IDBI Bank revises Interest Rates on Deposits
The ALCO of IDBI Bank reviewed the interest rates on retail term deposits and keeping in view inflation and liquidity scenario, the Bank has decided to increase the retail term deposit rates by 25-50 basis points (bps) in different maturity buckets.
The revised interest rates are effective from July 14, 2011.
Additional Interest rate for Senior citizens is 50 - 75 bps above the normal interest.
| Tenor | IDBI Bank - Rate (%) | |||
| Upto Rs. 15 lakh | Above Rs. 15 lakh up to Rs. 1 cr | |||
| Existing | W.E.F July 14, 2011 | Existing | W.E.F July 14, 2011 | |
| 15-45 days | 4.50 | 4.50 | 4.50 | 4.50 |
| 46-90 days | 6.50 | 7.00 | 6.50 | 7.00 |
| 91-days < 6 months | 7.75 | 7.75 | 7.75 | 7.75 |
| 6 months - 269 days | 8.25 | 8.25 | 8.25 | 8.25 |
| 270 days - 1 year | 9.00 | 9.00 | 9.00 | 9.00 |
| 1 year 1 day - 499 days | 9.25 | 9.25 | 9.25 | 9.25 |
| 500 days | 9.50 | 9.50 | 9.50 | 9.50 |
| >500 days - 5 years | 9.25 | 9.25 | 9.25 | 9.25 |
| >5 years - 7 years | 9.25 | 9.25 | 9.25 | 9.25 |
| >7 years - 10 years | 9.00 | 9.25 | 9.00 | 9.25 |
| Tax Savings Suvidha (5 years lock in) | 9.00 | 9.25 | Nil | Nil |
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