Interest Rates

w.e.f. May 27th, 2022
Savings Account

SAVING BANK ACCOUNTS 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% 6.75% 6.25%
548 days to 729 days 6.50% 6.50% 7.00% 7.00%
730 days to 998 days 7.00% 7.00% 7.00% 7.50%
999 days and above 5.50% 5.75% 5.75% 6.00%

Tax Saver Fixed Deposit

Tenure RATE OF INTEREST (%p.a.)
NORMAL SENIOR CITIZEN
5 years 6.25% 6.75%

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 6.50% 7.00%
2 years to less than 3 years 7.00% 7.50%
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.
  • 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) (w.e.f. June 6th, 2022)

4.40% + 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.

Minimum Lending Rate (MLR) (w.e.f. June 1st, 2022)

8.35%

 

Service Charges