Tenor
(Years)

Anchor Rate

Revised Mark-up

Effective rate on FRTD for Regular Depositor

Effective FRTD rate for Senior Citizen

Mark -up on the average rate (Applicable for existing FRTD opened prior to August 01, 2014)

Effective rate on FRTD for Regular Depositor

Effective FRTD rate for Senior Citizen

1

6.93

1.00

7.93

8.43

1.00

7.93

8.43

2

6.93

0.75

7.68

8.18

1.10

8.03

8.53

3

6.93

0.75

7.68

8.18

1.25

8.18

8.68

5

6.93

0.75

7.68

8.18

1.25

8.18

8.68

7

6.93

0.75

7.68

8.18

1.35

8.28

8.78

10

6.93

1.00

7.93

8.43

1.40

8.33

8.83

>10 - 20

6.93

0.65

7.58

8.08

1.40

8.33

8.83

Terms & Conditions
    1. Interest Payment - The interest on the deposit is payable quarterly on the last day of each quarter.
    2. Interest Reset - Every 3 months, coinciding with calendar quarters - on April 1, July 1, October 1 and January 1 every year.
    3. 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.
    4. Tax deduction at source - TDS applicable if the interest paid/ payable on deposit exceeds Rs. 10,000/- per customer, per year, per branch.
    5. 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 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.

    6. Senior Citizen - Senior Citizens will be paid interest at 50 basis point higher that applicable FRTD rate.
    7.Switch from Fixed to floating rate - Proposed to be allowed by closure of the existing Term Deposit under fixed rate and payment at the originally contracted rate. No Premature penalty to be levied provided rebooking tenure under the FRTD scheme is at least equal to the original residual period of the Term Deposit contracted at fixed rate of interest. No conversion of floating to fixed rate permissible.

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. June 13, 2016
Normal Retail Rate 7.40
Senior Citizens 7.90
Recurring Deposits **** (w.e.f. June 13, 2016)

Interest Rate (% p.a.)

Tenure

Normal

Senior Citizen

1yrs to < 2yrs

7.50

8.00

2 yrs to < 3 yrs

7.50

8.00

3 yrs to < 5 yrs

7.50

8.00

5 years

7.40

7.90

> 5yrs - 7yrs

7.25

7.75

>7 yrs - 10 yrs

7.25

7.75

**** 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 ) (w.e.f. June 20 , 2016)

Maturity Slabs

Rs.1 cr & above

07 – 14 days

5.50

15 – 45 days

6.00

46 –60 days

6.50

61-105 days

6.85

106-180 days

7.05

181-245 days

7.15

246-285 days

6.25

286 days-12 months

7.50

>12 months-35 months

7.50

>35 months -40 months

7.25

>40months-<5yrs

6.50

5 yrs -7 yrs

6.50

>7 yrs- 10 yrs

6.50

# 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.
4. Penalty for 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.
Mibor Linked Deposit (Effective from February 3, 2012)
Please contact our nearest branch for rate of interest and terms.
Retail Loans (w.e.f. April 01, 2016 )

Marginal Cost of Funding based Lending Rate (MCLR)

1 Year MCLR with annual reset clause - 9.45% p.a.

Base Rate

9.75% p.a.

Floating Rate Loans

HOME LOAN & ITS VARIANTS

  1. Home Loan (HL)

All Loan Amounts

9.60% (MCLR+0.15%)

  1. Home Loan Interest Saver (HLIS)

All loan Amounts

9.75% (MCLR+0.30%)

  1. IDBI NEEV

Sanction Amount

RoI

Upto Rs.25 lakh

9.85% (MCLR + 0.40%)

> Rs.25 lakh to Rs.75 lakh

10.10% (MCLR + 0.65%)

> Rs.75 lakh

10.35% (MCLR + 0.90%)

  1. Turnover based Home Loan

All loan Amounts

12.60% (MCLR + 3.15%)

  1. Scheme for Financing Rural/Semi Urban Housing

All loan Amounts

9.60% (MCLR + 0.15%)



  1. TOP UP LOANS

For home loan customers

For top-up amount upto 100% of the original sanction - Prevailing Rate for Home Loan.

