IDBI Bank Loans Become Cheaper

By siliconindia  |  Wednesday, April 18, 2012

Mumbai: IDBI Bank’s loans, linked to Base Rate/BPLR, will become cheaper following a 25 bps reduction in Base Rate (to 10.50 percent) and BPLR (to 15.00 percent), with effect from April 20, 2012.

IDBI Bank has taken this pro-active step, keeping in view the recent policy measures announced by the RBI and the emerging market conditions expected to arise out of the transmission of these monetary measures. The Bank has also decided to reduce the Retail Term Deposit Rates by 10-50 bps in various buckets having maturity of ‘six months and above.'

Effective April 20, 2012, the revised interest rates on Retail Term Deposits will be as under:

Senior Citizens will be eligible for additional interest of 50-75 bps above the normal interest rate.

 

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