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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.
Savings Bank Rate (w.e.f. October 1, 2017)

Saving Balance

Rate of Interest

Upto Rs. 25 lakh

3.5 % p.a

Above Rs. 25 lakh

4.0 % p.a

Base Rate (w.e.f. July 12, 2018) 9.60%
Current BPLR (w.e.f. .July 12,2018) 14.10%
Marginal Cost of Fund Based Lending Rate ( MCLR ) w.e.f. 12-10-2018

Tenor

MCLR ( in % )

Overnight MCLR

8.00%

One Month MCLR (1M)

8.25%

Three Month MCLR (Q)

8.45%

Six Month MCLR (HY)

8.60%

One year MCLR (Y)

8.85%

Two Year MCLR (2Y)

8.90%

Three Year MCLR (3Y)

8.90%

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. . October 15, 2018)
Resident Term Deposit / NRO for deposit upto less than Rs. 1 Crore #

Maturity Slab

Interest Rate (% p.a.)

15-30days

5.75

31-45 days

5.75

46-60 days

6.25

61-90 days

6.25

91-6 months

6.25

6 months 1 day to 270 days

6.50

271 days to < 1year

6.50

1 year

7.00

>1yrs to  2yrs

7.05

>2 yrs to < 3 yrs

7.05

3 yrs to < 5 yrs

6.85

5 years

6.85

> 5yrs - 7yrs

6.25

>7 yrs - 10 yrs

6.25

>10 yrs - 20 yrs*

6.00

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

Maturity Slab

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

15-30days

6.25

31-45 days

6.25

46-60 days

6.75

61-90 days

6.75

91-6 months

6.75

6 months 1 day to 270 days

7.00

271 days to < 1year

7.00

1year

7.50

>1yrs to  2yrs

7.55

>2 yrs to < 3 yrs

7.55

3 yrs to < 5 yrs

7.35

5 years

7.35

> 5yrs - 7yrs

6.75

>7 yrs - 10 yrs

6.75

>10 yrs - 20 yrs*

6.50

# 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.

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

Between July 1 - September 30, 2015

6.69

Between October 1 - December 31, 2016

Between October 1 - December 31, 2016

6.26

Between January 1 - March 31, 2017

Between January 1 - March 31, 2017

6.23

Between  Apr 1 - Jun 30, 2017

Between April 1 - Jun 30, 2017

6.40

Between  Jul 1 - Sep 30, 2017

Between  Jul 1 - Sep 30, 2017

6.26

Between  Oct 1 - Dec 31, 2017

Between  Oct 1 - Dec 31, 2017

6.27

Between  Jan 1 - Mar 31, 2018

Between  Jan 1 - Mar 31, 2018

6.57

Between  Apr 1 - Jun 30, 2018

Between  Apr 1 - Jun 30, 2018

6.80

Between  Jul 1 - Sep 30, 2018

Between  Jul 1 - Sep 30, 2018

7.38

Between  Oct 1 - Dec 31, 2018

EFFECTIVE RATE  (Oct 01, 2018 to Dec  31, 2018) (Rate in % p.a)

Tenor

Anchor Rate

Mark-up

Regular Depositor

Senior Citizen

Mark -up

Regular Depositor

Senior Citizen

(Years)

(Applicable for existing FRTD opened prior to August 01, 2014)

1

7.38

1.00

8.38

8.88

1.00

8.38

8.88

2

7.38

0.75

8.13

8.63

1.10

8.48

8.98

3

7.38

0.75

8.13

8.63

1.25

8.63

9.13

5

7.38

0.75

8.13

8.63

1.25

8.63

9.13

7

7.38

0.75

8.13

8.63

1.35

8.73

9.23

10

7.38

1.00

8.38

8.88

1.40

8.78

9.28

>10 – 20

7.38

0.65

8.03

8.53

1.40

8.78

9.28

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, 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, less 1% penalty.

    • 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.

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. October 15, 2018

Normal Retail Rate

6.85

Senior Citizens

7.35

Recurring Deposits **** (w.e.f. October 15, 2018)

Interest Rate (% p.a.)

Tenure

Normal

Senior Citizen

1 year

7.00

7.50

>1yrs to 2yrs

7.05

7.55

>2 yrs to < 3 yrs

7.05

7.55

3 yrs to < 5 yrs

6.85

7.35

5 years

6.85

7.35

> 5yrs - 7yrs

6.25

6.75

>7 yrs - 10 yrs

6.25

6.75

**** 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

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.
1. For Bulk Deposits of Rs. 1 crore and above, upto Rs. 5 crore (w.e.f. October 15, 2018)

Maturity Slabs

Rate of Interest (% p.a.)