  1. LOAN AGAINST PROPERTY & ITS VARIANTS

Loan AgainstĀ  Property (LAP)/ Loan Against Rent Receivable (LARR) (Floating)/ Loan Against Rent Receivable (LARR) to landlords of IDBI Bank

11.10%(MCLR+1.65%) for PSL

11.60% (MCLR +2.15%) for Non PSL

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

If interest not serviced during Pre-EMI/ Moratorium Period

11.35% (MCLR +1.90%)

11.60% (MCLR +2.15%)

Loan Against Property- Overdraft(LAP-OD)/Loan against Property-Interest Saver (LAP-IS)

11.35%(MCLR+1.90%) for PSL

11.85 %( MCLR+2.40%) for Non PSL

Loan for Commercial Property Purchase (LCPP)

11.60%(MCLR+2.15%) for PSL

11.85% (MCLR+2.40%) for Non PSL

Turnover Based
Loan Against Property and its variants

12.35%(MCLR+2.90%) for PSL

12.60 %( MCLR+3.15%) for Non PSL

  1. EDUCATION LOAN & ITS VARIANTS

Non-Vocational Courses

Sanction amount up to Rs.10 lakhs

10.60% (MCLR+1.15%)

Sanction amount above Rs. 10 lakhs

11.60% (MCLR+2.15%)

Vocational/ Skill Development Courses

All Amounts

10.60% (MCLR+1.15%)

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

All Amounts

9.60% (MCLR+0.15%)

Education Loan for ‘Other students who have secured admission under Management Quota’

All Amounts

12.50% (MCLR+3.05%)

PERSONAL LOAN & ITS VARIANTS

Pension Account with overdraft facility (For retired IDBI Staff)

10.60 (MCLR+1.15%)

Salary / Pension Account with overdraft facility (For others)

13.35 (MCLR+3.90%)

Fixed Rate Loans

  • Home Loan

All loan Amounts

For 3 Year Tenor

For > 3 Year Tenor

10.10%

10.35%

  • IDBI NEEV

Sanction Amount

RoI

Below Rs. 30 lakh

10.10%

Rs. 30 lakh & above

10.35%

  • Scheme for Financing Rural/Semi Urban Housing

All loan Amounts

10.10%

  • Reverse Mortgage Loan (RML)

All loan Amounts

10.85%

  • The RoI shall be reset every five years with prevailing Fixed Rate for Five Years.
  • Loan for Commercial Property Purchase (LCPP)

Fixed for 5 years

11.85% for PSL

12.00% for Non PSL

  • Education Loan to Physically Challenged Persons under NHFDC Guidelines (refinance scheme)

4% p.a. (Fixed) for boy students
3.5% p.a. (Fixed) for girl students
(subject to conditions)

  • AUTO LOAN

Primary Auto Loan for All Loan Amounts

9.95%

Combo Auto Loan for All Loan Amounts
(Available only if sanction tenor is > 3 years)

9.90%

  • The RoI shall be fixed for the tenor of the loan.
  • PERSONAL LOAN & ITS VARIANTS

Salaried customers / Pensioners maintaining salary / pension accounts with IDBI Bank

12.99%

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

13.49%

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

12.49%


Rate Conversion Offer
IDBI Bank has rolled out the facility of rate conversion from interest rate linked to Benchmark Prime Lending Rate (BPLR)/ Base Rate(BR) to the prevailing interest rate linked to Marginal Cost of Lending Rate (MCLR). The details of such offer are as under :

  • Conversion of existing BPLR/Base Rate linked ROI cases to MCLR based pricing wherein effective rate of interest will be kept unchanged.

  1. In case of such conversion offer, the rate of interest to be arrived by adding appropriate spread over MCLR applicable at the time of exercising such option.
  2. No charges will be levied for such rate conversion.
  3. In case of the existing customer(s) with present rate of interest less than the prevailing MCLR of one year will be shifted to minimum of prevailing one year MCLR.

  1. Conversion of existing BPLR / Base Rate linked ROI cases to MCLR based pricing where the effective rate of interest comes down as a result of fixing up of spread on MCLR as decided in our interest rate structure.

  1. In case of such conversion, the customers can avail a better interest rate in view of the extant MCLR based structure.  
  2. Conversion fees to be levied @ 0.10%(subject to change) plus applicable taxes on the outstanding loan amount.
  3. Such type of conversion facility is restricted only to the standard accounts with track record of regular payments.

For further assistance
Please contact your nearest Branch / Retail Asset center or Call:
1800-22-1070 (MTNL / BSNL)
1800-200-1947 (Mobile / Other)

Interest rate range of contracted loans for the past quarter and Annual Percentage Rate
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