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 ,2024)
| Saving Balance | Rate of Interest (% p.a.) |
|---|---|
| Up-to Rs.1Lakh | 2.75 |
| Above Rs.1Lakh-Rs.5 Lakh | 2.90 |
| Above Rs.5lakh to Rs.5 crore | 3.00 |
| Above Rs. 5 Cr to 100 Cr | 3.25 |
| Above Rs.100 Cr to Rs.1000Cr | 3.50 |
| Above Rs.1000 Cr to Rs.1500Cr | MIBOR +10bps |
| Above Rs.1500Cr to Rs.2000Cr | MIBOR +40bps |
| Above Rs.2000Cr | MIBOR +75bps |
Note:
- MIBOR linked floating Saving Bank Rate (w.e.f December 04, 2023)
- MIBOR Linked floating interest rate will be applicable on entire balance (all rates applicable on the end of the day balance) if the balance exceeds Rs 1000 cr. based on the slab as above.
- For more details on the MIBOR Linked Floating Interest rate, please contact your Relationship Manager or visit your nearest IDBI Bank Branch.
- With effect from February 1,2021, Interest Rate on Savings Deposits is calculated on the basis of 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. 12-10-2024
| Tenor | MCLR |
|---|---|
| Overnight MCLR | 8.40% |
| One Month MCLR (1M) | 8.55% |
| Three Month MCLR (Q) | 8.85% |
| Six Month MCLR (HY) | 9.10% |
| One year MCLR (Y) | 9.15% |
| Two Year MCLR (2Y) | 9.70% |
| Three Year MCLR (3Y) | 10.10% |
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 15, 2024)
Following are the rates on Resident / NRO Term Deposit less than Rs. 3 Crore #.For interest rate on NRE Term Deposit click here.
| Interest Rate (% p.a.) | ||
|---|---|---|
| Retail Term Deposits (< 3 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- 60 days | 4.50 | 5.00 |
| 61- 90 days | 4.75 | 5.25 |
| 91 days to 6 months | 5.50 | 6.00 |
| 6 months 1 day to 270 Days | 6.00 | 6.50 |
| 271 days to < 1 year (except 300 Days) |
6.25 | 6.75 |
| 1 Year to 2 Years (except 375 Days,444 Days & 700 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.
- Effective from June 10, 2024, the maximum Retail Term Deposit(RTD) threshold has been enhanced to < Rs 3 Crores, from previously < Rs 2 Crores, as per RBI directives.
Utsav Callable FD (Revised Rates w.e.f. August, 15, 2024)
Validity Extended up to December 31, 2024
The interest rate structure is as under:
| Interest Rate (% p.a.) | ||||
|---|---|---|---|---|
| Special Buckets | General/NRE/NRO | Senior Citizens | ||
| 300 Days | 7.05 | 7.55 | ||
| 375 Days | 7.25 | 7.75 | ||
| 444 Days | 7.35 | 7.85 | ||
| 700 Days | 7.20 | 7.70 | ||
General Terms and Conditions for UTSAV FD-
- Tenure of 300 Days not applicable for NRE Deposits.
- 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.
Bulk Term Deposits
| Card rates for Non-Callable Bulk Term Deposits (BTD) [w.e.f. 19/10/2024] | |||||||
|---|---|---|---|---|---|---|---|
| Maturity Slabs | 3 cr. to Rs.7.5 cr |
>7.5 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 | 7.21% | 7.21% | 7.31% | 7.31% | 7.36% | 7.36% | 7.36% |
| 181 – 250 days | 7.31% | 7.31% | 7.36% | 7.36% | 7.51% | 7.51% | 7.51% |
| 251 days - 270 days | 7.41% | 7.41% | 7.46% | 7.51% | 7.56% | 7.56% | 7.61% |
| 271 days to < 1 year | 7.51% | 7.51% | 7.61% | 7.61% | 7.66% | 7.66% | 7.71% |
| 1 year | 7.71% | 7.71% | 7.91% | 7.91% | 7.91% | 7.91% | 7.91% |
| >1 year -1 year 3 mnth | 7.71% | 7.71% | 7.91% | 7.91% | 7.91% | 7.91% | 7.91% |
| >1 yr 3 mnth - 2 year | 7.01% | 7.11% | 7.21% | 7.21% | 7.21% | 7.21% | 7.21% |
Additional Terms and Conditions for Non- Callable bulk deposit schem
- Branches are advice to affix stamp on physical Confirmation of Deposit (CoD) clearly indicating the following "This is a Non-Callable deposit wherein Pre-mature/ partial withdrawal is not permitted"
- Sweep-in / Sweep-out facility is not permitted.
