IDBI Bank said on Monday it will raise base rate by 50 basis points to 9 per cent and benchmark prime lending rate by 25 basis points to 13.75 per cent on higher cost of funds, effective January 1.
It has also raised retail term deposit rates by 25 to 100 basis points in different maturity buckets, effective December 15.
| Tenor | IDBI Bank Rate (%) | |||
| Upto Rs.15 lakh | Above Rs.15 lakh upto Rs.1 cr | |||
| Existing | w.e.f. December 15, 2010 | Existing | w.e.f. December 15, 2010 | |
| 15-45 days | 3.25 | 3.25 | 3.25 | 3.25 |
| 46-90 days | 4.5 | 5.5 | 4.5 | 5.5 |
| 91 days - < 6 months | 6 | 6.5 | 6 | 6.5 |
| 6 months-299 days | 6.85 | 7.25 | 6.85 | 7.25 |
| 300 days - <500 days | 7.25 | 8.15 | 7.25 | 8.15 |
| 500 days | 7.75 | 8.5 | 7.75 | 8.6 |
| >500 days - <2years | 7.6 | 8.25 | 7.6 | 8.5 |
| 2 years - <1100 days | 8 | 8.25 | 8 | 8.5 |
| 1100 days | 8.25 | 8.75 | 8.25 | 8.75 |
| > 1100 days – 5 yrs | 8 | 8.6 | 8 | 8.6 |
| > 5 yrs-7 yrs | 8 | 8.5 | 8 | 8.5 |
| >7 yrs – 10 yrs | 8.25 | 8.5 | 8.25 | 8.5 |
| Tax Savings Suvidha (5 years lock in ) | 8 | 8.5 | - | 8.5 |
