Interest Rates
w.e.f. November 25th, 2020
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 on Saving Bank is calculated on daily basis and paid/credited on quarterly basis.
Fixed Deposits
Tenure Period | RATE OF INTEREST (%p.a.) | |||
---|---|---|---|---|
NORMAL | SENIOR CITIZEN | |||
Below 25 Lacs | Above 25 Lacs | |||
7 days to 14 days | 3.50% | 3.75% | 4.00% | |
15 days to 29 days | 4.00% | 4.25% | 4.50% | |
30 days to 90 days | 5.00% | 5.25% | 5.50% | |
91 days to 179 days | 5.50% | 5.75% | 6.00% | |
180 days to 269 days | 5.75% | 6.00% | 6.25% | |
270 days to 364 days | 5.75% | 6.00% | 6.25% | |
365 days to 547 days | 6.00% | 6.25% | 6.50% | |
548 days to 729 days | 6.50% | 6.75% | 7.00% | |
730 days and above | 5.50% | 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 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
Service Charges
- Savings Accounts (w.e.f. April 01, 2020)
- Current Account (w.e.f April 01, 2020)
- Loans and Advances (w.e.f April 01,2020)
- Savings Account (valid till March 31, 2020)
- Current Account (valid till March 31, 2020)
- Loans and Advances (valid till March 31, 2020)
- SHG Savings Account (valid till June 30, 2019)