Deposit Products
Deposit Interest Rates
- For Senior Citizens upto Rs. 1.00 Cr. additional rate of interest payable would be 0.50% p.a. over the card rate on the deposits of 15 days to 10 years in respect of Short Term Deposits,Fixed Deposits, Tax Savings Term Deposits, Reinvestment Plan Schemes, Recurring Depostis and Variable Recurring Deposits.
- The above interest rates are applicable to NRE TERM DEPOSITS also. Subject to compliance of all the extant exclusive/specific RBI guidelines on NRE accounts relating to minimum/ maximum amount of term deposits, category of customer etc.
- The revised interest rates on domestic term deposits are applicable only to fresh deposits and renewal of maturing deposits on or after 01-01-2024.
Savings Bank Interest Rate is 3.5%
The interest rates on domestic term deposits stand revised as under with effect from 01-01-2024 in tune with the market trends.
The existing and revised rates of interest for Term Deposits are as follows :
| PERIOD | Effective Rate of Interest (Less than Rs 1 Crore) |
|---|---|
| 7 days to 14 days | -- |
| 15 days to 30 days | 4.00 |
| 31 days to 45 days | 4.00 |
| 46 days to 90 days | 5.00 |
| 91 days to 120 days | 5.50 |
| 121 days to 180 days | 6.00 |
| 181 days to 364 days | 6.50 |
| 1 year to less than 2 years | 7.50 |
| 2 years to less than 3 years | 7.75 |
| 3 years to less than 5 years | 7.50 |
| 5 years and above | 7.50 |