Interest Rates

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Interest Rate

REVISED INTEREST RATES ON TERM DEPOSITS W.E.F 27.12.2018
Maturity Period Revised Interest Rates % p.a. w.e.f 27.12.2018
7 days to 30 days 5.00 %
31 days to 45 days 5.50 %
46 days to 90 days 6.00 %
91 days to 180 days 6.25%
181 days to 270 days 6.80 %
271 days to less than 1 year 7.05%
1 years to less than 2 years 7.30%
2 years to less than 3 years 7.30 %
3 years to less than 5 years 7.30 %
5 years to 10 years 6.50 %
  • The revised interest rates shall apply to fresh and on renewal of existing deposits.
  • Term deposits of Senior Citizens of over 60 years of age will attract additional interest of 0.50 % per annum for all above maturity slabs.
  • Revised rates shall be applicable on tax saver scheme also.
  • Branches are allowed to extend 0.50% p.a. higher rate of interest on single deposit of Rs.50 lac & above on maturity slabs of one year and above after obtaining prior permission in writing from Head Office.
  • Domestic Term Deposits of serving staff members shall continue to earn additional interest rate of 1% across all maturities.
  • Retired staff members over 60 years of age shall be paid additional interest rate of 1.50% across all maturities.
  • For Institutional deposits, branches shall seek prior approval from GAD section, H.O.Jammu before accepting deposits.