Interest Rates

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Interest Rate

Revised the Interest Rates on Term Deposits w.e.f. 18-05-2022. The revised rates of different maturities are given here under: -
Maturity Period Revised Interest Rates per annum w.e.f 18.05.2022
07 days to 30 days 2.90%
31 days to 45 days 3.00%
46 days to 90 days 3.50%
91 days to 180 days 4.00%
181 days to 270 days 4.40%
271 days to less than 1 year 4.50%
1 year to less than 2 years 5.20%
2 years to less than 3 years 5.25%
3 years to less than 5 years 5.45%
5 years to 10 years 5.50%

 

Note:
  • Minimum tenure of Deposit is 7 days and no interest is payable for the deposits prematurely withdrawn within a period of 7 days from the date of deposit.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 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.
  • Domestic Term Deposits of serving Staff members shall continue to earn additional interest rate of 1% p.a. across all maturities.
  • Retired Staff Members over 60 Years of age shall continue to earn an additional interest rate of 1.50% p.a. across all maturities..

 

Interest rates for deposits of Rs.5 Crores and above w.e.f 11.02.2022. 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 14 days 2.75% 2.75% 2.75% 2.75%
15 days to 30 days 2.85% 2.85% 2.85% 2.85%
31 days to 60 days 3.00% 3.00% 3.00% 3.00%
61 days to 90 days 3.10% 3.10% 3.10% 3.10%
91 days to 180 days 3.25% 3.25% 3.25% 3.25%
181 days to 270 days 3.25% 3.25% 3.25% 3.25%
271 days to less than 1 years 3.75% 3.75% 3.75% 3.75%
1 year to 5 years 4.00% 4.00% 4.00% 4.00%

 

Note:
  • Minimum tenure of Deposit is 7 days and no interest is payable for the deposits prematurely withdrawn within a period of 7 days from the date of deposit.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
  • Splitting of deposits to take advantage of higher rate is not allowed.
  • Additional interest rate applicable for Senior Citizens and Bank’s Staff shall be allowed on these deposits.