|
|
| 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. November 18 ,2020) |
Saving Balance |
Rate of Interest (% p.a.) |
Less than Rs. 50 lakh |
3.00% |
Rs. 50 lakh and above |
3.50% |
|
| With effect from February 1,2021, Interest Rate on Savings Deposits will be 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% |
|
Tenor |
MCLR |
Overnight MCLR |
7.05% |
One Month MCLR (1M) |
7.15% |
Three Month MCLR (Q) |
7.20% |
Six Month MCLR (HY) |
7.40% |
One year MCLR (Y) |
7.75% |
Two Year MCLR (2Y) |
8.15% |
Three Year MCLR (3Y) |
8.60% |
|
|
| 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 |
| 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 |
2.70 |
3.20 |
15-30 days |
2.70 |
3.20 |
31-45 days |
2.80 |
3.30 |
46- 60 days |
3.00 |
3.50 |
61-90 days |
3.00 |
3.50 |
91-6 months |
3.50 |
4.00 |
6 months 1 day to 270 days |
4.30 |
4.80 |
271 days upto< 1 year |
4.30 |
4.80 |
1 year |
4.90 |
5.40 |
> 1 year - 2 years |
5.00 |
5.50 |
>2 years to < 3 years |
5.10 |
5.60 |
3 years to to < 5years |
5.25 |
5.75 |
5 years |
5.25 |
5.75 |
> 5 years - 7 years |
5.25 |
5.75 |
>7 years - 10 years |
5.25 |
5.75 |
>10 years - 20 years$ |
4.80 |
5.30 |
|
Tax Saving FD |
5 years |
5.25 |
5.75 |
|
|
$ Maturity bucket is eligible only for deposits from following beneficiaries (with effect from January 1st, 2021).
- Awards from Motor Accident Tribunal / Courts / Other Judicial/ Statutory Bodies
- Specific Cases of margin money for Bank Guarantees
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 FRTDs 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 applicable for Quarter |
Jan 1 - Mar 31, 2019 |
6.47 |
Apr 1 - Jun 30, 2019 |
Apr 1 - Jun 30, 2019 |
6.24 |
Jul 1 - Sept 30, 2019 |
Jul1 - Sept 30, 2019 |
5.55 |
Oct1 - Dec 31, 2019 |
Oct1 - Dec 31, 2019 |
5.05 |
Jan 1-Mar 31,2020 |
Jan 1-Mar 31,2020 |
5.00 |
Apr 01-Jun 30,2020 |
Apr 01-Jun 30,2020 |
3.54 |
Jul 01-Sept 30,2020 |
Jul 01-Sept 30,2020 |
3.24 |
Oct 01-Dec 31,2020 |
Oct 01-Dec 31,2020 |
3.12 |
Jan 01-Mar 31,2021 |
Between Jan 01-Mar 31, 2021 |
3.27 |
Apr 01-Jun 30, 2021 |
|
ANCHOR RATE DETAILS (Applicable to FRTD opened up to October,2018) |
Average of Weighted Avg. Yield of 364-Days Treasury Bill Auction undertaken by RBI for Quarter |
Anchor Rate (%) |
Anchor Rate applicable for Quarter |
Jan 1 - Mar 31, 2019 |
6.64 |
Apr 01 - June 30, 2019 |
Apr 1 - Jun 30, 2019 |
6.34 |
Jul 01 - Sep 30, 2019 |
Jul 1 - Sept 30, 2019 |
5.82 |
Oct 01 - Dec 31, 2019 |
Oct 1 - Dec 31, 2019 |
5.27 |
Jan 01 - Mar 31, 2020 |
Jan 1 - Mar 31, 2020 |
5.22 |
Apr 01 - Jun 30, 2020 |
Apr 1 - Jun 30, 2020 |
3.77 |
Jul 01 - Sep 30, 2020 |
Jul 1 - Sep 30, 2020 |
3.54 |
Oct 01 - Dec 31, 2020 |
Oct 1 - Dec 31, 2020 |
3.45 |
Jan 01 - Mar 31, 2021 |
Between Jan 01-Mar 31,2021 |
3.71 |
Apr 01 - Jun 30,2021 |
|
| |
A) Applicable for New & Renewal of Existing FRTD accounts opened after Nov 01,2018 |
With effect from April 01, 2021 to June 30, 2021 ( 91 -T Bill) |
Tenor |
