IDBI Bank raises deposit, lending rates
By Neelima Shankar
Dec 16, 2010
Print    Email    RSS   

Public sector lender, IDBI Bank has declared a rise in both its lending as well as fixed deposit rates.

The bank has raised deposit rates in the range of 25 to 100 bps across different maturities. Also base rate has been hiked by 50 bps figuring to 9% while benchmark prime lending rate (BPLR) stands at 13.75%, a 25 bps rise.

This implies that loans under base rate will get dearer by atleast 50 bps while the BPLR related ones will see atleast a 25 bps hike.

The rise in deposit rates has come into effect from December 15, 2010. The bank has made the highest rise in case of the 46-90 days deposit where the interest now stands at 5.5% as against 4.5% earlier.

The highest interest rate is 8.75% which will be fetched by the 1100 days deposit which earlier had interest of 8.25% attached to it.

The bank's move follows many other peers like banking major, State Bank of India, ICICI Bank, Punjab National Bank, Canara Bank to name a few.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Children’s Saving Account- teaching...
The recent interest rate hike
Carnival of Indian Personal Finance Blogs #4
Know all about non-bank fixed deposits
Carnival of Indian Personal Finance Blogs #3

MEXING: CaℒL Giℛℒ In Hoshiarpur 09855660911...
Sakeela.CaℒL Giℛℒs In Kharar 0985566O911...
NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...

Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive