Domestic Interest Rates

Overview

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. August 01 ,2022)

Saving Balance Rate of Interest (% p.a.)
Upto Rs. 5 Cr 3.00
Above Rs.5 Cr up to Rs.100 Cr 3.25
Above Rs. 100 Cr 3.50

With effect from February 1,2021, Interest Rate on Savings Deposits is calculated basis incremental balance slabs.

Base Rate (w.e.f. April 12,2019) 9.65%
Current BPLR (w.e.f. April 12,2019) 14.15%

Marginal Cost of Fund Based Lending Rate ( MCLR ) w.e.f. 12-11-2022

Tenor MCLR
Overnight MCLR 7.45%
One Month MCLR (1M) 7.60%
Three Month MCLR (Q) 7.90%
Six Month MCLR (HY) 8.10%
One year MCLR (Y) 8.20%
Two Year MCLR (2Y) 8.80%
Three Year MCLR (3Y) 9.20%

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. November 01, 2022)

Following are the rates on Resident / NRO Term Deposit less than Rs. 2 Crore #.
For interest rate on NRE Term Deposit click here.
Maturity Slab
Interest Rate (% p.a.)
Retail Term Deposits (< 2 Cr)
General Customers Sr. Citizen

0-6 Days

NA NA

07-14 days

3.00 3.50

15-30 days

3.00 3.50

31-45 days

3.35 3.85

46- 60 days

4.25 4.75

61-90 days

4.25 4.75

91-6 months

4.50 5.00

6 months 1 day to 270 days

5.25 5.75

271 days up to< 1 year

5.50 6.00

1 year

6.25 6.75

> 1 Year to 554 Days

6.25 7.00#

556 days to 2 years

6.25 7.00#

> 2 Years to < 3 Years

6.25 7.00#

3 years to < 5years

6.10 6.85#

5 years

6.10 6.85#

> 5 years to 7 years

6.10 6.85#

>7 years to 10 years

6.10 6.85#

>10 years to 20 years$

4.80  5.30

Tax Saving FD

5 years

6.10 6.85#

$ Maturity bucket is eligible only for deposits from following beneficiaries (with effect from January 1st, 2021).

1) Awards from Motor Accident Tribunal / Courts / Other Judicial/ Statutory Bodies, 2) Specific Cases of margin money for Bank Guarantees

#rates on IDBI Naman Senior Citizen Deposit (total mark-up 0.75% over Card Rate).

General Terms & Conditions:

  • Tenure for NRO Term Deposit is 07 days to 10 years.
  • Tenure for NRE Term Deposit is 1 year to 10 years.
  • Staff & Sr. Citizen rates are not applicable to NRO & NRE Term Deposits.
  • No interest is paid if the deposit is held for the tenure of below 7 days, the minimum period for Term Deposits as per RBI guidelines.
  • 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). To illustrate as an example, if a deposit is placed for 5 years and after 1 year the depositor wants to close the deposit prematurely, then the interest rate applied will be the rate which was applicable for one year on the original date of deposit.
  • Bank will levy a penalty of 1%, on the applicable rate for deposits closed prematurely. Such closures include the withdrawals through sweep-ins and partial withdrawals as well.

#IDBI Naman Senior Citizen Deposit (w.e.f. 20th April 2022) :

  • Resident Senior citizen customers will get an enhanced interest rate of 0.25% over and above existing additional rate of 0.50% per annum (total mark-up 0.75% over Card Rate).
  • Eligible RTD tenures: Greater than 1 year up to 10 years.
  • Scheme Validity: Extended up to 31st December, 2022.
  • The additional rate will be available on fresh deposits opened as well as deposits renewed during the scheme period.
  • All other features of term deposit as well as terms and conditions shall remain unchanged and are applicable for the above scheme also.

Introduction of “Amrit Mahotsav” special deposit variant in 700 Days (Callable Option) for limited period and revised rate under 555 days bucket.

Festive Offer- “Amrit Mahotsav FD” scheme of 700 and 555 days (w.e.f. November 01, 2022)

The interest rate structure is as under:

Special Buckets General and NRE SR.CITIZEN
700 Days
7.00 7.50
555 Days
6.50 7.00

#The normal mark-up of 0.50% ONLY will be available for senior citizens and normal mark-up of 1% will be available for Retired Senior Citizens Staff.

The Amrit Mahotsav FD Scheme of 500 Days and 1100 Days discontinued from October 21, 2022.

General Terms and Conditions-

  • Premature withdrawal / closure permitted.
  • Naman Senior Citizen rates are not allowed.
  • Staff & Senior Citizen Rates are not applicable to NRO & NRE term Deposits.
  • All other features of term deposit as well as terms and conditions shall remain unchanged and are applicable for the above scheme also.

