IDBI Bank Home Loan Interest Rate, EMI Calculator, Eligibility

IDBI Bank Home Loan Interest Rate, EMI Calculator, Eligibility

IDBI Bank home Loan offer easiest loan reimbursement options and lower EMIs at attractive interest rate. Check eligibility for Home Loan now. in this article we have introduced you with IDBI Bank Home Loan Interest Rate and Fixed deposit interest rate, Senior Citizen interest rate for fixed deposit.

IDBI Home Loan Documents required

As per RBI rules, Savings bank will be calculated on the daily balances maintained in your account, at a rate of interest decided by the bank from time to time (existing rate is 4.00% p.a).

Savings Bank Rate (w.e.f. May 03, 2011) 4.00 % p.a.
Base Rate (w.e.f. Jan 01, 2017) 9.50%
Current BPLR (w.e.f. .Jan 01, 2017) 14.00%
Marginal Cost of Fund Based Lending Rate w.e.f. 01-02-2017
Tenor MCLR ( in % )
Overnight 8.20%
One Month 8.40%
Three Month 8.55%
Six Month 8.60%
One Year 8.80%
Two Year 8.85%
Three Year 8.95%

 

IDBI Fix Deposit Interest Rate

The IDBI Bank Pays Interest rate on deposit amount as per various deposit scheme. Interest rate are revised from time to time and made known to public. Revised interest rate applicable only on renewal and fresh deposits while existing deposit continue to get interest rate at the contracted rate.

Interest Rate on Term Deposits (w.e.f. . February 22, 2017)
Resident Term Deposit / NRO for deposit upto less than Rs. 1 Crore #
Maturity Slab Interest Rate (% p.a.)
15-30 days 4.25
31-45 days 5
46-60 days 5.5
61-90 days 5.75
91-6 months 6.5
6 months 1 day to 270 days 6.5
271 days to < 1year 6.75
1yrs to 2yrs 6.9
>2 yrs to < 3 yrs 6.75
3 yrs to < 5 yrs 6.75
5 years 6.75
> 5yrs – 7yrs 6.75
>7 yrs – 10 yrs 6.75
>10 yrs – 20 yrs* 6.75
Senior Citizen Interest Rates** for deposit upto less than Rs. 1 Crore#
Maturity Slab Sr. Citizen Interest Rate (p.a. %)
15-30days 4.25
31-45 days 5
46-60 days 5.5
61-90 days 5.75
91-6 months 6.5
6 months 1 day to 270 days 6.5
271 days to < 1year 6.75
1yrs to 2yrs 7.4
>2 yrs to < 3 yrs 7.25
3 yrs to < 5 yrs 7.25
5 years 7.25
> 5yrs – 7yrs 7.25
>7 yrs – 10 yrs 7.25
>10 yrs – 20 yrs* 7.25
# Deposits of Rs 1 Crore and above are treated as Bulk deposit w.e.f April 01, 2013 as per the revised definition advised by RBI.
*I. Resident Retail deposits on regular payment of interest basis (i.e. non-cumulative basis) may be accepted by the branches.
II. Retail Deposits under Floating Rate Term Deposit (FRTD) Scheme for maturity bucket above 10 years to 20 years (non-cumulative) may also be accepted.
** The Senior Citizen Interest rates are 0.50% higher for deposits from 1 year and above.

 

Floating Rate Term Deposit
ANCHOR RATE DETAILS
Average of Weighted Avg. Yield of 364 days Treasury Bill Auction undertaken by RBI for Quarter Anchor Rate (%) Anchor Rate for Quarter
Between April 1 – June 30, 2012 8.19 July 1 – September 30, 2012
Between July 1 – September 30, 2012 8.04 Between October 1 – December 31, 2012
Between October 1 – December 31, 2012 8.05 Between January 1 – March 31, 2013
Between January 1 – March 31,2013 7.86 Between April 1 – June 30, 2013
Between April 1 – June 30,2013 7.46 Between July 1- Sept.30, 2013
Between July 1 – Sept.30, 2013 9.53 Between Oct.1 – Dec.31, 2013
Between Oct.1 – Dec.31, 2013 8.83 Between January 1 – March 31, 2014
Between January 1 – March 31, 2014 8.88 Between April 1 – June 30, 2014
Between April 1 – June 30, 2014 8.82 Between July 1 – Sept 30, 2014
Between July 1 – September 30, 2014 8.69 Between October 1 – December 31, 2014
Between Oct.1 – Dec.31, 2014 8.39 Between January 1 – March 31, 2015
Between January 1 – March 31, 2015 8.01 Between April 1 – June 30, 2015
Between April 1 – June 30, 2015 7.83 Between July 1 – Sept 30, 2015
Between July 1 – September 30, 2015 7.5 Between October 1 – December 31, 2015
Between Oct.1 – Dec.31, 2015 7.22 Between January 1 – March 31, 2016
Between January 1 – March 31, 2016 7.21 Between April 1 – June 30, 2016
Between April 1 – June 30, 2016 6.93 Between July 1 – Sept 30, 2016
Between July 1 – September 30, 2015 6.69 Between October 1 – December 31, 2016
Between October 1 – December 31, 2016 6.26 Between January 1 – March 31, 2017

