IDBI Bank Revises Retail Deposit Rates in Various Maturity Buckets

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:

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IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation. This enables the Bank to offer personalized banking and financial solutions to its clients. IDBI Bank has one of the largest housing loan portfolios amongst PSBs and offers housing loans at base rate to its existing and new customers. The Bank offers very competitive rates to the MSME segment wherein it has different schemes for the specific customer segments. IDBI Bank also has a strong focus on agriculture sector and allied activities through its customized products, competitive pricing and personalized services.