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 ₹ 100 Cr up to ₹ 1000 Cr 3.50
Above ₹ 1000 Cr to ₹ 1500 Cr MIBOR + 10 bps p.a.
Above ₹ 1500 Cr to ₹ 2000 Cr MIBOR + 40 bps p.a.
Above ₹ 2000 Cr MIBOR + 75 bps p.a.

Note:

  • MIBOR linked floating Saving Bank Rate (w.e.f December 04, 2023)
  • MIBOR Linked floating interest rate will be applicable on entire balance (all rates applicable on the end of the day balance) if the balance exceeds Rs 1000 cr. based on the slab as above.
  • For more details on the MIBOR Linked Floating Interest rate, please contact your Relationship Manager or visit your nearest IDBI Bank Branch.

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. 12-02-2024

Tenor MCLR
Overnight MCLR 8.35%
One Month MCLR (1M) 8.50%
Three Month MCLR (Q) 8.80%
Six Month MCLR (HY) 9.00%
One year MCLR (Y) 9.05%
Two Year MCLR (2Y) 9.60%
Three Year MCLR (3Y) 10.00%

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. February 15, 2024)

Following are the rates on Resident / NRO Term Deposit less than Rs. 2 Crore #.
For interest rate on NRE Term Deposit click here.
Interest Rate (% p.a.)
Retail Term Deposits (< 2 Cr)
Maturity Slab General Customers Sr. Citizen
0-6 Days NA NA
07-30 days 3.00 3.50
31-45 days 3.25 3.75
46- 60 days 4.25 4.75
61- 90 days 4.50 5.00
91 days to 6 months 5.25 5.75
6 months 1 day to 270 Days 5.75 6.25
271 days to < 1 year
(except 300 Days)
6.25 6.75
1 Year to 2 Years
(except 375 Days and 444 Days)
6.80 7.30
> 2 Years to <3years 7.00  7.50
3 years to 5 years 6.50 7.00
>5 years to 10 years 6.25 6.75
>10 years to 20 years$ 4.80  5.30
                                      Tax Saving FD
5 years 6.50 7.00

$ 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

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.

Utsav Callable FD (Valid up to March 31, 2024)

The interest rate structure is as under:

Interest Rate (% p.a.)
Special Buckets General/NRE/NRO Senior Citizens
300 Days 7.05 7.55
375 Days 7.10 7.60
444 Days 7.25 7.75

General Terms and Conditions-

  • Tenure of 300 Days not applicable for NRE Deposits.
  • Premature withdrawal / closure permitted.
  • 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.

Special Non-Callable Retail Term Deposits (w.e.f. February 15, 2024)

The interest rate structure of special Non-Callable variants:

Interest Rate (% p.a.)
Special Bucket General/NRE/NRO Senior Citizens
91 days - 6 months 5.35 5.85
6 month 1 days to 270 days 5.85 6.35
271 days < 1 Year
6.35 6.85
1 Year 7.15 7.65
>1 Year to 2 Years
(excluding 444 days)
6.95 7.45
444 Days 7.30 7.80
>2 Years to <3 Years 7.10 7.60
3 Years to 5 Years 6.60 7.10
>5 Years to 7 Years 6.35 6.85

Terms and Conditions for non-callable FD-

  • For Non-Callable Deposits- “Pre-mature withdrawal / Closure not permitted”.
  • Tenure for NRE Term Deposit is 1 Year to 7 Years for above scheme.
  • Minimum Deposit amount Rs 1,00,00,001 (above Rs One Crore) and maximum amount is less than Rs 2 Crore.
  • The premature withdrawal may be permitted in exceptional circumstance such as in the event of any direction from any judiciary /statutory and / or regulatory authorities or in case of deceased claim settlement.
  • 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

