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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. 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. 12-10-2019

Tenor

MCLR

Overnight MCLR

7.85%

One Month MCLR (1M)

8.10%

Three Month MCLR (Q)

8.20%

Six Month MCLR (HY)

8.35%

One year MCLR (Y)

8.65%

Two Year MCLR (2Y)

8.75%

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 16, 2019)
Resident Term Deposit / NRO for deposit upto less than Rs. 2 Crore #

 

Maturity Slab

Interest Rate (% p.a.)

Retail Term Deposits (< 2 Cr)

General customers

Sr. Citizen

0-6 Days

NA

NA

7-14 Days

3.50

4.00

15-30 days

4.50

5.00

31-45 days

4.75

5.25

46- 60 days

5.50

6.00

61-90 days

5.50

6.00

91-6 months

5.60

6.10

6 months 1 day - 270 days

5.90

6.40

271 days upto< 1 year

6.00

6.50

1 year

6.50

7.00

> 1 year - 2 years

6.50

7.00

>2 years to < 3 years

6.30

6.80

3 years to <  5 years

6.30

6.80

5 years

6.30

6.80

> 5 years - 7 years

6.30

6.80

>7 years - 10 years

6.30

6.80

>10 years - 20 years*

6.00

6.50

 

Tax Saving FD

5 years

6.30

6.80


 

Non callable Retail Term Deposit w.e.f. October 16, 2019)
Resident Term Deposit / NRO/NRE for deposit less than Rs. 2 Crore #

Maturity Slab

General Interest Rate
(% p.a.)

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

1 year

6.60

7.10

>1 year to 2 years

6.60

7.10

>2 years to < 3 years

6.40

6.90

3 years to < 5 years

6.45

6.95

5 years

6.50

7.00

> 5 years - 7years

6.55

7.05


Terms and Conditions for Non-Callable Option:

  1. Deposit Amount : Minimum – Rs.15,00,001 less than Rs. 2 Crore
  2. Pre-mature closure is not permitted.
  3. Overdraft/ Loan is allowed upto 90% of the outstanding Deposit Amount.
  4. Capital Gain and Recurring Deposits are not permitted under this scheme.
  5. Sweep-in / Sweep-out facility is not permitted under this scheme.
  6. Auto-renewal not allowed under this scheme.

General Terms & Conditions:

  • Tenure for NRO Term Deposit is 07 days to10 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. 

Floating Rate Term Deposit

ANCHOR RATE DETAILS (Applicable to FRTD opened wef November 1,2018)

Average of Weighted Avg. Yield of 91 days Treasury Bill Auction undertaken by RBI for Quarter

Anchor Rate (%)

Anchor Rate for Quarter

Between  Jul 1 - Sep 30, 2018

6.77

Between  Nov 1 - Dec 31, 2018

Between  Oct1 - Dec 31, 2018

6.83

Between  Jan 1 - March 31, 2019

Between  Jan 1 - March 31, 2019

6.47

Between  Apr 1 - June 30, 2019

Between  Apr 1 - June 30, 2019

6.24

Between  July1 - September 30, 2019

Between  July1 - September 30, 2019

5.55

Between October1 - December 31, 2019

ANCHOR RATE DETAILS (Applicable to FRTD opened prior to November 1,2018)

Average of Weighted Avg. Yield of 364 days Treasury Bill Auction undertaken by RBI for Quarter

Anchor Rate (%)

Anchor Rate for Quarter

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

Between  Oct 1 - Dec 31, 2018

7.31

Between  Jan 1 - March 31, 2019

Between  Jan 1 - March 31, 2019

6.64

Between  Apr 1 - June 30, 2019

Between  Apr 1 - June 30, 2019

6.34

Between  July 1 - September 30, 2019

Between  July 1 - September 30, 2019

5.82

Between  October 1 -December 31, 2019



 

A) Applicable  for New & Renewal of  Existing FRTD account opened after Nov 01,2018

RATE APPLICABLE FROM Oct 01, 2019 to Dec 31, 2019 ( 91 -T Bill)

Tenor

Anchor Rate

Mark -up on the average rate

Effective rate for FRTD rate

Senior Citizen

(Years)

(%)

(%)

(%)

(%)

1

5.55

0.50

6.05

6.55

2

5.55

0.50

6.05

6.55

3

5.55

0.50

6.05

6.55

5

5.55

0.40

5.95

6.45

7

5.55

0.20

5.75

6.25

10

5.55

0.20

5.75

6.25

>10 – 20

5.55

0.10

5.65

6.15

 

B) Applicable  for Existing FRTD account opened during  August 01, 2014 to Oct 31,2018

RATE APPLICABLE FROM October 01, 2019 to Dec 31, 2019 ( 364 -T Bill)

Tenor

Anchor Rate

Mark -up on the average rate

Effective rate for FRTD rate

Senior Citizen

(Years)

(%)

(%)

(%)

(%)

