Mumbai, April 01, 2016: IDBI Bank announces Marginal Cost of Funds based Lending Rates (MCLR) as under:
| Tenor | MCLR ( in % ) |
| Overnight | 8.85 |
| One Month | 9.25 |
| Three Months | 9.35 |
| Six Months | 9.40 |
| One Year | 9.45 |
| Two Years | 9.75 |
| Three Years | 9.90 |
Interest rate on all rupee loans sanctioned and credit limits renewed w.e.f. April 01, 2016 will be priced with reference to MCLR benchmarks.
About the Bank
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.