REG: REVISION OF INTEREST RATES ON TERM DEPOSITS W.E.F. 15.10.2024
1. Revised Interest Rates on Domestic Term Deposits of less than Rs.1.00 crores
| Maturity Period | Interest Rates for Public (in % p.a.) | Effective Yield per annum on CCR for public (in % p.a.) | Senior Citizen Interest Rates (in % p.a.) | Senior Citizens Effective Yield per annum on CCR (in % p.a.) |
| 07 days to 30 days |
3.50 |
3.50 |
4.00 |
4.00 |
| 31 days to 45 days |
3.50 |
3.50 |
4.00 |
4.00 |
| 46 days to 90 days |
5.25 |
5.25 |
5.75 |
5.75 |
| 91 days to 180 days |
5.00 |
5.00 |
5.50 |
5.50 |
| 181 days to 270 days |
6.00 |
6.01 (for 181 days) |
6.50 |
6.51 (for 181 days) |
| 271 days to less than 1 year |
6.00 |
6.05 (for 271 days) |
6.50 |
6.56 (for 271 days) |
| 1 year to less than 2 years |
7.00 |
7.18 (for 1 year) |
7.50 |
7.71 (for 1 year) |
| 2 years to less than 3 years |
7.00 |
7.44 (for 2 years) |
7.50 |
8.01 (for 2 years) |
| 3 years to less than 5 years |
6.50 |
7.11 (for 3 years) |
7.00 |
7.71 (for 3 years) |
| 5 years to 10 years |
6.50 |
7.61 (for 5 years)
9.05 (for 10 years) |
7.00 |
8.29 (for 5 years)
10.02 (for 10 years) |
Terms and conditions:
- Minimum tenure of Deposit is 7 days and no interest is payable for the deposits prematurely withdrawn within a period of 7 days from the date of deposit.
- The revised rate of interest will be applicable for new deposits and renewal of existing deposits.
- The revised rates shall also be applicable on Tax Saver Scheme of the Bank.
- Domestic Term Deposits of serving Staff members shall continue to earn additional interest rate of 1.00% p.a. across all maturities.
- Retired Staff Members over 60 Years of age shall continue to earn an additional interest rate as per extant norms.
2. Revised Interest Rates on Domestic Term Deposits (withdrawable) of Rs.1.00 crores to Less than Rs.5.00 crores
| Maturity Period | Interest Rates for Public (in % p.a.) | Effective Yield per annum on CCR for public (in % p.a.) | Senior Citizen Interest Rates (in % p.a.) | Senior Citizens Effective Yield per annum on CCR (in % p.a.) |
| 07 days to 30 days |
4.75 |
4.75 |
5.25 |
5.25 |
| 31 days to 45 days |
4.75 |
4.75 |
5.25 |
5.25 |
| 46 days to 90 days |
6.00 |
6.00 |
6.50 |
6.50 |
| 91 days to 180 days |
6.25 |
6.25 |
6.75 |
6.75 |
| 181 days to 270 days |
6.50 |
6.51 (for 181 days) |
7.00 |
7.02 (for 181 days) |
| 271 days to less than 1 year |
6.75 |
6.82 (for 271 days) |
7.25 |
7.33 (for 271 days) |
| 1 year to less than 2 years |
7.10 |
7.29 (for 1 year) |
7.60 |
7.82 (for 1 year) |
| 2 years to less than 3 years |
6.50 |
6.88 (for 2 years) |
7.00 |
7.44 (for 2 years) |
| 3 years to less than 5 years |
6.25 |
6.82 (for 3 years) |
6.75 |
7.41 (for 3 years) |
| 5 years to 10 years |
6.00 |
6.94 (for 5 years)
8.14 (for 10 years) |
6.50 |
7.61 (for 5 years)
9.05 (for 10 years) |
Terms and conditions:
- Minimum tenure of Deposit is 7 days and no interest is payable for the deposits prematurely withdrawn within a period of 7 days from the date of deposit.
- The revised rate of interest will be applicable for new deposits and renewal of existing deposits of amount of Rs.1.00 crore to less than Rs.5.00 crore.
- Domestic Term Deposits of serving Staff members shall continue to earn additional interest rate of 1.00% p.a. across all maturities.
- Retired Staff Members over 60 Years of age shall continue to earn an additional interest rate as per extant norms.
- Splitting of term deposits in this segment on same day and for same tenure is not allowed.
3. Revised Interest Rates on Domestic Term Deposits (Non-withdrawable) of Rs.1.00 crores to Less than Rs.5.00 crores
| Maturity Period | Interest Rates (in % p.a.) | Effective Yield per annum on CCR (in % p.a.) |
| 91 days to 180 days |
6.35 |
6.35 (for 91 days) |
| 181 days to 270 days |
6.60 |
6.62 (for 181 days) |
| 271 days to less than 1 year |
6.85 |
6.92 (for 271 days) |
| 1 Year to less than 2 years |
7.20 |
7.39 (for 1 year) |
| 2 years to less than 3 years |
6.60 |
6.99 (for 2 years) |
Terms and conditions: