Deposit Rates

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The Revised Rate of Interest on Term Deposits w.e.f. 1st January, 2023 are as under:

Deposits without Premature Withdrawal Option*                                                                  (All rates are per annum)

Amounts above Rs 15 Lacs & below Rs 2 Crore Tenor Individuals, HUF, Co-op. Societies/ Non Scheduled UCBs/ Regd. Trusts &  All other categories of depositors/NRO/NRE Senior Citizens Residents Only
390 days 7.00% 7.25%
720 days 7.25% 7.50%

Deposits with Premature Withdrawal Option*                                                                  (All rates are per annum)

Days/Years Inclusive Individuals, HUF, Co-op. Societies/ Non Scheduled UCBs/Regd. Trusts & All other categories of depositors/NRO/NRE Senior Citizens Residents Only
  Below Rs. 2 Cr. Rs. 2 Cr. and above Below Rs. 2 Cr. Rs. 2 Cr. and above
15 days to 45 days 3.50% 3.50% 3.75% 3.75%
46 days to 84 days 4.00% 4.00% 4.25% 4.25%
85 days 4.00%  4.00% 4.25% 4.25%
 86 days to 90 days 4.00% 4.00% 4.25%  4.25%
91 days to 179 days 5.00% 5.00% 5.25% 5.25%
180 days  5.50% 5.50% 5.75% 5.75%
181 days to 329 days 5.30% 5.10% 5.55% 5.35%
330 days 6.25% 5.75% 6.75% 6.25%
331 days to 389 days 5.40% 5.40% 5.65% 5.65%
390 days 6.75% 6.50% 7.25% 7.00%
391 days to 480 days 5.40% 5.40% 5.65% 5.65%
481 days to 719 days 6.00% 5.75% 6.25% 6.00%
720 days 7.00% 6.25% 7.50% 6.75%
721 days to 780 days 6.00% 5.75% 6.25% 6.00%
781 days to 36 months 6.50% 6.00% 6.75% 6.25%
Above 36 months to less than 39 months 6.75% 6.00% 7.25% 6.50%
39 months  7.00% 6.25% 7.50% 6.75%
Above 39 months up to 60 months  6.75% 6.00% 7.25% 6.50%
Above 60 months to 120 months 6.50% 6.00% 7.25% 6.25%
Tax exemption Scheme (5 Years) 6.75% NA 6.75% NA

Note:

Penalty of 1% will be charged on the applicable rate for the period run in case of pre-mature closure of any term deposit with or without re-investment.