Interest Rates

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Interest Rate

Revised the Interest Rates on Term Deposits w.e.f. 11-08-2020. The revised rates of different maturities are given here under: -
Maturity Period Revised Interest Rates per annum w.e.f 11.08.2020
07 days to 30 days 3.00%
31 days to 45 days 3.25%
46 days to 90 days 3.75%
91 days to 180 days 4.00%
181 days to 270 days 4.30%
271 days to less than 1 year 4.50%
1 year to less than 2 years 5.10%
2 years to less than 3 years 5.20%
3 years to less than 5 years 5.25%
5 years to 10 years 5.25%
  • The above rates are applicable to Fresh Term Deposits & Renewal of Term Deposits.
  • The revised rates shall also be applicable on Tax Saver Scheme of the Bank.
  • Additional interest rate of 0.50% p.a. to senior citizens shall be allowed across all maturities.
  • Retired Staff Members over 60 Years of age shall continue to earn an additional interest of 1.50% across all maturities.

 

Interest rates for deposits of Rs.5 Crores and above w.e.f 03.02.2021. The interest across different maturities and slab is given as under: -
Maturity Period 5 < 10 Cr 10 < 25 Cr 25 < 50 Cr 50 cr and above
07 days to 30 days 2.95% 2.95% 2.95% 2.95%
31 days to 45 days 3.00% 3.00% 3.00% 3.00%
46 days to 90 days 3.25% 4.25% 4.25% 4.25%
91 days to 180 days 4.00% 4.25% 4.25% 4.25%
181 days to 1 year 4.55% 4.55% 4.55% 4.55%
1 year to less than 2 years 4.90% 4.90% 4.90% 4.90%

 

Terms & Conditions
  • Minimum tenure of Deposit is 7 days and no interest is payable for the deposits prematurely withdrawn within a period of 7 days from the date of deposit.
  • The revised rate of interest will be applicable for new deposits and renewal of existing deposits
  • The benefit of additional interest rate on deposits on account of being bank’s own staff( including retired) or senior citizen shall be applicable on these deposits