Interest Rates

w.e.f. August 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 3.75%
Above 10 Lacs to 25 Lacs 4.00%
Above 25 Lacs to 50 Lacs 4.25%
Above 50 Lacs to 1 Crore 4.75%
Above 1 Crore to 2 Crore 5.00%
Above 2 Crore to 7 Crore 5.50%
Above 7 Crore 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 4.00% 4.25% 4.25% 4.50%
30 days to 90 days 4.50% 4.75% 4.75% 5.00%
91 days to 179 days 5.00% 5.25% 5.25% 5.50%
180 days to 269 days 5.75% 6.00% 6.00% 6.25%
270 days to 364 days 5.75% 6.00% 6.00% 6.25%
365 days to 547 days 6.00% 6.25% 6.25% 6.50%
548 days to 729 days 6.50% 6.75% 6.75% 7.00%
730 days to 998 days 6.50% 6.75% 6.75% 7.00%
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 5.75% 6.25%
9 months to less than 12 months 5.75% 6.25%
1 year to less than 18 months 6.00% 6.50%
18 months to less than 2 years 6.50% 7.00%
2 years to less than 3 years 6.50% 7.00%
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