- Auto renewal not allowed.
- Pre- Mature closure / partial withdrawal are not permitted.
| Card rates for Callable Bulk Term Deposits (BTD): [w.e.f. 19/10/2024] | |||||||
|---|---|---|---|---|---|---|---|
| Maturity Slabs | 3 cr to Rs.7.5 cr |
>7.5 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 | 5.26% | 5.76% | 5.86% | 5.86% | 5.86% | 5.86% | 5.86% |
| 15 – 30 days | 5.26% | 5.76% | 6.01% | 6.11% | 6.11% | 6.11% | 6.11% |
| 31– 45 days | 6.01% | 6.01% | 6.26% | 6.26% | 6.26% | 6.26% | 6.26% |
| 46 – 90 days | 6.51% | 6.61% | 6.86% | 6.96% | 7.01% | 7.06% | 7.06% |
| 91 - 180 days | 7.11% | 7.11% | 7.21% | 7.21% | 7.26% | 7.26% | 7.26% |
| 181 – 250 days | 7.21% | 7.21% | 7.26% | 7.31% | 7.31% | 7.36% | 7.36% |
| 251 days - 270 days | 7.26% | 7.26% | 7.31% | 7.36% | 7.41% | 7.46% | 7.46% |
| 271 days to < 1 year | 7.31% | 7.31% | 7.36% | 7.41% | 7.46% | 7.51% | 7.51% |
| 1 year | 7.36% | 7.36% | 7.46% | 7.46% | 7.56% | 7.56% | 7.61% |
| >1 year -1 year 3 mnth | 7.36% | 7.36% | 7.46% | 7.46% | 7.56% | 7.56% | 7.61% |
| >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% |
* Branches may take card rates for amount Rs.3 cr.to Rs.7.5cr.
- Treasury consents for rates amount above Rs.7.5cr.
Branches should necessarily seek consent from Treasury (mmk.tfo@idbi.co.in) before submitting to clients. RPU/CPU teams to open such accounts only after verifying the rate approval from Treasury Front Office.
- Acceptance of deposits of Rs.7.5 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. 02-05-2024 | Effective rate considering RBI Repo @ 6.50% w.e.f. 02-05-2024 | Corresponding revised regular Bulk FD rate |
| Current | % | ||
| 1 year | 20bps | 6.70 | 7.21 |
| 2 year | 20 bps | 6.70 | 6.86 |
| 3 Year | 5 bps | 6.55 | 6.61 |
| 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. 02-05-2024 |
| Current | |
| 7-30 days | -175 bps |
| 31-45 days | -160 bps |
| 46-90 days | -65 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 | Anchor Rate applicable for Quarter | |
| 364 -Days Treasury Bill | 91-Days Treasury Bill | ||
| Oct 01-Dec 31, 2022 | 6.91 | 6.38 | Jan 01-Mar31,2023 |
| Jan 01-Mar31,2023 | 7.14 | 6.66 | Apr 01- June 30, 2023 |
| Apr 01- June 30, 2023 | 6.96 | 6.81 | Jul 01- Sept 30, 2023 |
| Jul 01- Sept 30, 2023 | 6.99 | 6.79 | Oct 01- Dec 31, 2023 |
| Oct 01- Dec 30, 2023 | 7.15 | 6.93 | Jan 01 – Mar 31, 2024 |
| Jan 01- Mar 31, 2024 | 7.12 | 6.97 | Apr 01-June 30, 2024 |
| Apr 01- June 30, 2024 | 7.04 | 6.89 | Jul 01 – Sept 30, 2024 |
| Between July 01- September 30 , 2024 | 6.79 | 6.68 | From Oct 01 – Dec 31, 2024 |
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 01,2018RATE APPLICABLE FROM October 1, 2024 to December 31, 2024 ( 91 -T Bill)
| Tenor | Anchor Rate | Mark -up on average rate | Effective rate for FRTD | Senior Citizen |
|---|---|---|---|---|
| (Years) | (%) | (%) | (%) | (%) |
| 1 | 6.68 | 0.50 | 7.18 | 7.68 |
| 2 | 6.68 | 0.50 | 7.18 | 7.68 |
| 3 | 6.68 | 0.50 | 7.18 | 7.68 |
| 5 | 6.68 | 0.40 | 7.08 | 7.58 |
| 7 | 6.68 | 0.20 | 6.88 | 7.38 |
| 10 | 6.68 | 0.20 | 6.88 | 7.38 |
| >10 – 20 $ | 6.68 | 0.10 | 6.78 | 7.28 |
RATE APPLICABLE FROM October 1, 2024 to December 31, 2024 ( 364 -T Bill)
| Tenor | Anchor Rate | Mark -up on average rate | Effective rate for FRTD | Senior Citizen |
|---|---|---|---|---|
| (Years) | (%) | (%) | (%) | (%) |
| 1 | 6.79 | 1.00 | 7.79 | 8.29 |
