IDBI Bank revises retail deposit rates in various maturity buckets
Author(s): City Air NewsMumbai, June 9, 2015: Post bi-monthly Monetary policy 2015-16 announced by RBI on June 02, 2015, IDBI Bank has decided to revise retail term deposit rates with effect from June 10, 2015 across all maturity buckets....
cityairnews
Jun 9, 2015 12:30
0
Mumbai, June 9, 2015: Post bi-monthly Monetary policy 2015-16 announced by RBI on June 02, 2015, IDBI Bank has decided to revise retail term deposit rates with effect from June 10, 2015 across all maturity buckets. The Bank has reduced interest rate in most of the short term maturity buckets of 31 days to <1 year by 25 bps (except 6 month 1 day, where interest rate is reduced by 55 bps). The interest rate in medium and longer term maturity buckets have been reduced by 15 bps (except for 1 year to < 2 years, where interest rate is reduced by 20 bps). The existing and revised interest rates in different maturity buckets are as under:
|
Maturity Slab |
Existing Interest Rate (% p.a.) |
Revised Interest Rate (% p.a.) |
Change (bps) |
|
15-30 days |
4.50 |
4.50 |
- |
|
31-45 days |
6.00 |
5.75 |
25 |
|
46- 60 days |
6.50 |
6.25 |
25 |
|
61-90 days |
7.00 |
6.75 |
25 |
|
91-6 months |
7.75 |
7.50 |
25 |
|
6 months 1 day |
8.55 |
8.00 |
55 |
|
6 months 2 days to 270 days |
8.00 |
8.00 |
- |
|
271 days to < 1year |
8.25 |
8.00 |
25 |
|
1 year to < 2 years |
8.45 |
8.25 |
20 |
|
2 years to < 3 years |
8.40 |
8.25 |
15 |
|
3 years to < 5 years |
8.40 |
8.25 |
15 |
|
5 years |
8.40 |
8.25 |
15 |
|
> 5 years - 7years |
8.40 |
8.25 |
15 |
|
>7 years - 10 years |
8.40 |
8.25 |
15 |
|
>10 years - 20 years |
8.00 |
7.75 |
25 |
|
Tax Savings FD |
|||
|
5 years |
8.40 |
8.25 |
15 |
Date:
Tuesday, June 9, 2015