Anchor Rate |
Mark -up on average rate |
Effective rate for FRTD |
Senior Citizen |
(Years) |
(%) |
(%) |
(%) |
(%) |
1 |
3.27 |
0.50 |
3.77 |
4.27 |
2 |
3.27 |
0.50 |
3.77 |
4.27 |
3 |
3.27 |
0.50 |
3.77 |
4.27 |
5 |
3.27 |
0.40 |
3.67 |
4.17 |
7 |
3.27 |
0.20 |
3.47 |
3.97 |
10 |
3.27 |
0.20 |
3.47 |
3.97 |
>10 – 20 $ |
3.27 |
0.10 |
3.37 |
3.87 |
|
B) Applicable for Existing FRTD accounts opened during August 01, 2014 to Oct 31,2018 |
Rate with effect from April 01, 2021 to June 30, 2021 ( 364 -T Bill) |
Tenor |
Anchor Rate |
Mark -up on average rate |
Effective rate for FRTD |
Senior Citizen |
(Years) |
(%) |
(%) |
(%) |
(%) |
1 |
3.71 |
1.00 |
4.71 |
5.21 |
2 |
3.71 |
0.75 |
4.46 |
4.96 |
3 |
3.71 |
0.75 |
4.46 |
4.96 |
5 |
3.71 |
0.75 |
4.46 |
4.96 |
7 |
3.71 |
0.75 |
4.46 |
4.96 |
10 |
3.71 |
1.00 |
4.71 |
5.21 |
>10 – 20 |
3.71 |
0.65 |
4.36 |
4.86 |
|
C) Applicable for Existing FRTD accounts opened prior to August 01, 2014 |
Rate with effect from January 01, 2021 to March 31, 2021 ( 364 -T Bill) |
Tenor |
Anchor Rate |
Mark -up on average rate |
Effective rate for FRTD |
Senior Citizen |
(Years) |
(%) |
(%) |
(%) |
(%) |
1 |
3.71 |
1.00 |
4.71 |
5.21 |
2 |
3.71 |
1.10 |
4.81 |
5.31 |
3 |
3.71 |
1.25 |
4.96 |
5.46 |
5 |
3.71 |
1.25 |
4.96 |
5.46 |
7 |
3.71 |
1.35 |
5.06 |
5.56 |
10 |
3.71 |
1.40 |
5.11 |
5.61 |
|
| |
|
w.e.f. April 16, 2021 |
Normal Retail Rate |
5.25 |
Senior Citizens |
5.75 |
|
|
Maturity Slab |
Interest Rate (% p.a.) |
NORMAL |
SR. CITIZEN |
1 year |
4.90 |
5.40 |
> 1 year - 2 years |
5.00 |
5.50 |
>2 years to < 3 years |
5.10 |
5.60 |
3 years to < 5 years |
5.25 |
5.75 |
5 years |
5.25 |
5.75 |
> 5 years - 7 years |
5.25 |
5.75 |
>7 years - 10 years |
5.25 |
5.75 |
|
|
Maturity Slabs |
Rate of Interest (% p.a.) |
0-6 Days |
NA |
07-14 days |
2.50 |
15-30 days |
2.50 |
31-45 days |
2.75 |
46- 60 days |
2.75 |
61-90 days |
2.90 |
91-6 months |
2.90 |
6 months 1 day to 270 days |
3.00 |
271 days upto< 1 year |
3.10 |
1 year |
3.50 |
> 1 year - 2 years |
3.50 |
>2 years to < 3 years |
3.75 |
3 years to < 5 years |
3.75 |
5 years |
3.75 |
> 5 years - 7 years |
3.75 |
>7 years - 10 years |
3.75 |
|
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) |
|
| |
|
| Please contact our nearest branch for rate of interest and terms. |
| Retail Loans |
Interest Rate structure for Structured Retail Asset (SRA) Products
|
| RLLR SRA =6.90% for new loans w.e.f December 12, 2020 |
| |
Plain Vanilla Home Loan |
Category |
Rate of Interest |
Salaried/Self Employed Professional |
6.90% - 8.40% |
Self Employed Non-Professional |
7.15% - 9.90% |
Limited Period Offer*- 10 bps concession to women borrowers |
*Conditions Apply
Home loan Top Up |
Housing purpose |
HL ROI + 40 bps |
Suvidha Top up (Non Housing purpose) |
HL ROI + 75 bps |
Home loan Interest Saver |
Salaried/Self Employed Professional |
7.30%-8.80% |
Self Employed Non-Professional |
7.55%-10.30% |
IDBI Neev
(Plot Loan for House Construction) |