| 2 | 6.79 | 0.75 | 7.54 | 8.04 |
| 3 | 6.79 | 0.75 | 7.54 | 8.04 |
| 5 | 6.79 | 0.75 | 7.54 | 8.04 |
| 7 | 6.79 | 0.75 | 7.54 | 8.04 |
| 10 | 6.79 | 1.00 | 7.79 | 8.29 |
| >10 – 20 | 6.79 | 0.65 | 7.44 | 7.94 |
RATE APPLICABLE FROM July 1, 2024 to September 30, 2024 ( 364 -T Bill)
| Tenor | Anchor Rate | Mark -up on average rate | Effective rate for FRTD | Senior Citizen |
|---|---|---|---|---|
| (Years) | (%) | (%) | (%) | (%) |
| 1 | 6.79 | 1.00 | 7.79 | 8.29 |
| 2 | 6.79 | 1.10 | 7.89 | 8.39 |
| 3 | 6.79 | 1.25 | 8.04 | 8.54 |
| 5 | 6.79 | 1.25 | 8.04 | 8.54 |
| 7 | 6.79 | 1.35 | 8.14 | 8.64 |
| 10 | 6.79 | 1.40 | 8.19 | 8.69 |
| >10 – 20 | 6.79 | 1.40 | 8.19 | 8.69 |
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. June 18, 2024 | |
|---|---|
| Normal Retail Rate | 6.50 |
| Senior Citizens | 7.00 |
Systematic Savings Plan (SSP /SSP Plus)**** (w.e.f. June 18, 2024)
| 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 = 9.15% for new loans w.e.f. August 12, 2024
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% - 10.80% |
| Self Employed Non-Professional | 8.55% - 12.30% |
| Home Loan Ultra Saver | 8.85% - 12.70% |
| 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 | 9.85% - 10.45% |
| Rural/Semi Urban Housing | ||
|---|---|---|
| Category | Rate of Interest | |
| Loan amount Up to Rs.35 Lakh | Salaried/ Self Employed Professional | 8.45% - 10.75% |
| Self Employed Non-Professional | 8.75% - 10.85% | |
Loan against Property (LAP)
| Loan Against Property (LAP) | Rate of Interest |
|---|---|
| Residential Property | 9.55% - 11.50% |
| Commercial Property | 10.05% - 11.75% |
| Loan for Commercial Property Purchase (LCPP) | Rate of Interest |
|---|---|
| 10.05%-11.90% | |
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) | 11.15% |
| Above Rs. 7.5 lakhs (studies in India) | 11.15% |
| Above Rs. 7.5 lakhs (studies abroad and studies in Premier Institutions abroad) | 10.65% |
| Vocational/ Skill Development Courses | |
|---|---|
| All Amounts | 11.05% |
| Loans for students studying in Premier Education Institutes (including ISB) | |
|---|---|
| For all IIMs, ISB & IITs -All Amounts | 8.55% |
| All Other Premier Institutions - All Amounts | 9.15% |
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) | 10.55% |
| Salary / Pension Account with overdraft facility (For others) | 13.30% |
Loan against Securities
| ROI Range | 10.15% - 11.15% |
Auto Loan
| ROI Range | 8.85%-9.65% |
Fixed ROI: Home Loan
Plain Vanilla Home Loan including Rural / Semi Urban Housing Loan (Purchase/ Construction / Extension/Balance Transfer )
| All loan Amounts | For 3 Year Tenor | For > 3 Year Tenor |
| 10.90% | 12.00% | |
| Plot Loan for house construction (All loan amount) | Rate of Interest |
| 12.25% | |
Reverse Mortgage Loan (RML) (Fixed for 5 years)
| All loan Amounts |
| 11.50% |
Loan for Commercial Property Purchase (LCPP) ( Fixed for 5 years)
| PSL | 12.90% |
| Non PSL | 13.05% |
LAP-Residential (Fixed for 5 years)
| PSL | 12.40% |
| Non PSL | 12.55% |
LAP-Commercial & Loan against Rent Receivables (LARR) ( Fixed for 5 years)
| PSL | 12.65% |
| Non PSL | 12.80% |
Fixed ROI : Education Loan
| All the variants of Education Loan ( Fixed for 5 years) |
| 11.50% |
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 | 9.15%-9.40% |
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% |