1

5.82

1.00

6.82

7.32

2

5.82

0.75

6.57

7.07

3

5.82

0.75

6.57

7.07

5

5.82

0.75

6.57

7.07

7

5.82

0.75

6.57

7.07

10

5.82

1.00

6.82

7.32

>10 – 20

5.82

0.65

6.47

6.97


C) Applicable  for Existing FRTD account opened prior to August 01, 2014

RATE APPLICABLE FROM Oct 01, 2019 to Dec 31, 2019 ( 364 -T Bill)

Tenor

Anchor Rate

Mark -up on the average rate

Effective rate for FRTD rate

Senior Citizen

(Years)

(%)

(%)

(%)

(%)

1

5.82

1.00

6.82

7.32

2

5.82

1.10

6.92

7.42

3

5.82

1.25

7.07

7.57

5

5.82

1.25

7.07

7.57

7

5.82

1.35

7.17

7.67

10

5.82

1.40

7.22

7.72

>10 – 20

5.82

1.40

7.22

7.72



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 as per prevalent rules & regulations.
    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.
    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 16,2019

Normal Retail Rate

6.30

Senior Citizens

6.80

Recurring Deposits **** (w.e.f. fOctober 16, 2019)

 

Maturity Slab

Interest Rate (% p.a.)

NORMAL

SR. CITIZEN

 

1 year

6.50

7.00

> 1 year - 2 years

6.50

7.00

>2 years < 3 years

6.30

6.80

3 years to < 5 years

6.30

6.80

5 years

6.30

6.80

> 5 years - 7 years

6.30

6.80

>7 years - 10 years

6.30

6.80

**** 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. 2 crore and above, upto Rs. 5 crore (w.e.f. October 16, 2019)

Maturity Slabs

Rate of Interest (% p.a.)

0-6 Days

NA

7-14 Days

3.50

15-30 days

4.50

31-45 days

4.75

46- 60 days

5.50

61-90 days

5.50

91-6 months

5.60

6 months 1 day - 270 days

5.90

271 days upto< 1 year

6.00

1 year

6.50

> 1 year - 2 years

6.50

>2 years to < 3 years

6.30

3 years to <  5 years

6.30

5 years

6.30

> 5 years - 7 years

6.30

>7 years - 10 years

6.30

>10 years - 20 years

6.00


Penalty for Premature Closure of Bulk Deposits
:
For Deposit of Rs. 2 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

2. For Bulk Deposits of above Rs. 5 crore

A

Bulk Deposits (Fixed Rate)

Please contact our nearest branch for rate of interest and terms

B

RBI Policy Repo Rate Linked Bulk Deposits
(Non-Callable)

 

 
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

Floating Rate Loans linked to Repo Linked Lending Rate (RLLR) (w.e.f Oct 01, 2019)
Current RLLR = 8.50%

Plain Vanilla Home Loan

Category

Rate of Interest

Salaried

8.50% - 8.85%

Self Employed

8.60% - 9.05%


Home loan Top Up

Housing purpose

HL ROI + 20 bps

Non Housing purpose

HL ROI + 30 bps


IDBI Neev

Rate of Interest

9.20% - 9.55%


IDBI Neev 2.0

Rate of Interest

9.50% - 9.85%


Loan Against Property (LAP)

Rate of Interest

Residential

10.30% - 10.65%

Commercial

10.55% - 10.90%


Loan For Commercial Property Purchase (LCPP)

Rate of Interest

11.05% - 11.15%


Auto Loan

Credit vision score

Floating ROI

801 and above

9.10%

776 to 800

9.20%

741 to 775

9.30%

700 to 740

9.70%

-1

9.70%

Below 700

N A

Non individual borrower

9.70%


Personal Loan and its variants



Personal Loan Overdraft (Floating)

Pension Account with overdraft facility (For retired IDBI Staff)

9.90%

Salary / Pension Account with overdraft facility(For others)

12.65%


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%

FIXED RATE LOANS

  1. Home Loan

All loan Amounts

For 3 Year Tenor

For > 3 Year Tenor

10.25%

10.50%

  1. IDBI NEEV ( Plot Loan for House Construction)

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
Four Wheeler (only for new vehicles)

Four Wheeler:

CIBIL Score

Rate of Interest

801 and above

9.20%

776 to 800

9.30%

741 to 755

9.40%

700 to 740

9.80%

-1

9.80%

Below 700

Cases not to be considered

Non-Individual Borrower

9.80%

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

Existing customer (at least 3 months relationship)

9.80%

New customer

9.90%

  1. Personal Loan and its variants

CIBIL Score Range

Payroll Accounts

All Other Salaried Customer

SEP/SENP having Asset /Liability Relationship

801 and above

12.00%

12.25%

13.00%

751 to 800

12.25%

12.50%

13.50%

700 to 750

13.25%

13.50%

14.00%

-1 and 1 to 5

13.25%

Cases not to be considered

Below 700

Cases not to be considered



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
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