Deposit Rates

Ensuring your Savings are Built Up

Home > Rate Of Interest > Deposit Rates

The Revised rate changes that will be effected in the system w.e.f. 19th Sep, 2022 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 6.00% 6.25%
720 days 6.25% 6.50%

 

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 3.40% 3.40% 3.65% 3.65%
46 days to 90 days 4.00% 3.75% 4.25% 4.00%
91 days to 179 days 4.30% 4.15% 4.55% 4.40%
180 days  4.50% 4.25% 4.75% 4.50%
181 days to 329 days 5.20% 4.60% 5.45% 4.85%
330 days 5.80% 5.30% 6.05% 5.55%
331 days to 389 days 5.30% 5.00% 5.55% 5.25%
390 days 5.80% 5.30% 6.05% 5.55%
391 days to 480 days 5.30% 5.00% 5.55% 5.25%
481 days to 719 days 5.80% 5.30% 6.05% 5.55%
720 days 6.00% 5.30% 6.25% 5.55%
721 days to 780 days 5.80% 5.30% 6.05% 5.55%
781 days to 36 months 6.25% 5.50% 6.50% 5.75%
Above 36 months to 60 months 6.50% 5.55% 6.75% 5.80%
Above 60 months to 120 months 6.50% 5.55% 7.25% 5.80%
Tax exemption Scheme (5 Years) 6.50% NA 6.50% 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.

 

Terms & Conditions for Deposits without Premature Withdrawal Option:

  1. The deposits will not be allowed to be closed before maturity
  2. The Bank may allow premature withdrawal of these deposits in the exceptional circumstance such as in the event of any direction from any judiciary /statutory and / or regulatory authorities’ cases or deceased claim settlement cases. In the event of premature withdrawal of these deposits, interest to be paid at the prevailing card rate of ‘deposits with premature withdrawal option’ for the period for which the deposit was actually held with the Bank. Penal Interest of 1 % p.a. on the applicable rate as per the prevailing card rate for the actual period run will be charged in case of pre-mature closure of FDs, except in case of deceased claim settlement.
  3. The FD under the scheme will have cumulative interest which will be paid at the time of maturity. Interest Payout option will not be available.
  4. Retired Ex-Staff (Senior Citizen) will get benefit of additional interest rate only for one of the two categories. I.e. either Ex-Staff (retired) or Senior Citizen.
  5. Auto Renewal Option will not be available. However the customer may invest the maturity amount in an FD of same/any other tenor with or without the option of Premature withdrawal for which the request can be made with the Branch.