Private sector lender IDBI Bank on Monday hiked rates of interest for more than a few schemes throughout tenure, in line with a studies in HT’s sister e-newsletter Mint, that cited data to be had at the financial institution’s web site,
The financial institution’s Marginal Cost of Funds-Based Lending Rate (MCLR), rates of interest on bulk time period deposits are a few of the charges which were hiked, the file additional stated, including that the revised charges can be regarded as efficient from March 10 (bulk time period deposits ) and March 12 (MCLRs).
IDBI Bank MCL charges
After the revision, the non-public lender’s in a single day MCLR stands at 7.8%, whilst the ones for one month and 3 months are at 7.95% and eight.25% respectively. For tenures of six months, 12 months, two years and 3 years, those were larger to eight.45%, 8.5%, 9.1% and 9.5%, respectively.
Tenure | Hiked MCLR |
in a single day | 7.8% |
1 month | 7.95% |
3 months | 8.25% |
6 months | 8.45% |
1 yr | 8.5% |
2 years | 9.1% |
3 years | 9.5% |
IDBI Bank bulk time period deposit rates of interest
adulthood slabs | 2 crore- 5 crores | , 5 crore- 10 crores | , 10 crore- 50 crores | , 50 crore- 100 crores | , 100 crore- 200 crores | , 200 crore- 500 crores | , 500 crores |
7-14 days | 5.01% | 5.51% | 5.51% | 5.61% | 5.61% | 5.61% | 5.61% |
15-30 days | 5.11% | 5.51% | 5.81% | 6.11% | 6.31% | 6.31% | 6.31% |
31-45 days | 5.31% | 5.51% | 5.81% | 6.37% | 6.37% | 6.37% | 6.37% |
46-90 days | 6% | 6.46% | 7.01% | 7.11% | 7.14% | 7.14% | 7.14% |
91-180 days | 6.71% | 6.75% | 7.11% | 7.4% | 7.4% | 7.4% | 7.4% |
181-250 days | 6.81% | 6.85% | 7.11% | 7.11% | 7.11% | 7.11% | 7.11% |
251-270 days | 6.91% | 6.91% | 7.11% | 7.11% | 7.11% | 7.11% | 7.11% |
271 days to <1 yr | 7.01% | 7.01% | 7.11% | 7.11% | 7.11% | 7.11% | 7.11% |
1 yr | 7.11% | 7.26% | 7.36% | 7.41% | 7.46% | 7.46% | 7.46% |
>1 yr to >1 yr 3 months | 7.16% | 7.51% | 7.61% | 7.61% | 7.61% | 7.61% | 7.61% |
>1 yr 3 months to two years | 7.11% | 7.11% | 7.11% | 7.11% | 7.11% | 7.11% | 7.11% |
>2 years to 36 months | 6.91% | 6.91% | 6.91% | 6.91% | 6.91% | 6.91% | 6.91% |
>36 months to five years | 6.61% | 6.81% | 6.81% | 6.81% | 6.91% | 6.91% | 6.91% |
>5-7 years | 6.51% | 6.71% | 6.71% | 6.71% | 6.81% | 6.81% | 6.81% |
>7-10 years | 6.41% | 6.71% | 6.71% | 6.71% | 6.81% | 6.81% | 6.81% |
IDBI FD rates of interest
In February, IDBI upped Interest charges on mounted deposits, with impact from 13th of that month.