Bulk Term Deposits

Interest Rate (% p.a.) [w.e.f. 04.11.2022]
Maturity Slabs Rs 2 cr to Rs. 5 cr > Rs 5 cr to Rs 10 cr For interest rates of bulk term deposit
of above Rs.10 Crore,
Kindly Contact the nearest Branch.
7 – 14 days 4.60 5.41
15 – 30 days 5.01 5.41
31– 45 days 5.01 5.41
46 – 90 days 5.31 5.96
91 - 180 days 5.76 6.21
181 – 250 days 6.01 6.51
251 days - 270 days 6.11 6.51
271 days to < 1 year 6.31 6.71
1 year 6.61 7.01
>1 year -1 year 3 month 6.61 7.01
>1 year 3 month - 2 year 6.61 7.01
>2 year- 36 month 6.61 6.81
>36 month- 5 year 6.61 6.81
>5 year- 7 year 6.51 6.71
>7 year- 10 year 6.41 6.71

Floating Rate Term Deposit

ANCHOR Rate Details (%)
Applicable to FRTDs opened- up to Oct 30, 2018 from Nov 1, 2018  
Treasury Bill Auction undertaken by RBI during Quarter Average of Weighted Avg. Yield of Treasury Bill Auction undertaken by RBI during Quarter Anchor Rate applicable for Quarter
  364 -Days Treasury Bill 91-Days Treasury Bill  
Jan 1-Mar 31, 2020 5.22 5.00 Apr 01-Jun 30, 2020
Apr 01-Jun 30, 2020 3.77 3.54 Jul 01-Sept 30, 2020
Jul 01-Sept 30, 2020 3.54 3.24 Oct 01-Dec 31, 2020
Oct 01-Dec 31, 2020 3.45 3.12 Jan 01-Mar 31, 2021
Jan 01-Mar 31, 2021 3.71 3.27 Apr 01-Jun 30, 2021
Apr 01-Jun 30, 2021 3.77 3.39 Jul 01-Sept 30, 2021
Jul 01-Sept 30,2021 3.69 3.37 Oct 01-Dec 31, 2021
Oct 01-Dec 31, 2021 4.09 3.54 Jan 01-Mar 31, 2022
Jan 01-Mar31,2022 4.56 3.74 Apr 01-June 30, 2022
Between Apr 01-June 30, 2022 5.59 4.6 July 01 to Sept 30, 2022
Between Jul 01-Sept 30, 2022 6.34 5.60 from Oct 01 to Dec 31, 2022

Anchor Rates are Average of Weighted Avg. Yield of Auction of 91 Days and 364 days TB undertaken by RBI during the calendar quarter

A) Applicable for New & Renewal of Existing FRTD accounts opened after Nov 01,2018
Rates revised for period Oct 01, 2022 - Dec 31, 2022 ( 91 -T Bill)
Tenor Anchor Rate Mark -up on average rate Effective rate for FRTD Senior Citizen
(Years) (%) (%) (%) (%)
1 5.60 0.50 6.10 6.60
2 5.60 0.50 6.10 6.60
3 5.60 0.50 6.10 6.60
5 5.60 0.40 6.00 6.50
7 5.60 0.20 5.80 6.30
10 5.60 0.20 5.80 6.30
>10 – 20 $ 5.60 0.10 5.70 6.20
B) Applicable for Existing FRTD accounts opened during August 01, 2014 to Oct 31,2018
Rates revised for period Oct 01, 2022 - Dec 31, 2022 ( 364 -T Bill)
Tenor Anchor Rate Mark -up on average rate Effective rate for FRTD Senior Citizen
(Years) (%) (%) (%) (%)
1 6.34 1.00 7.34 7.84
2 6.34 0.75 7.09 7.59
3 6.34 0.75 7.09 7.59
5 6.34 0.75 7.09 7.59
7 6.34 0.75 7.09 7.59
10 6.34 1.00 7.34 7.84
>10 – 20 6.34 0.65 6.99 7.49
C) Applicable for Existing FRTD accounts opened prior to August 01, 2014
Rates revised for period Oct 01, 2022 - Dec 31, 2022 ( 364 -T Bill)
Tenor Anchor Rate Mark -up on average rate Effective rate for FRTD Senior Citizen
(Years) (%) (%) (%) (%)
1 6.34 1.00 7.34 7.84
2 6.34 1.10 7.44 7.94
3 6.34 1.25 7.59 8.09
5 6.34 1.25 7.59 8.09
7 6.34 1.35 7.69 8.19
10 6.34 1.40 7.74 8.24

Terms & Conditions

  • Interest Payment - The interest on the deposit is payable quarterly on the last day of each quarter.
  • Interest Reset - Every 3 months, coinciding with calendar quarters - on April 1, July 1, October 1 and January 1 every year.
  • 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.
  • Tax deduction at source - TDS applicable as per prevalent rules & regulations.
  • 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.
    • c) The calculation of interest shall be as per extant guidelines for term deposit carrying fixed rate.
  • 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. November 01, 2022
Normal Retail Rate 6.10
Senior Citizens 6.85#

Systematic Savings Plan (SSP /SSP Plus)**** (w.e.f. November 01, 2022)

Maturity Slab Interest Rate (% p.a.)
NORMAL SR. CITIZEN
1 year 6.25 6.75
> 1 Year to 2 Years 6.25 7.00#
> 2 Years to < 3 Years 6.25 7.00#
3 years to < 5years 6.10 6.85#
5 years 6.10 6.85#
> 5 years to 7 years 6.10 6.85#
>7 years to 10 years 6.10 6.85#

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.

