Rate of Interest on Saving Deposit/Term Deposits with effect from 02.12.2023
| Sl. | Period | Existing rate | Revised rate | ||
| General | Sr. Citizen | General | Sr. Citizen | ||
| (A) | Saving Deposit | 2.70% | 2.70% | 2.70% | 2.70% |
| (B) | Term Deposit | Existing rate | Revised rate | ||
| 1 | 15 days to 29 days | 3.00% | 3.50% | 3.00% | 3.50% |
| 2 | 30 days to 45 days | 3.00% | 3.50% | 3.00% | 3.50% |
| 3 | 46 days to 90 days | 4.50% | 5.00% | 4.50% | 5.00% |
| 4 | 91 days to 179 days | 4.50% | 5.00% | 4.50% | 5.00% |
| 5 | 180 days to 210 days | 5.25% | 5.75% | 5.25% | 5.75% |
| 6 | 211 days to less than 1 year | 5.75% | 6.25% | 5.75% | 6.25% |
| 7 | 1 year to less than 2 years | 6.75% | 7.25% | 6.80% | 7.30% |
| 8 | 2 years to less than 3 years | 6.75% | 7.25% | 7.00% | 7.50% |
| 9 | 3 years to less than 5 years | 6.25% | 6.75% | 6.50% | 7.00% |
| 10 | 5 years to less than 8 years | 6.25% | 6.75% | 6.50% | 7.50% |
| 11 | 8 years or above | 6.25% | 6.75% | 6.50% | 7.50% |
Note:
- No interest will be paid, if encashed within 14 days from the date of deposit.
- Premature encashment of term deposit will be charged a penal interest of 1% for the period of deposit maintained with the Bank with effect from the date of opening of the account. There will be penal interest for the premature encashment by the nominee or legal heir(s) of a deceased depositor.
- The revised rate shall only to fresh deposits and renewal of existing deposit on maturity. These rates are subject to revision from time to time.