IDBI Bank revises fixed deposit rates at an attractive interest rate of 9.25% p.a. for 1100 days and 9.00% p.a. for 500 days for normal deposits and 10% p.a. for 1100 days and 9.75% for 500 days for senior citizens w.e.f January 04, 2011 .
The Bank pays interest on deposits as per various deposit scheme. 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 |
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| Base Rate (w.e.f January 01, 2011) | 9.00%
All floating Loans are linked to Base Rate of the Bank. |
| Current BPLR (w.e.f January 01, 2011) | 13.75% |
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| Resident Term Deposits & NRO Deposits (Effective from January 04, 2011) |
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Tenor | Rate (%) |
| Upto Rs.15 lakh | Above Rs.15 lakh upto Rs.1 cr |
| 15-45 days | 3.25 | 3.25 |
| 46-90 days | 5.50 | 5.50 |
| 91 days < 6 months | 6.50 | 6.50 |
| 6 months –269 days | 7.25 | 7.25 |
| 270 days - 1 year | 8.00 | 8.00 |
| 1 year 1 day-499 days | 8.50 | 8.50 |
| 500 days | 9.00 | 9.00 |
| >500 days -1099 days | 9.00 | 9.00 |
| 1100 days | 9.25 | 9.25 |
| >1100 days– 5 years | 8.60 | 8.60 |
| >5 years - 7 years | 8.50 | 8.50 |
| >7 yrs-10 years | 8.75 | 8.75 |
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** All branches are requested to use the codes specific for 500 days and 1100 days for opening these special buckets account.
500 days and 1100 days will not carry the facility of Auto Renewal or Sweeps facility. |
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| Senior Citizens Deposits (Effective from January 04, 2011 ) |
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|
Tenor | Rate (%) |
| Upto Rs.15 lakh | Above Rs.15 lakh upto Rs.1 cr |
| | | |
| 46-90 days | 6.00 | 6.00 |
| 91 days - < 6 months | 7.00 | 7.00 |
| 6 months –269 days | 7.75 | 7.75 |
| 270 days- 1 year | 8.50 | 8.50 |
| 1 year 1 day-499 days | 9.25 | 9.25 |
| 500 days | 9.75 | 9.75 |
| >500 days -1099 days | 9.75 | 9.75 |
| 1100 days | 10.00 | 10.00 |
| >1100 days – 5 yrs | 9.35 | 9.35 |
| >5 yrs-7 yrs | 9.25 | 9.25 |
| >7 yrs-10 years | 9.50 | 9.50 |
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| Suvidha Tax Saving Fixed Deposits (5 YEARS) |
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| | w.e.f. 01-01-2011 |
| Normal Retail Rate | 8.50 |
| Senior Citizens | 9.25 |
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| Recurring Deposits (Effective from January 04, 2011 ) |
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| Tenor | Rate of Interest |
| 1 year - 16 mths | 8.50 |
| >16 mths - <2 yrs | 9.00 |
| 2 yrs - 36 mths | 9.00 |
| >36 mths - 5 yrs | 8.60 |
| >5 yrs - 7 yrs | 8.50 |
| >7 yrs – 10 yrs | 8.75 |
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The retired staff members of our Bank, fulfilling the prescribed criteria of Senior Citizens (as advised by Bank) would also be eligible to get this benefit of 0.50% higher rate of interest (on deposits upto 1 year) and 0.75% higher rate of interest (on deposits above 1 year) in addition to existing benefit of 1% higher (on all maturities) over and above the normal rates as per extant guidelines, on domestic term deposits. |
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Interest payable on Premature Withdrawal of Term Deposits
No penalty for premature withdrawal on all the above deposits opened/renewed with effect from 1st Jan. 2011
No premature penalty will be applicable if the existing FD’s of Individuals, HUFs and TASC customers are rebooked with us for an equal or longer maturity period.- eg.- If a customer had booked an FD in April 14, 2010 for 2 years and he now proposes to preclose and reinvest afresh from January 01, 2011 for 2 years or more. In case the customer prefers to prematurely withdraw the deposit (FD booked before 01st Jan 2011 ) from the Bank, the existing penalty norms will be applicable |
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