Mibor Linked Deposit (Effective from February 3, 2012)

Please contact our nearest branch for rate of interest and terms.

Retail Loans

Interest Rate structure for Structured Retail Asset (SRA) Products

RLLR SRA = 8.50% for new loans w.e.f. October 12, 2022

Floating ROI (Floating Rate Loans linked to Repo Linked Lending Rate -RLLR)

Home Loan
Plain Vanilla Home Loan (Purchase/Construction/Extension)
Category Rate of Interest
Salaried/Self Employed Professional *8.40% - 10.15%
Self Employed Non-Professional *8.50% - 11.65%
*Limited period offer
Home loan Top Up
Housing Purpose HL ROI + 20 BPS
Suvidha Top up (Non Housing purpose) HL ROI + 75 BPS
Plot Loan for House Construction
IDBI Neev 9.20% - 9.80%
IDBI Neev 2.0 9.50% - 10.10%
Rural/Semi Urban Housing
Category Rate of Interest
Loan amount Up to Rs.35 Lakh Salaried 8.85%
Self Employed Professional 8.95%
Self Employed Non-Professional 9.10%

Loan against Property (LAP)

Loan Against Property (LAP) Rate of Interest
Residential Property 9.85% - 10.85%
Commercial Property 10.35% - 11.10%
Loan for Commercial Property Purchase (LCPP) Rate of Interest
10.55% - 11.35%

Education Loan

Non-Vocational Courses including students who have secured admission under Management Quota
Up to Rs.7.5 lakhs 10.00%
Above Rs. 7.5 lakhs 10.50%
Vocational/ Skill Development Courses
All Amounts 10.40%
Loans for students studying in Premier Education Institutes (including ISB)
All Amounts 8.50%

Concession for Education Loan*

  • 50 bps for girl applicant;
  • 25 bps for existing Bank customer (Asset / Liability) and their children
  • 25 bps for physically challenged applicants;
  • 25 bps for SC / ST / Minority community;

The total concessions in applicable interest rate not to exceed 100 bps for all customers subject to prevailing RLLR.

*Conditions apply

Personal Loan

Salary/Pension Overdraft
Pension Account with overdraft facility (For retired IDBI Staff) 9.90%
Salary / Pension Account with overdraft facility (For others) 12.65%

Loan against Securities

ROI Range 9.50% - 10.50%

Auto Loan

ROI Range 8.75% - 11.10%

Fixed ROI: Home Loan

Plain Vanilla Home Loan (Purchase/Construction/Extension)

All loan Amounts For 3 Year Tenor For > 3 Year Tenor
  9.85% 10.10%
IDBI NEEV
(Plot Loan for House Construction)
Sanction Amount Rate of Interest
  Up to Rs. 35 lakh 10.00%
  Above Rs. 35 lakh 10.25%

Scheme for Financing Rural/Semi Urban Housing

All loan Amounts
9.60%

Fixed ROI : Reverse Mortgage Loan (RML)

All loan Amounts
10.85%
The RoI shall be reset every five years with prevailing Fixed Rate for Five Years.

Fixed ROI: Loan for Commercial Property Purchase (LCPP) ( Fixed for 5 years)

PSL 11.85%
Non PSL 12.00%

Fixed ROI : Education Loan

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

Loan Amount Rate of interest (fixed)
Less than Rs. 50,000 5 % p.a.
Above Rs. 50,000 to Rs. 5 lakhs 6 % p.a.
Above Rs. 5 lakh to Rs. 15 lakhs 7 % p.a.
Above Rs. 15 lakhs to Rs. 30 lakhs 8 % p.a.
Above Rs. 30 lakhs to Rs. 50 lakhs 9 % p.a.

Fixed ROI : Personal Loan

ROI Range 11.00% to 15.50%

Fixed ROI : Auto loan

ROI Range 9.20% to 9.90%

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

Annual Percentage Rate (APR)

Product Approx. Annual Percentage Rate (APR)
Home Loan 8.64%
Loan Against Property 10.29%
Auto Loan 9.37%
Personal Loan 13.59%
Education Loan 9.40%
*Terms & Conditions apply