The Rate of Interest on Deposits has been revised in the Board of Directors Meeting dated 29/10/2024 Following is the revised chart for Interest on Deposits.
| With Effect From 11/11/2024 | ||||||||
| No. | Period | Domestic Deposits | NRE Deposits (In Rs.) |
|||||
|---|---|---|---|---|---|---|---|---|
| General & Bulk Deposit less than Rs.100 Lakh | Bulk Deposits of Rs 100 Lakh and above |
Senior Citizen | ||||||
| 1 | 7 Days to 14 days | 3.00% | 3.00% | 3.25% | N.A. | |||
| 2 | 15 Days to 90 Days | 4.00% | 3.25% | 4.25% | N.A. | |||
| 3 | 91 Days to 180 Days | 4.50% | 4.25% | 4.75% | N.A. | |||
| 4 | 181 Days to below 365 Days | 5.75% | 4.75% | 6.25% | N.A. | |||
| 5 | 12 Months & Upto 18 months | 6.75% | 5.85% | 7.25% | 6.75% | |||
| 6 | 18 Months | 7.00% | 5.85% | 7.50% | 7.00% | |||
| 7 | Above 18 Months to 3 years | 6.85% | 6.00% | 7.35% | 6.85% | |||
| 8 | Above 3 Years to 5 Years | 6.50% | 6.50% | 7.00% | 6.50% | |||
| 9 | Above 5 Years to 10 Years | 6.30% | 5.70% | 6.80% | 6.30% | |||
| 10 | Tax Saving Scheme for deposit of an individual / HUF for 5 years for exemption under Sec.80C of the Income Tax Act, 1961, (Excluding RD Deposit), Maximum Rs. 1.50 Lakh. | 6.75% | N.A. | 6.75% | N.A. | |||
| 11 | 777 Days Scheme ( under Monthly/Quarterly Interest ) is Discontinued w.e.f. 11/11/2024. | 12 | Interest Rates on Savings Deposit @ 2.75% p.a. with effect from 15/04/2021. | 13 | Term Deposits includes all types of Term Deposits including Recurring Deposits. | 14 | Staff and Retired Staff including Senior Citizen Staff will get 1% additional interest applicable to general category, except for Tax Saving Scheme. | |
| 15 | In case of premature withdrawal of term deposit, the rate of interest shall be 1% below the contracted rate or the rate applicable at the time of Deposits for the period Deposit remained with the Bank, whichever is lower. | |||||||
Note :
1) The above changes are effective from 11/11/2024
