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. July 14 ,2021)

Saving Balance Rate of Interest (% p.a.)
Upto Rs. 50 lakh 3.00
Above Rs.50 lakh up to Rs.5 Crs 3.25
Above Rs. 5 Crs 3.35

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. 12-10-2021

Tenor MCLR
Overnight MCLR 7.00%
One Month MCLR (1M) 7.05%
Three Month MCLR (Q) 7.10%
Six Month MCLR (HY) 7.30%
One year MCLR (Y) 7.65%
Two Year MCLR (2Y) 8.10%
Three Year MCLR (3Y) 8.60%

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. August 16, 2021)

Resident Term Deposit / NRO for deposit less than Rs. 2 Crore #
Interest Rate (% p.a.)
Retail Term Deposits (< 2 Cr)
Maturity Slab 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 5.05 5.55
> 1 year - 2 years 5.15 5.65
>2 years to < 3 years 5.20 5.70
3 years to to < 5years 5.40 5.90
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).

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 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
Jan 01-Mar 31, 2021 3.27 Apr 01-Jun 30, 2021
Between Apr 01-June 30,2021 3.39 Jul01-Sept 30,2021
ANCHOR RATE DETAILS (Applicable to FRTD opened up to October,2018)
Average of Weighted Avg.
Yield of 364-Days Treasury Bill
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-Mar31,2021
Jan 01-Mar 31,2021 3.71 Apr 01 - Jun 30,2021
Between Apr 01-June 30,2021 3.77 Jul 01-Sept 30,2021
A) Applicable for New & Renewal of Existing FRTD accounts opened after Nov 01,2018
With effect from July 01, 2021 to Sept 30, 2021 ( 91 -T Bill)
Tenor (Years) Anchor Rate (%) Mark -up on average rate (%) Effective rate for FRTD(%) Senior Citizen (%)
1 3.39 0.50 3.89 4.39
2 3.39 0.50 3.89 4.39
3 3.39 0.50 3.89 4.39
5 3.39 0.40 3.79 4.29
7 3.39 0.20 3.59 4.09
10 3.39 0.20 3.59 4.09
>10 – 20 $ 3.39 0.10 3.49 3.99
B) Applicable for Existing FRTD accounts opened during August 01, 2014 to Oct 31,2018
Rate with effect from July 01, 2021 to Sept 30, 2021( 364 -T Bill)
Tenor (Years) Anchor Rate (%) Mark -up on average rate (%) Effective rate for FRTD(%) Senior Citizen (%)
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 accounts opened prior to August 01, 2014
Rate witheffect from July 01, 2021 to Sept 30, 2021( 364 -T Bill)
Tenor (Years) Anchor Rate (%) Mark -up on average rate (%) Effective rate for FRTD(%) Senior Citizen (%)
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

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 tenorless 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. August 16, 2021
Normal Retail Rate 5.25
Senior Citizens 5.75

Systematic Savings Plan (SSP /SSP Plus)**** (w.e.f. August 16, 2021)

Maturity Slab Interest Rate (% p.a.)
NORMAL SR. CITIZEN

1 year

5.05 5.55

> 1 year - 2 years

5.15 5.65

>2 years to < 3 years

5.20 5.70

3 years to to < 5years

5.40 5.90

5 years

5.25 5.75

> 5 years - 7 years

5.25 5.75

>7 years - 10 years

5.25 5.75

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.

1. For Bulk Deposits of Rs. 2 crore and above, upto Rs. 5 crore (w.e.f. April 16 2021)

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

Bulk Deposits (Fixed Rate) Please contact our nearest branch for rate of interest and terms
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 =6.75% for new loans w.e.f September 24, 2021
Plain Vanilla Home Loan
Category Rate of Interest
Salaried/Self Employed Professional 6.75%* - 8.40%
Self Employed Non-Professional 6.85%* - 9.90%
Limited Period Offer*- Conditions Apply
Home loan Top Up
Housing purpose HL ROI + 20 bps*
Suvidha Top up (Non Housing purpose) HL ROI + 75 bps
Limited Period Offer*- Conditions Apply
IDBI Neev
(Plot Loan for House Construction)
Rate of Interest
7.45% - 8.05%
IDBI Neev 2.0
(Plot Loan for House Construction)
Rate of Interest
7.75% - 8.35%
Loan Against Property (LAP) Rate of Interest
Residential Property 8.10% - 9.10%
Commercial Property 8.60% - 9.35%
Loan for Commercial Property Purchase (LCPP)
Rate of Interest 8.80% - 9.60%
Auto Loan
Credit vision score Floating ROI
801 and above 7.35%
776 to 800 7.45%
741 to 775 7.55%
700 to 740 7.95%
-1 7.95%
Below 700 N A
Non individual borrower 7.95%
Personal Loan and its variants
Personal Loan Overdraft (Floating)
Pension Account with overdraft facility (For retired IDBI Staff) 8.15%
Salary / Pension Account with overdraft facility (For others) 10.90%
Education Loan
Non-Vocational Courses including students who have secured admission under Management Quota
Up to Rs.7.5 lakhs 8.25%
Above Rs. 7.5 lakhs 8.75%
Vocational/ Skill Development Courses
All Amounts 8.65%
Loans for students studying in Premier Education Institutes (including ISB)
All Amounts 6.75 %
Loan against Securities
Rate of Interest 7.75% - 8.75%

Fixed Rate Loans 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 Rs. 35 lakh 10.00%
Above Rs. 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
A 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 N A
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% N.A. 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.
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