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.