Title fo the Fixed Depoist

Rate of Interest on Deposit

These revised rates of interest on term deposit will be applicable on fresh  or on renewal of existing deposit   on maturity on or after 01-08-2022

Sr.No.

Type of Deposit/Period

Interest Rate(% p.a)

1

Savings

3.00%  (01-08-2022)

2

Term Deposits

 

 

7 days to 14 days

3.50%

i)

15 days to 45 days

3.60%

ii)

46 days to 90 days

4.00%

iii)

91 days to 179 days

4.60%

iv)

180 days  but less than 1 year

5.50%

v)

1 year but less than 2 years

6.00%

vi)

2 years but less than 3 years

6.00%

vii)

3 years but less than 5 years

6.00%

viii)

5 years but less than 8 years

6.00%

ix)

          8 years and above

6.00%

x)

Special Scheme (Flat rate) for 500 days

 

3

Saving bank P.F

6.00%
  1. The modified interest rates on term deposits will be applicable only on new/fresh deposits and on term deposits maturing on or after 10-08-2022.
  2. 1% additional rate of interest on deposits in the name of members or retired members  of bank’s staff either singly and jointly with any other member or members of his/her family subject to the declaration that the money belongs to him/them only.
  3. Extra 0.50 % interest rate shall be allowed to the Senior Citizens on term deposit.
  4. No intt. shall be paid if the deposit remains with the bank below 14 days on term deposits in case of premature withdrawal.
  5. 1% penal intt. on pre-mature withdrawal before due date by customer/staff will not be charged.
  6. Loan/Cash Credit facility will be provided to the depositor to the extent of 90% of their term deposit +intt. accrued thereon.  The bank will charge 2% more int. on such loan/cash credit which is paid on FD/STD.No more intt. will be charged from staff member on loan/cash credit facility which is paid on FD/STD.
  7. The rate of intt. On term deposits of above Rs.5.00 crores shall be decided by H.O. from time to time and the branches shall obtain prior permission for accepting single domestic term deposits of above Rs.5.00 crores from H.O.