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Interest Rates


Interest rates on the range of NRI products are listed below:
Senior Citizens are not given the facility of additional interest rate on investment made in any NRI Fixed Deposit (NRE / NRO / RFC / FCNR).

Non Resident Ordinary - NRO Deposit rates (Effective January 1, 2014)

Tenor Interest rate (% p.a.) for deposit less than Rs 1 Cr

15 - 45 days

6.00

46 days to 6 months

8.50

6 months 1 day

8.75

6 months 2 days to 499 days

9.10

500 days

9.30

501 days to 5 years

9.00

> 5 yrs - 7 yrs

9.00

> 7 yrs - 10 yrs

9.00

Non Resident (External) - NRE Deposit Rates (Effective March 1, 2014)

Tenor

Interest rate (% p.a.) for deposit less than Rs 1 Cr

1 year to 499 days

9.10

500 days

9.30

501 days to 3 yrs

9.00

> 3 yrs – 5 yrs

9.00

> 5 yrs - 7 yrs

9.00

> 7 yrs - 10 yrs

9.00

Note:-
The above rates are applicable only on Fresh NRE / NRO deposits and on renewal of maturing deposits for amounts less than Rs. 1 crore.

No interest will be paid on NRE deposits closed pre-maturely in less than 1 year.

For NRE / NRO deposit rates in respect of deposit amount of Rs. 1 crore and above, please contact IDBI Bank branch or mail us at nri@idbi.co.in
Interest Rate on Savings Accounts ( Effective March 1, 2011)

Account Type

Interest Rate (% p.a.)

Details

NRE

4.00 %

Interest is compounded Quarterly and paid Half Yearly

NRO

4.00 %

Resident Foreign Currency RFC Deposit rates ( % p.a.)(Effective April 1, 2014)

Maturity Slab

USD

GBP

EURO

JPY

Less than 29 days

1.37

1.72

1.42

0.07

30 days - 90 days

1.40

1.74

1.46

0.10

91 days - 6months

1.48

1.77

1.53

0.14

181 days – 1year

1.58

1.87

1.63

0.19

1 year 1 day - 2 years

2.56

2.91

2.55

0.34

2 years 1 day - <3 years

2.59

3.49

2.49

0.20

3 years only

4.05

4.82

3.64

0.22

Interest Rate on RFC Savings Accounts (Effective from July 14, 2011 )

Currency

Interest Rate (% p.a.)

USD

0.50%

GBP

3.00%

EUR

1.00%

Foreign Currency Non Resident (Bank) - FCNR (B) deposit rates ( % p.a.)(Effective April 1, 2014)

Maturity Slab

USD

GBP

EUR

AUD

CAD

JPY

SGD

HKD

CHF

1 Year - less than 2 Years

2.56

2.91

2.55

4.71

3.47

2.34

2.36

2.50

2.19

2 Years - less than 3 Years

2.59

3.49

2.49

4.96

3.40

2.20

2.68

2.81

2.11

3 Years to less than 4 Years

4.05

4.82

3.64

6.23

4.61

3.22

4.09

4.23

3.21

4 Years to less than 5 Years

4.48

5.07

3.82

6.53

4.86

3.27

4.50

4.65

   3.35

5 Years only

4.85

5.29

   4.01

6.74

   5.09

3.34

4.82

4.98

3.51

Note:-
No interest will be paid on FCNR deposits closed pre-maturely in less than 1 year.

FCNR(B) deposit above USD 1 million or equivalent should be placed with prior consultation of Branch or NRI Cell at nri@idbi.co.in
NRO Recurring deposits : (Effective February 1, 2014)

Maturity Slab

Interest Rate (% p.a.)

1 year – 15 months

9.00

> 15 months  – 5 yrs

9.00

> 5 yrs – 7 yrs

9.00

> 7 yrs – 10 yrs

9.00

NRE Recurring deposits: (Effective February 1, 2014)

Maturity Slab

Interest Rate (% p.a.)

1 year – 15 months

9.00

> 15 months  – 5 yrs

9.00

Interest payable on Premature Withdrawal of Term Deposits

There is no penalty on premature closure of term deposits. Interest payable on prematurely withdrawn deposits will be the contracted rate or the rate applicable for which the deposit remained with the Bank (rate applicable for that tenure on the original date of the deposit) whichever is lower.

Disclaimer: Interest rates on FCNR and RFC deposits are subject to change on the 1st of every month and as per the guidelines issued by the Reserve Bank of India from time to time.

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