Card rates for Non-Callable Bulk Term Deposits (BTD): [w.e.f. 07.02.2024]
Maturity Slabs 2 cr.
to Rs.5
>5 Cr.
to Rs.10 cr.
>Rs 10 cr
to Rs 50 cr
>Rs 50 cr
to Rs 100 cr
>Rs 100 cr
to Rs 200 cr
>Rs 200 cr
to Rs 500 cr.
>Rs 500 cr
91 - 180 days 6.46% 6.61% 7.36% 7.36% 7.36% 7.36% 7.36%
181 – 250 days 6.61% 6.96% 7.36% 7.36% 7.36% 7.36% 7.36%
251 days - 270 days 6.76% 7.01% 7.36% 7.36% 7.36% 7.36% 7.36%
271 days to < 1 year 6.86% 7.06% 7.41% 7.41% 7.41% 7.41% 7.41%
1 year 7.01% 7.06% 7.56% 7.56% 7.56% 7.56% 7.56%
>1 year -1 year 3 mnth 7.01% 7.06% 7.56% 7.56% 7.56% 7.56% 7.56%
>1 yr 3 mnth - 2 year 7.01% 7.06% 7.26% 7.26% 7.26% 7.26% 7.26%
Additional Terms and Conditions for Non- Callable bulk deposit schem
  • Branches are advice to affix stamp on physical Confirmation of Deposit (CoD) clearly indicating the following
  • "This is a Non-Callable deposit wherein Pre-mature/ partial withdrawal is not permitted"
  • Sweep-in / Sweep-out facility is not permitted.
  • Auto renewal not allowed.
  • Pre- Mature closure / partial withdrawal are not permitted.
Card rates for Notice Bulk Term Deposits (BTD): [w.e.f. 07.02.2024]
Maturity Slabs 2 cr.
to Rs.5
>5 Cr.
to Rs.10 cr.
>Rs 10 cr
to Rs 50 cr
>Rs 50 cr
to Rs 100 cr
>Rs 100 cr
to Rs 200 cr
>Rs 200 cr
to Rs 500 cr.
>Rs 500 cr
91 - 180 days 6.39% 6.54% 7.03% 7.11% 7.11% 7.11% 7.11%
181 – 250 days 6.49% 6.84% 7.11% 7.11% 7.11% 7.11% 7.11%
251 days - 270 days 6.64% 6.89% 7.11% 7.11% 7.16% 7.16% 7.16%
271 days to < 1 year 6.74% 6.94% 7.14% 7.16% 7.21% 7.21% 7.21%
1 year 6.89% 6.94% 7.34% 7.36% 7.41% 7.41% 7.41%
>1 year -1 year 3 mnth 6.89% 6.94% 7.34% 7.36% 7.36% 7.36% 7.36%
>1 yr 3 mnth - 2 year 6.89% 6.94% 7.04% 7.06% 7.11% 7.11% 7.11%
Additional terms and conditions for Notice Bulk Term Deposits scheme:-
  • Branches are advice to affix stamp on physical confirmation of Deposit (CoD) clearly indicating the following

    “This is a Notice Bulk deposit wherein pre-mature closure is not permitted, except if 31 days’ notice submitted in advance”

