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 Rs. 100 Cr 3.50

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. 12-11-2023

Tenor MCLR
Overnight MCLR 8.25%
One Month MCLR (1M) 8.40%
Three Month MCLR (Q) 8.70%
Six Month MCLR (HY) 8.90%
One year MCLR (Y) 8.95%
Two Year MCLR (2Y) 9.50%
Three Year MCLR (3Y) 9.90%

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. November 12, 2023)

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- 90 days 4.00 4.50
91 days to 6 months 4.50 5.00
6 months 1 day to 270 Days 5.75 6.25
271 days to < 1 year 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.

Festive Offer Extension of ‘Utsav FD’ for 375 Days and 444 Days up to December 31, 2023

The interest rate structure is as under:

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

General Terms and Conditions-

  • 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.

The Interest rate structure of special limited period offers of Non-Callable...

The interest rate structure of special limited period offers of Non-Callable variants:

Interest Rate (% p.a.)
Special Bucket General/NRE/NRO Senior Citizens
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”.
  • 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. 04.12.2023]
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% 7.11% 7.11% 7.16% 7.16% 7.16%
181 – 250 days 6.61% 6.96% 7.26% 7.26% 7.31% 7.31% 7.31%
251 days - 270 days 6.76% 7.01% 7.26% 7.26% 7.31% 7.31% 7.31%
271 days to < 1 year 6.86% 7.06% 7.31% 7.31% 7.36% 7.36% 7.36%
1 year 7.01% 7.06% 7.56% 7.56% 7.61% 7.61% 7.61%
>1 year -1 year 3 mnth 7.01% 7.06% 7.56% 7.56% 7.61% 7.61% 7.61%
>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
    This is a Non-Callable deposit wherein Pre-mature/ partial withdrawal is not permitted
  • Sweep-in / Sweep-out facility is not permitted under this scheme.
  • Auto renewal not allowed under this scheme.
  • Pre- Mature closure / partial withdrawal are not permitted.
Card rates for Callable Bulk Term Deposits (BTD): (% p.a.) [w.e.f. 04.12.2023]
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 5.11% 5.26% 5.26% 5.26% 5.26% 5.26% 5.26%
15 – 30 days 5.16% 5.66% 5.66% 5.66% 5.66% 5.66% 5.66%
31– 45 days 5.31% 5.66% 5.76% 5.76% 5.76% 5.76% 5.76%
46 – 90 days 6.26% 6.36% 6.36% 6.36% 6.36% 6.41% 6.41%
91 - 180 days 6.36% 6.51% 6.86% 6.86% 6.86% 6.86% 6.86%
181 – 250 days 6.46% 6.81% 7.01% 7.06% 7.06% 7.06% 7.26%
251 days - 270 days 6.61% 6.86% 7.01% 7.06% 7.06% 7.06% 7.26%
271 days to < 1 year 6.71% 6.91% 7.01% 7.11% 7.11% 7.11% 7.26%
1 year 6.86% 6.91% 7.26% 7.26% 7.31% 7.31% 7.31%
>1 year -1 year 3 mnth 6.86% 6.91% 7.26% 7.26% 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%
  • 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. 13-11-2023 Effective rate considering RBI Repo @ 6.50% w.e.f. 13-11-2023  
Current %
1 year 20 bps 6.70
2 year 20 bps 6.70
3 Year 1 bps 6.51
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 -180 bps
31-45 days -160 bps
46-90 days -56 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 Treasury Bill Auction undertaken by RBI during Quarter Anchor Rate applicable for Quarter
  364 -Days Treasury Bill 91-Days Treasury Bill  
Apr 01-Jun 30, 2020 3.77 3.54 Jul 01-Sept 30, 2020
Jul 01-Sept 30, 2020 3.54 3.24 Oct 01-Dec 31, 2020
Oct 01-Dec 31, 2020 3.45 3.12 Jan 01-Mar 31, 2021
Jan 01-Mar 31, 2021 3.71 3.27 Apr 01-Jun 30, 2021
Apr 01-Jun 30, 2021 3.77 3.39 Jul 01-Sept 30, 2021
Jul 01-Sept 30,2021 3.69 3.37 Oct 01-Dec 31, 2021
Oct 01-Dec 31, 2021 4.09 3.54 Jan 01-Mar 31, 2022
Jan 01-Mar31,2022 4.56 3.74 Apr 01-June 30, 2022
Apr 01-June 30, 2022 5.59 4.60 July 01 to Sept 30, 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 - Mar 31, 2023 7.14 6.66 Apr 01 - June 30, 2023
Between Apr 01- June 30, 2023 6.96 6.81 from Jul 01- Sept 30, 2023

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 Jul 01, 2023 - Sept 30, 2023 ( 91 -T Bill)
Tenor Anchor Rate Mark -up on average rate Effective rate for FRTD Senior Citizen
(Years) (%) (%) (%) (%)
1 6.81 0.50 7.31 7.81
2 6.81 0.50 7.31 7.81
3 6.81 0.50 7.31 7.81
5 6.81 0.40 7.21 7.71
7 6.81 0.20 7.01 7.51
10 6.81 0.20 7.01 7.51
>10 – 20 $ 6.81 0.10 6.91 7.41
B) Applicable for Existing FRTD accounts opened during August 01, 2014 to Oct 31,2018
Rates revised for period Jul 01, 2023 - Sept 30, 2023 ( 364 -T Bill)
Tenor Anchor Rate Mark -up on average rate Effective rate for FRTD Senior Citizen
(Years) (%) (%) (%) (%)
1 6.96 1.00 7.96 8.46
2 6.96 0.75 7.71 8.21
3 6.96 0.75 7.71 8.21
5 6.96 0.75 7.71 8.21
7 6.96 0.75 7.71 8.21
10 6.96 1.00 7.96 8.46
>10 – 20 6.96 0.65 7.61 8.11
C) Applicable for Existing FRTD accounts opened prior to August 01, 2014
Rates revised for period Jul 01, 2023 - Sept 30, 2023 ( 364 -T Bill)
Tenor Anchor Rate Mark -up on average rate Effective rate for FRTD Senior Citizen
(Years) (%) (%) (%) (%)
1 6.96 1.00 7.96 8.46
2 6.96 1.10 8.06 8.56
3 6.96 1.25 8.21 8.71
5 6.96 1.25 8.21 8.71
7 6.96 1.35 8.31 8.81
10 6.96 1.40 8.36 8.86

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. November 12, 2023
Normal Retail Rate 6.50
Senior Citizens 7.00

Systematic Savings Plan (SSP /SSP Plus)**** (w.e.f. November 12, 2023)

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 *8.45% - 10.75%
Self Employed Non-Professional *8.55% - 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 *8.65% - 10.95%
Self Employed Non-Professional *8.75% - 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. 7.50 Lakh (studies 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 8.75% - 9.55%

Fixed ROI: Home Loan

Plain Vanilla Home Loan (Purchase/Construction/Extension)

All loan Amounts For 3 Year Tenor For > 3 Year Tenor
  9.85% 10.10%
Plot Loan for House Construction Sanction Amount Rate of Interest
  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%

Fixed ROI : Reverse Mortgage Loan (RML)

All loan Amounts
10.85%
The RoI shall be reset every five years with prevailing Fixed Rate for Five Years.

Fixed ROI: Loan for Commercial Property Purchase (LCPP) ( Fixed for 5 years)

PSL 11.85%
Non PSL 12.00%

Fixed ROI : Education Loan

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 8.75% - 9.35%

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