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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. September 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 8.00
6 months 1 days        9.00
6 months 2 days to 499 days 9.00
500 days 9.05
501 days to <5 yrs 9.00
5 yrs 9.10
>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 8.00
6 months 1 days 9.00
6 months 2 days to 499 days 9.50
500 days 9.30
501 days to <5 yrs 9.50
5 yrs 9.60
>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 except for 500 days maturity bucket, where additional rate for Sr. Citizen is 0.25% only. The additional rate of Senior Citizen on Suvidha Tax Saving Deposits is uniformly 0.50%.
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
Detail of Anchor, Mark up and Effective rate for Regular and Senior Citizen (Rate in % p.a)
    EFFECTIVE RATE APPLICABLE FROM October 01,2014 TO December 31, 2014 EFFECTIVE RATE APPLICABLE FROM October 01,2014 TO December 31, 2014
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 8.69 1.00 9.69 10.19 1.00 9.69 10.19
2 8.69 0.75 9.44 9.94 1.10 9.79 10.29
3 8.69 0.75 9.44 9.94 1.25 9.94 10.44
5 8.69 0.75 9.44 9.94 1.25 9.94 10.44
7 8.69 0.75 9.44 9.94 1.35 10.04 10.54
10 8.69 1.00 9.69 10.19 1.40 10.09 10.59
>10 - 20 8.69 0.65 9.34 9.84 1.40 10.09 10.59

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. 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 ** ) (w.e.f. October 01, 2014)
Maturity Slabs  Rs.1 cr and above
07 – 14 days 7.00
15-30 days 7.00
31-45 days 7.00
46 – 60  days 7.25
61-90 days 7.75
91 -140 days 8.25
141 -183 days * 7.75
184 -269 days 8.90
270 days-13 months 8.90
>13 months-35 months 8.25
>35 months -40 months 8.50
>40mnths-<5yrs 8.25
5 yrs -7 yrs 8.25
>7 yrs- 10 yrs 8.25
# 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.

** 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. May 7, 2014 )
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) 10.40% (BR+0.15%)
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
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 13.25% (BR+3.00%)
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) w.e.f.May 7, 2014)
For All Loan Amounts 10.60% (BR+0.35%)
Auto Loan Combo Offer For Existing Home Loan Borrowers 0.25% concession on Auto Loan ROI (Card Rate) subject to Base Rate
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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