  • Pre- Mature closure not allowed, except if 31 days’ notice submitted in advance.
  • Other condition remains the same as Non -Callable Bulk Term deposits
Card rates for Callable Bulk Term Deposits (BTD): (% p.a.) [w.e.f. 07.02.2024]
Maturity Slabs Rs 2 cr
to
Rs. 5 cr
>Rs 5 cr to
Rs 10 cr
>Rs 10 cr to
Rs 50 cr
>Rs 50 cr to
Rs 100 cr
>Rs 100 cr to
Rs 200 cr
>Rs 200 cr to
Rs 500 cr
>Rs 500 cr
7 – 14 days 5.26% 5.76% 5.76% 6.26% 6.26% 6.26% 6.26%
15 – 30 days 5.26% 5.76% 6.01% 6.36% 6.36% 6.36% 6.36%
31– 45 days 5.41% 5.76% 6.01% 6.51% 6.51% 6.51% 6.51%
46 – 90 days 6.36% 6.36% 6.41% 6.71% 6.71% 6.71% 6.71%
91 - 180 days 6.36% 6.51% 6.96% 6.96% 6.96% 6.96% 6.96%
181 – 250 days 6.46% 6.81% 7.11% 7.11% 7.11% 7.11% 7.11%
251 days - 270 days 6.61% 6.86% 7.11% 7.11% 7.11% 7.11% 7.11%
271 days to < 1 year 6.71% 6.91% 7.11% 7.11% 7.11% 7.11% 7.11%
1 year 6.86% 6.91% 7.31% 7.31% 7.31% 7.31% 7.31%
>1 year -1 year 3 mnth 6.86% 6.91% 7.31% 7.31% 7.31% 7.31% 7.31%
>1 yr 3 mnth - 2 year 6.86% 6.91% 7.01% 7.01% 7.01% 7.01% 7.01%
>2 yr- 36 mnth 6.61% 6.91% 7.01% 7.01% 7.01% 7.01% 7.01%
>36 mnth- 5 year 6.51% 6.76% 6.76% 6.76% 6.76% 6.76% 6.76%
>5 year- 7 year 6.51% 6.66% 6.66% 6.66% 6.66% 6.66% 6.66%
>7 year- 10 year 6.51% 6.56% 6.56% 6.56% 6.56% 6.56% 6.56%
  • Branches may take card rates for amount Rs.2 cr.to Rs.5cr.
  • Treasury consents for rates amount above Rs.5cr.
  • Branches should necessarily seek consent from Treasury (mmk.tfo@idbi.co.in) before submitting to clients. RPU/CPU teams to open such accounts only after verifying the rate approval from Treasury Front Office.
  • Acceptance of deposits of Rs.5 crore and above is at the discretion of Bank.
  • The rates are subject to revision from time to time.
  • Customers may contact the nearest branch for details/rate of interest, terms & conditions.
RBI Repo link Bulk Term Deposits (BTD)
Maturity Buckets Applicable mark-up over and above the RBI Policy Repo rate w.e.f. 15-12-2023 Effective rate considering RBI Repo @ 6.50% w.e.f. 15-12-2023 Corresponding revised regular Bulk FD rate
Current %
1 year 20bps 6.70 6.86
2 year 20 bps 6.70 6.86
3 Year 5 bps 6.55 6.61
MIBOR link Bulk Term Deposits (BTD)
Maturity (Buckets) Applicable mark-up over and above the Daily MIBOR rate (Above Rs.5 crore)w.e.f. 31-10-2023
Current
7-30 days -175 bps
31-45 days -160 bps
46-90 days -65 bps

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 Anchor Rate applicable for Quarter
  364 -Days Treasury Bill 91-Days Treasury Bill  
Apr 01-Jun 30, 2022 5.59 4.60 July 01- Sept30, 2022
Jul 01-Sept 30, 2022 6.34 5.60 Oct 01 - Dec 31, 2022
Oct 01-Dec 31, 2022 6.91 6.38 Jan 01-Mar31,2023
Jan 01-Mar31,2023 7.14 6.66 Apr 01- June 30, 2023
Apr 01- June 30, 2023 6.96 6.81 Jul 01- Sept 30, 2023
Jul 01- Sept 30, 2023 6.99 6.79 Oct 01- Dec 31, 2023
Between Oct 01- Dec 30, 2023 7.15 6.93 From Jan 01 – Mar 31,2024

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 Jan 01, 2024 – Mar 31, 2024 ( 91 -T Bill)
Tenor Anchor Rate Mark -up on average rate Effective rate for FRTD Senior Citizen
(Years) (%) (%) (%) (%)
1 6.93 0.50 7.43 7.93
2 6.93 0.50 7.43 7.93
3 6.93 0.50 7.43 7.93
5 6.93 0.40 7.33 7.83
7 6.93 0.20 7.13 7.63
10 6.93 0.20 7.13 7.63
>10 – 20 $ 6.93 0.10 7.03 7.53
B) Applicable for Existing FRTD accounts opened during August 01, 2014 to Oct 31,2018
Rates revised for period Jan 01, 2024 - Mar 31, 2024 ( 364 -T Bill)
Tenor Anchor Rate Mark -up on average rate Effective rate for FRTD Senior Citizen
(Years) (%) (%) (%) (%)
1 7.15 1.00 8.15 8.65
2 7.15 0.75 7.90 8.40
3 7.15 0.75 7.90 8.40
5 7.15 0.75 7.90 8.40
7 7.15 0.75 7.90 8.40
10 7.15 1.00 8.15 8.65
>10 – 20 7.15 0.65 7.80 8.30
C) Applicable for Existing FRTD accounts opened prior to August 01, 2014
Rates revised for period Jan 01, 2024 - Mar 31, 2024 ( 364 -T Bill)
Tenor Anchor Rate Mark -up on average rate Effective rate for FRTD Senior Citizen
(Years) (%) (%) (%) (%)
1 7.15 1.00 8.15 8.65
2 7.15 1.10 8.25 8.75
3 7.15 1.25 8.40 8.90
5 7.15 1.25 8.40 8.90
7 7.15 1.35 8.50 9.00
10 7.15 1.40 8.55 9.05