07 – 14 days

4.00

15 – 30 days

5.75

31– 45 days

5.75

46 –60 days

6.25

61-90 days

6.25

91-6 months

6.25

6 months 1 day to 270 days

6.50

271 days to < 1 year

6.50

1 year

7.00

>1 year - 2 years

7.05

>2 years to < 3 years

7.05

3 years to < 5 years

6.85

5 years

6.85

>5 years - 7 years

6.25

>7 years - 10 years

6.25

>10 years - 20 years

6.00


Penalty for Premature Closure of Bulk Deposits
:
For Deposit of Rs. 1 crore to Rs. 5 crore

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. However, penalty for premature withdrawal will not be applicable for FDs booked for a tenor of 7-14 days

 
Mibor Linked Deposit (Effective from February 3, 2012)
Please contact our nearest branch for rate of interest and terms.
Retail Loans (w.e.f. June 18, 2018 )

Interest Rate structure for Structured Retail Asset (SRA) Products
Applicable w.e.f. June 18, 2018

FLOATING RATE LOANS

HOME LOAN & ITS VARIANTS

  1. Home Loan (HL)(plain vanila)

Up to  ₹ 35 lakhs

6 months MCLR + 0.05%

Above ₹ 35 lakhs and up to ₹ 75 lakhs   

6 Months MCLR + 0.20%

Above ₹ 75 lakhs

6 Months MCLR + 0.30%

Note :

  1. Card rate would be lower by 5 bps for women and salaried customers.
  2. The interest rates for women as stated above would be extended subject to income of the women applicant /co-applicant have been considered for loan eligibility and /or she is owner/co-owner of the property.   
  1. Home Loan Interest Saver (HLIS)

All loan Amounts

1Yr MCLR + 0.35%

  1. IDBI NEEV

Sanction Amount

RoI

Upto ₹ 35 lakh

1Yr MCLR + 0.45%             

> ₹ 35 lakh to ₹ 75 lakh

1Yr. MCLR + 0.70%

> ₹ 75 lakh

1Yr MCLR + 0.95%                         

  1. Turnover based Home Loan

All loan Amounts

1Yr MCLR + 3.20% 

  1. Scheme for Financing Rural/Semi Urban Housing

All loan Amounts

6M MCLR+0.00%



  1. TOP UP LOANS

For home loan customers

For top-up amount upto 100% of the original sanction –

  1. For housing purpose : Prevailing Home Loan Rate/ Product rate  + 0.10%
  2. For non housing purpose : Prevailing Home Loan Rate / Product Rate + 0.20%
  1. LOAN AGAINST PROPERTY & ITS VARIANTS

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

Up to ₹ 2 Cr.: 1 Yr. MCLR+ 1.25%                   

Above ₹ 2 Cr. - ₹ 5 Cr. : 1Yr. MCLR + 1.60%

Above ₹ 5 Cr :1 Yr. MCLR  + 1.75%

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

1 Yr. MCLR +1.65%

 1 Yr. MCLR +1.90%

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

1 Yr. MCLR +1.65% for PSL

1 Yr. MCLR + 2.15% for Non PSL

Loan for Commercial Property Purchase (LCPP)

 1 Yr. MCLR +1.90% for PSL

 1 Yr. MCLR + 2.15% for Non PSL

Turnover Based
Loan Against Property and its variants

 1 Yr. MCLR + 3.35%for PSL

1 Yr. MCLR + 3.45% for Non PSL

  1. EDUCATION LOAN & ITS VARIANTS

Non-Vocational Courses including students who have secured admission under Management Quota

Sanction amount up to Rs.10 lakhs

1 Yr MCLR+0.85%

Sanction amount above Rs. 10 lakhs

1 Yr. MCLR+1.45%

 

Vocational/ Skill Development Courses

All Amounts

 1Yr. MCLR+ 1.35%

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

All Amounts

6M MCLR+0.05%

  1. PERSONAL LOAN & ITS VARIANTS

Pension Account with overdraft facility (For retired IDBI Staff)

 1 Yr MCLR+1.15%

Salary / Pension Account with overdraft facility (For others)

 1 Yr MCLR+3.90%

FIXED RATE LOANS

  1. Home Loan

All loan Amounts

For 3 Year Tenor

For > 3 Year Tenor

10.25%

10.50%

  1. IDBI NEEV

Sanction Amount

RoI

Up to ₹ 35 lakh

10.25%

Above  ₹ 35 lakh

10.50%

 

  1. Scheme for Financing Rural/Semi Urban Housing

All loan Amounts

10.35%

  1. Reverse Mortgage Loan (RML)

All loan Amounts

10.85%

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

Fixed for 5 years

11.85% for PSL

12.00% for Non PSL

  1. 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)

  1. Auto Loan
  1. Four Wheeler (only for new vehicles)

CIBIL Score

Rate of Interest

801 and above

8.90%

751 to 800

9.00%

701 to 750

9.10%

651 to 700

9.50%

  1. Two Wheeler (High end bikes as per the product norm)

Existing customers (at least 3 months relationship)

9.50%

New Customer

9.60%

  1. Personal Loan and its variants

Borrower Category

CIBIL Score Range

801 and above

751 to 800

700 to 750

Payroll Accounts

12.00%

12.25%

13.25%

All other Salaried customer

12.25%

12.50%

13.50%

SEP/SENP having Asset/Liability Relationship  

13.00%

13.50%

14.00%



For further details please contact your nearest Branch / Retail Asset Centre.

Annual Percentage Rate (APR)

Product

Approx. Annual Percentage Rate (APR)

Home Loan 8.50%
Loan Against Property 9.96%
Auto Loan 9.47%
Personal Loan 13.59%
Education Loan 9.40%

*Terms & Conditions apply
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