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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. June 11, 2020)

Saving Balance

Rate of Interest

Upto Rs. 25 lakh

3.30 % p.a

Above Rs. 25 lakh

3.80 % 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. 12-06-2020

Tenor

MCLR

Overnight MCLR

7.60%

One Month MCLR (1M)

7.80%

Three Month MCLR (Q)

7.90%

Six Month MCLR (HY)

8.00%

One year MCLR (Y)

8.30%

Two Year MCLR (2Y)

8.55%

Three Year MCLR (3Y)

8.80%

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. June 15 2020)
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

07-14 days

3.00

3.50

15-30 days

3.75

4.25

31-45 days

3.75

4.25

46- 60 days

4.60

5.10

61-90 days

4.60

5.10

91-6 months

4.75

5.25

6 months 1 day to 270 days

5.00

5.50

271 days upto< 1 year

5.25

5.75

1 year

5.70

6.20

> 1 year - 2 years

5.75

6.25

>2 years to < 3 years

5.70

6.20

3 years to to < 5years

5.70

6.30 #

5 years

5.80

6.40 #

> 5 years - 7 years

5.70

6.30 #

>7 years - 10 years

5.70

6.20

>10 years - 20 years*

5.50

6.00

 

                                    Tax Saving FD

5 years

5.80

6.40 #

# IDBI Naman Senior Citizen Deposit.

# IDBI Naman Senior Citizen Deposit:

  • Scheme Benefit: Resident Senior citizen customers will get an additional interest rate of 0.10% for limited period over and above existing additional rate of 0.50% per annum.
  • Eligible RTD tenures: 3 years up to 7 years
  • Scheme Period: 15th June, 2020 to 30th September, 2020
  • Scheme Cover: The additional rate benefit 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.

Non callable Retail Term Deposit   w.e.f. June 15 2020
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

5.80

6.30

>1 year to 2 years

5.85

6.35

>2 years to < 3 years

5.80

6.30

3 years to <  5 years

5.85

6.35

5 years

6.00

6.50

> 5 years - 7years

5.95

6.45


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

Between October1 - December 31, 2019

5.05

Between January 1-March 31,2020

Between January 1-March 31,2020

5.00

Between April 01-June 30,2020

Between April 01-June 30,2020

3.54

Between July 01-Septemeber 30,2020

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

Between  October 1 -December 31, 2019

5.27

Between January 1-March 31,2020

Between January 1-March 31,2020

5.22

Between April 01-June 30,2020

Between April 01-June 30,2020

3.77

Between  July 01-September 30,2020



 

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

RATE APPLICABLE FROM July 01, 2020 to September 30, 2020 ( 91 -T Bill)

Tenor

Anchor Rate

Mark -up on the average rate

Effective rate for FRTD rate

Senior Citizen

(Years)

(%)

(%)

(%)

(%)

1

3.54

0.50

4.04

4.54

2

3.54

0.50

4.04

4.54

3

3.54

0.50

4.04

4.54

5

3.54

0.40

3.94

4.44

7

3.54

0.20

3.74

4.24

10

3.54

0.20

3.74

4.24

>10 – 20

3.54

0.10

3.64

4.14

 

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

RATE APPLICABLE FROM July 01, 2020 to September 30, 2020 ( 364 -T Bill)

Tenor

Anchor Rate

Mark -up on the average rate

Effective rate for FRTD rate

Senior Citizen

(Years)

(%)

(%)

(%)

(%)

1

3.77

1.00

4.77

5.27

2

3.77

0.75

4.52

5.02

3

3.77

0.75

4.52

5.02

5

3.77

0.75

4.52

5.02

7

3.77

0.75

4.52

5.02

10

3.77

1.00

4.77

5.27

>10 – 20

3.77

0.65

4.42

4.92


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

RATE APPLICABLE FROM July 01, 2020 to September 30, 2020 ( 364 -T Bill)

Tenor

Anchor Rate

Mark -up on the average rate

Effective rate for FRTD rate

Senior Citizen

(Years)

(%)

(%)

(%)

(%)

1

3.77

1.00

4.77

5.27

2

3.77

1.10

4.87

5.37

3

3.77

1.25

5.02

5.52

5

3.77

1.25

5.02

5.52

7

3.77

1.35

5.12

5.62

10

3.77

1.40

5.17

5.67

>10 – 20

3.77

1.40

5.17

5.67



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. April 01,2020

Normal Retail Rate

5.90

Senior Citizens

6.40

Systematic Savings Plan (SSP /SSP Plus)**** (w.e.f. June 15, 2020)

 Maturity Slab

Interest Rate (% p.a.)

