Interest Rates & Charges

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Interest Rates & Charges

Interest Rates List


Interest Rates on Savings Bank Deposit :

Please refer to our circular no. HO/09/PLN/BR/2016-17/284, dated 21.03.2017 related to revision of interest rate on term deposits.

Keeping in view, the present interest rate scenario and also to keep pace with trends in a competitive environment, it has been decided to revise the rate of interest on Savings deposits and Term deposits (less than 01 crore) w.e.f. 01.11.2017 as under:-

S.No. Particulars Existing Interest Rates Revised Rate of interest (w.e.f. 01.11.2017)

01.

Balance up to 50 Lakh

4.00% p.a

3.50% p.a

02.

Above 50 Lakh

4.00% p.a

4.00% p.a


Interest Rates on Domestic Term Deposit

S. No. Maturity Range Existing Rates (01.12.2016 to 31.10.2017) Revised Rate (w.e.f.01.11.2017)
01. 15 days to 45 days 4.50% p.a 4.50% p.a
02. 46 days to 90 days 6.50% p.a 5.75% p.a
03. 91 days to 179 days 6.50% p.a 6.25% p.a
04. 180 days to 269 days 6.50% p.a 6.30% p.a
05. 270 days to 364 days 7.00% p.a 6.40% p.a
06. 1 year to less than 2 years 7.00% p.a 6.75%  p.a
07. 2 Years to upto 3 Years 7.00% p.a. 6.50 % p.a.
08. Above 3 Years to 5 Years 6.50 % p.a. 6.50 % p.a
09 Above 5 Years to 10 Years 6.50 % p.a. 6.50 % p.a
  • The revised interest rate shall be applicable on domestic term deposit accounts opened or renewed on or after 01.11.2017.
  • The additional incentive on rate of interest to Senior Citizens @ 0.60% and to staff @ 1.00% over the card rates in all maturity period will remains unchanged.
  • The Term deposits rates will be compounded on quarterly rest for the deposits held for the period 180 days & above.
  • Tax at source be deducted as per norms applicable.
  • For Term deposits of Rs.20 lacs & below Rs.1.00 crore, additional interest @ 0.10% may be allowed by the Regional Manager on case to case basis on merit.
  • Above rates shall be applicable on all domestic term deposit of below Rs.1.00 crore.
  • Acceptance of bulk term deposits of Rs.1.00 crore and above shall be at the sole discretion of the bank and rate of interest for bulk deposits shall be applicable @ 6.5% for the period of one year subject to change without prior notice.
  • No additional interest for senior citizen, staff etc.is applicable on bulk deposits.

Branches are advised to note the above changes and display within Branch Premises at prominent places

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