 

EFFECTIVE RATE (Jan 01, 2017 to Mar 31, 2017)
(Rate in % p.a)
Tenor Anchor Rate Mark-up Regular Depositor Senior Citizen Mark -up Regular Depositor Senior Citizen
(Years) (Applicable for existing FRTD opened prior to August 01, 2014)
1 6.26 1 7.26 7.76 1 7.26 7.76
2 6.26 0.75 7.01 7.51 1.1 7.36 7.86
3 6.26 0.75 7.01 7.51 1.25 7.51 8.01
5 6.26 0.75 7.01 7.51 1.25 7.51 8.01
7 6.26 0.75 7.01 7.51 1.35 7.61 8.11
10 6.26 1 7.26 7.76 1.4 7.66 8.16
>10 – 20 6.26 0.65 6.91 7.41 1.4 7.66 8.16

 

IDBI Bank Home Loan Term & Condition (TC*)

 

Interest Payment – Customers can get the interest payment on the deposit amount quarterly on the last day of each quarter.

Interest Reset – Every 3 months, coinciding with calendar quarters – 1st April, 1st July, 1st October, 1st January every year.

Minor’s Account – a minor’s cannot open alone FRTD, as the maturity amount cannot be determined at the time of opening the FRTD, minor’s account can be opened jointly with his/her guardian only.

Tax Deduction at Source – TDS applicable if the interest payable / Paid on deposit exceed Rs. 10,000/ per year, per customer, per branch.

Premature Withdrawal :-

(a)  The IDBI Bank minimum lock in period is one year before one year you can’t withdrawal.

(b)  After one year, the rate applicable, within the event of premature withdrawal, would be the common benchmark rate of the immediate preceding quarter with the mark up of applicable preceding tenor e.g. If the investor books deposit for two years and requests for a pre closure after one year and 110 days the applicable rate would be the common benchmark of the preceding quarter of the last quarter the deposit had remained with the Bank (as applicable for the occasional quarter) and the mark up of 1 year.

(c)  The IDBI Bank Calculation of Interest rate shall be as per extant guidance’s for term deposit carrying fixed rate.

 

IDBI Interest Rate for Senior Citizen

Senior Citizen will be paid interest rate at 50 basis point higher that applicable FRTD rate.

 

Change from Fixed to floating rate  in IDBI

 

Proposed to be permitted by conclusion of the current Term Deposit under settled rate and installment at the initially contracted rate. No Premature penalty to be collected given rebooking tenure under the FRTD scheme is at any rate equivalent to the original residual time of the Term Deposit contracted at settled rate of interest. No change of floating to fixed rate permissible.

 

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. February 22, 2017
Normal Retail Rate 6.75
Senior Citizens 7.25
Recurring Deposits **** (w.e.f. February 22, 2017)
Interest Rate (% p.a.)
Tenure Normal Senior Citizen
1yrs to 2yrs 6.9 7.4
>2 yrs to <3 yrs 6.75 7.25
3 yrs to < 5 yrs 6.75 7.25
5 years 6.75 7.25
> 5yrs – 7yrs 6.75 7.25
>7 yrs – 10 yrs 6.75 7.25

*****No interest shall be paid if Recurring Deposit (RD) is stopped before three months. If RD is stopped before one year however kept for no less than 3 months with the Bank then Interest rate applicable for Savings Bank shall be paid. In the event of premature conclusion of Recurring Deposit by Sr. citizen, the extra 50bps appropriate to Sr. citizen shall be made accessible given the RD has been with the bank for finish 12 months from the date of the first portion.

 

Rate Conversion Offer in IDBI Bank

IDBI Bank has rolled out the facility of rate conversion from interest rate connected to Benchmark Prime Lending Rate (BPLR)/Base Rate (BR) to the predominant interest rate linked to Marginal Cost of Lending Rate (MCLR). The details elements of such offer are as under:

Change of existing BPLR/Base Rate connected ROI cases to MCLR based valuing wherein compelling rate of interest will be kept unchanged.

In case of such conversion offer, the rate of interest to be arrived by including suitable spread over MCLR material at the season of practicing such choice.

No charges will be exacted for such rate conversion.

In case of the current customer(s) with present rate of interest not as much as the prevailing MCLR of one year will be moved to minimum of prevailing one year MCLR.

Conversion of existing BPLR/Base Rate linked ROI cases to MCLR based pricing where the compelling rate of interest descends subsequently of repairing of spread on MCLR as chose to our greatest advantage rate structure.

In case of such conversion, the customer can profit a superior interest rate in perspective of the spread MCLR based structure.

Conversion expenses to be required @ 0.10%(subject to change) in addition to relevant charges on the exceptional credit sum.

Such sort of conversion facility is confined just to the standard records with reputation of regular payments.

For further help

It would be ideal if you contact your closest Branch/Retail Asset focus or Call:

1800-22-1070 (MTNL/BSNL)

1800-200-1947 (Mobile/Other)

 

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