w.e.f. December 1st, 2021
Savings Account
| SAVING BANK ACCOUNT | RATE OF INTEREST (%p.a.) | |
|---|---|---|
| NORMAL | ||
| Balance upto 1 Lac | 3.50% | |
| Above 1 Lac to 5 Lacs | 3.50% | |
| Above 5 Lacs to 10 Lacs | 3.50% | |
| Above 10 Lacs to 25 Lacs | 4.00% | |
| Above 25 Lacs to 50 Lacs | 4.00% | |
| Above 50 Lacs to 1 Crore | 4.50% | |
| Above 1 Crore to 2 Crore | 5.00% | |
| Above 2 Crore to 5 Crore | 7.00% | |
| Above 5 Crore to 7 Crore | 7.00% | |
| 7 Crore and above | 7.00% | |
Note:
- Interest is calculated on day - end balances maintained in the savings account and paid out on a quarterly basis.
- The interest is calculated basis incremental balance slabs.
Fixed Deposits
| Tenure Period | RATE OF INTEREST (%p.a.) | |||
|---|---|---|---|---|
| NORMAL | SENIOR CITIZEN | |||
| Below 25 Lacs | 25 Lacs to below Rs.2 Crores | 2 Crores and above | ||
| 7 days to 14 days | 3.50% | 3.75% | 3.75% | 4.00% |
| 15 days to 29 days | 3.75% | 4.00% | 4.00% | 4.25% |
| 30 days to 90 days | 4.25% | 4.50% | 4.50% | 4.75% |
| 91 days to 179 days | 4.75% | 5.00% | 5.00% | 5.25% |
| 180 days to 269 days | 5.50% | 5.75% | 5.75% | 6.00% |
| 270 days to 364 days | 5.50% | 5.75% | 5.75% | 6.00% |
| 365 days to 547 days | 5.75% | 6.00% | 6.00% | 6.25% |
| 548 days to 729 days | 6.25% | 6.75% | 6.75% | 6.75% |
| 730 days to 998 days | 6.25% | 6.75% | 6.75% | 6.75% |
| 999 days and above | 5.50% | 5.75% | 5.75% | 6.00% |
Recurring/Flexi Recurring Deposit
| Tenure | RATE OF INTEREST (%p.a.) | |
|---|---|---|
| NORMAL | SENIOR CITIZEN | |
| 6 months to less than 9 months | 5.50% | 6.00% |
| 9 months to less than 12 months | 5.50% | 6.00% |
| 1 year to less than 18 months | 5.75% | 6.25% |
| 18 months to less than 2 years | 6.25% | 6.75% |
| 2 years to less than 3 years | 6.25% | 6.75% |
| 3 years to 10 years | 5.50% | 6.00% |
(Flexi Recurring Deposit Accounts are opened for term expressed in multiple of quarters. Interest for terms of 6 months and above is compounded quarterly and payable at maturity.)
Note:
- The incentive for Senior Citizens/ Staff will be an additional spread of 0.5% over the above card rates.
- High value deposits of Rs 25 lacs and above will be at an additional spread of 0.25% over the card rates.
- Card rates up to 6 months are on simple interest basis. All rates above 6 months shall be quarterly compounded.
- Tax at source is deducted as per Income Tax regulations prevalent from time to time.
- A customer can avail additional interest under only one scheme (either in Sr. Citizen or in High Value)
- For Senior citizen age of the first applicant should be 60 years or above. (HUF cannot avail Senior citizen benefits)
- Please note that premature payment will attract 1% penalty on the interest for the period, which the deposit has run, or card rate of original deposit whichever is less
External Benchmark Lending Rate (EBLR)
4.00% + Spread
Note:
- The external benchmark used in the EBLR is the RBI Repo Rate which may be subject to change by the Reserve Bank of India.
- All applicable loans disbursed post 26 April 2021 are under the EBLR framework.
- EBLR would be subject to change by the bank based on changes to the external benchmark and the spread from time to time.
Service Charges
- Savings Accounts (w.e.f. November 15, 2021)
- Savings Accounts (w.e.f. November 01, 2021)
- Current Accounts (w.e.f. May 06, 2021)
- Cash Credit & Overdraft (w.e.f. May 06, 2021)
- Loans and Advances (w.e.f April 01,2020)
- SHG Savings Account (valid till June 30, 2019)