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. January 17, 2024
Normal Retail Rate 6.50
Senior Citizens 7.00

Systematic Savings Plan (SSP /SSP Plus)**** (w.e.f. January 17, 2024)

Maturity Slab Interest Rate (% p.a.)
General Customers Senior Citizens
1 Year to 2 Years 6.80 7.30
> 2 Years to <3 years 7:00 7:50
3 Years to 5 years 6.50 7.00
> 5 years to 10 years 6.25 6.75

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 = 9.10% for new loans w.e.f. February 12, 2023

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% - 10.75%
Self Employed Non-Professional *8.50% - 12.25%
*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 9.80% - 10.40%
Rural/Semi Urban Housing
Category Rate of Interest
Loan amount Up to Rs.35 Lakh Salaried/ Self Employed Professional *8.60% - 10.95%
Self Employed Non-Professional *8.70% - 12.45%
*Limited Period Offer

Loan against Property (LAP)

Loan Against Property (LAP) Rate of Interest
Residential Property *9.50% - 11.45%
Commercial Property 10.75% - 11.70%
*Limited Period Offer
Loan for Commercial Property Purchase (LCPP) Rate of Interest
10.95%-11.95%

Education Loan

Non-Vocational Courses including students who have secured admission under Management Quota
Up to Rs.7.5 lakhs (studies in India and abroad) 11.10%
Above Rs. 7.5 lakhs (studies in India) 11.10%
Above Rs. 7.5 lakhs (studies abroad and studies in Premier Institutions abroad) 10.60%
Vocational/ Skill Development Courses
All Amounts 11.00%
Loans for students studying in Premier Education Institutes (including ISB)
For all IIMs, ISB & IITs -All Amounts 8.50%
All Other Premier Institutions - All Amounts 9.10%

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 concession in applicable interest rate not to exceed 50 bps for studies abroad and 100 bps for studies in India, subject to prevailing RLLR.

Remission of 1% of interest during moratorium available for servicing of interest during the moratorium.

*Conditions apply

Personal Loan

Salary/Pension Overdraft
Pension Account with overdraft facility (For retired IDBI Staff) 10.50%
Salary / Pension Account with overdraft facility (For others) 13.25%

Loan against Securities

ROI Range 10.10% - 11.10%

Auto Loan

ROI Range 8.80%-9.60%

Fixed ROI: Home Loan

Plain Vanilla Home Loan including Rural / Semi Urban Housing Loan (Purchase/ Construction / Extension/Balance Transfer )

All loan Amounts For 3 Year Tenor For > 3 Year Tenor
  10.90% 12.00%
Plot Loan for house construction (All loan amount) Rate of Interest
12.25%

Reverse Mortgage Loan (RML) (Fixed for 5 years)

All loan Amounts
11.50%
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)

PSL 12.90%
Non PSL 13.05%

LAP-Residential (Fixed for 5 years)

PSL 12.40%
Non PSL 12.55%

LAP-Commercial & Loan against Rent Receivables (LARR) ( Fixed for 5 years)

PSL 12.65%
Non PSL 12.80%

Fixed ROI : Education Loan

All the variants of Education Loan ( Fixed for 5 years)
11.50%

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 8.80%-9.40%

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