NORMAL

SR. CITIZEN

1 year

       5.70

6.20

> 1 year - 2 years

       5.75

6.25

>2 years to < 3 years

       5.70

6.20

3 years to < 5 years

       5.70

6.30 #

5 years

       5.80

6.40 #

> 5 years - 7 years

       5.70

6.30 #

>7 years - 10 years

       5.70

6.20


# IDBI Naman Senior Citizen Deposit.

**** No interest shall be paid if Systematic Savings Plan (SSP/SSP Plus) is discontinued before three months. If SSP /SSP Plus 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 SSP/SSP Plus by Sr. Citizen, the additional 50bps applicable to Sr. Citizen shall be made available provided the SSP/SSP Plus 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. June 15 2020)

Maturity Slabs

Rate of Interest (% p.a.)

0-6 Days

NA

07-14 days

3.10

15-30 days

3.25

31-45 days

3.50

46- 60 days

3.50

61-90 days

3.50

91-6 months

3.50

6 months 1 day to 270 days

3.75

271 days upto< 1 year

4.00

1 year

4.25

> 1 year - 2 years

4.25

>2 years to < 3 years

4.25

3 years to < 5 years

4.25

5 years

4.25

> 5 years - 7 years

4.25

>7 years - 10 years

4.25


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)
RLLR SRA = 7.50% for existing loans w.e.f April 12, 2020.
RLLR SRA = 7.80% for new loans w.e.f April 12, 2020.

Balance Transfer Plain Vanilla Home Loan (HL)- W.e.f June 18, 2020 -

Category

Rate of Interest

Salaried/Self Employed Professional

7.80% - 7.95%


Regular Floating Rate Loans
 

Plain Vanilla Home Loan (HL)

Category

Rate of Interest

Salaried/Self Employed Professional

7.80% - 8.40%

Self Employed Non-Professional

8.00% - 8.80%


Home loan Top Up

Housing purpose

HL ROI + 40 bps

Non Housing purpose

HL ROI + 50 bps


Home loan Interest Saver

Salaried/Self Employed Professional

8.30%-8.90%

Self Employed Non-Professional

8.50%-9.30%


IDBI Neev
(Plot Loan for House Construction)

Rate of Interest

8.50% - 9.10%


IDBI Neev 2.0
(Plot Loan for House Construction)

Rate of Interest

8.80% - 9.40%


Loan Against Property (LAP)

Rate of Interest

Residential

9.40% -10.05%

Commercial

9.65% -10.30%


Loan For Commercial Property Purchase (LCPP)

Rate of Interest

10.15% - 10.25%


Auto Loan

Credit vision score

Floating ROI

801 and above

8.40%

776 to 800

8.50%

741 to 775

8.60%

700 to 740

9.00%

-1

9.00%

Below 700

N A

Non individual borrower

9.00%

Personal Loan and its variants


Personal Loan Overdraft (Floating)

Pension Account with overdraft facility (For retired IDBI Staff)

9.20%

Salary / Pension Account with overdraft facility (For others)

11.95%

Education Loan


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

Up to Rs.7.5 lakhs

9.30%

Above Rs. 7.5 lakhs

9.80%

Vocational/ Skill Development Courses

All Amounts

9.70%

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

All Amounts

7.80 %

FIXED RATE LOANS

  1. Home Loan

All loan Amounts

For 3 Year Tenor

For > 3 Year Tenor

9.85%

10.10%

  1. IDBI NEEV ( Plot Loan for House Construction)

Sanction Amount

RoI

Up to ₹ 35 lakh

10.00%

Above  ₹ 35 lakh

10.25%

 

  1. Scheme for Financing Rural/Semi Urban Housing

All loan Amounts

9.60%

  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

 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

Rebate: A rebate of 1% in interest will be allowed to women with disabilities. The rebate will be borne by NHFDC.

 

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

Credit vision score
Rate of Interest
801 and above 9.20%
776 to 800 9.30%
741 to 775 9.40%
700 to 740 9.80%
-1 9.80%
Below 700 NA
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%
    Personal Loan-Fixed
Credit vision score Payroll / Salary / Pension Accounts All other salaried customers SEP / SENP
801 and above 12.00% 12.25 13.00
776 to 800 12.25% 12.50 13.50
740 to 775 13.25% 13.50 14.00
700 to 739 applicable only for corporate relationships: LIC and its subsidiaries staff, Payroll / Salary relationship, pension accounts, IDBI bank Staff) 13.50% NA
Below 700 NA
-1 13.25% NA



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