Rate of Interest |
7.60% - 8.20% |
IDBI Neev 2.0
(Plot Loan for House Construction) |
Rate of Interest |
7.90% - 8.50% |
Loan Against Property (LAP) |
Rate of Interest |
Residential Property |
8.25% - 9.25% |
Commercial Property |
8.75% - 9.50% |
LAP - Mortgage loan Interest Saver |
Rate of Interest |
Residential Property |
8.55% - 9.55% |
Commercial Property |
9.05% - 9.80% |
Loan for Commercial Property Purchase (LCPP) |
Rate of Interest |
8.95% - 9.75% |
Auto Loan |
Credit vision score |
Floating ROI |
801 and above |
7.50% |
776 to 800 |
7.60% |
741 to 775 |
7.70% |
700 to 740 |
8.10% |
-1 |
8.10% |
Below 700 |
N A |
Non individual borrower |
8.10% |
Personal Loan and its variants
Personal Loan Overdraft (Floating)
|
Pension Account with overdraft facility (For retired IDBI Staff) |
8.30% |
Salary / Pension Account with overdraft facility (For others) |
11.05% |
Education Loan
Non-Vocational Courses including students who have secured admission under Management Quota
|
Up to Rs.7.5 lakhs |
8.40% |
Above Rs. 7.5 lakhs |
8.90% |
Vocational/ Skill Development Courses |
All Amounts |
8.80% |
Loans for students studying in Premier Education Institutes (including ISB) |
All Amounts |
6.90 % |
Loan against Securities |
Rate of Interest |
7.90% - 8.90% |
|
- Home Loan
|
All loan Amounts |
For 3 Year Tenor |
For > 3 Year Tenor |
9.85% |
10.10% |
- IDBI NEEV ( Plot Loan for House Construction)
|
Sanction Amount |
RoI |
Up to ₹ 35 lakh |
10.00% |
Above ₹ 35 lakh |
10.25%
|
- Scheme for Financing Rural/Semi Urban Housing
|
All loan Amounts |
9.60% |
- Reverse Mortgage Loan (RML)
|
All loan Amounts |
10.85% |
- 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 |
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 |
|
- 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 with IDBI Bank |
Employees of Central/State Government/ Public Sector Undertaking/
MNCs not having payroll/salary account with IDBI Bank |
All other Salaried employees |
Self Employed Professionals
(SEP) having Asset/Liability relationship with IDBI Bank |
Self Employed Non Professionals
(SENP) having Asset/Liability relationship with IDBI Bank |
801 &above |
9.50% |
10.00% |
12.00% |
12.25% |
12.50% |
776 to 800 |
9.75% |
10.25% |
12.25% |
12.75% |
13.00% |
740 to 775 |
10.75% |
11.25% |
13.25% |
13.75% |
14.00% |
700 to 739* |
11.75% |
12.25%# |
N.A. |
-1 |
10.75% |
N.A. |
Concession:
- Discount of 50 bps applicable on the above slabs for HL & LAP borrowers with clear repayment track in last 2 years (Not available for Pre-EMI cases), subject to minimum ROI of 9.50% p.a.
|
- *Score below 740 up to 700 is considered only forCorporate Payroll/Salary relationship, pension accounts, LIC and its subsidiaries staff and IDBI Bank staff.
- #ROI for LIC and its subsidiaries staff not having payroll/salary account with IDBI Bank with score below 740 up to 700.
|
|
|
|
|
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
|
|
|
|
|
