Domestic Term Deposits
[ % per annum with effect from 10th June, 2013]
1. For General Public :
Maturity Band
|
Less than Rs.1 Crore
|
Rs.1 Crore to Rs. 5 Crore
|
7 days to 14 days
|
6.00
|
6.00
|
15 days to 30 days
|
6.50
|
6.50
|
31 days to 45 days
|
7.00
|
7.00
|
46 days to 89 days
|
7.50
|
7.50
|
90 days to 179 days
|
8.00
|
8.00
|
180 days to 269 days
|
8.25
|
8.25
|
270 days to 363 days
|
8.50
|
8.50
|
364 days only
|
9.00
|
8.80
|
12 months only
|
9.00
|
8.80
|
Above 12 months to less than 2 years
|
9.00
|
8.80
|
2 years to less than 5 years
|
9.00
|
8.80
|
5 Years & above
|
8.75
|
8.75
|
|
NEW DEPOSIT SCHEME AT ATTRACTIVE RATE OF INTEREST [w.e.f. 07.01.2013] :
Corp Power Plus: for 555 days at 9.10% p.a
Minimum deposit : Rs.10,000/- Maximum: Rs.1 Crore
No penalty on pre-mature withdrawal.
The Deposit scheme is also available for NRE Term Deposits
For NRE Term deposits pre-mature penalty is applicable.
Co-operative Banks can also open these deposits
This deposit can be opened online(e-Deposit)
No interest will be paid on any Term Deposit prematurely closed in less than 7 days.
2. For Senior Citizens:
Duration
|
Less than Rs.1 Crore
|
91 Days to 179 days
|
8.50
|
180 days to 269 days
|
8.75
|
270 days to 363 days
|
9.00
|
364 days only
|
9.50
|
12 months only
|
9.50
|
Above 12 months to less than 2 years
|
9.50
|
2 years to less than 5 years
|
9.50
|
5 years and above
|
9.25
|
|
NEW DEPOSIT SCHEME AT ATTRACTIVE RATE OF INTEREST [w.e.f. 07.01.2013] :
| v | Contact your nearest Branch for Deposits of Rs. 1 Crore and above |
| v | Penalty for pre-mature withdrawal at the rate of 1% p.a. will be charged on all fresh & renewed deposits on all maturities. However, Penalty on premature withdrawal is waived for all deposits of Rs.1 Crore and above, accepted/renewed for a period up to & inclusive of 180 days w.e.f.12-12-2011. |
| v | The revised rates will apply to fresh deposits accepted and on renewal of deposits maturing on or after the effective date. However, in case of premature renewal of deposits, including staff deposits, penalty of 1% will be applied, for the deposits accepted on or after 25.11.2010. |
| v | Additional Interest benefit for Senior Citizens will be 0.50% for deposits of less than Rs.1 Crore effective from 22.05.2012 for all maturities of 91 days and above and for deposits held under NRO/NRE/Capital Gains Account Scheme-1988.. |
| v | Additional rate of interest for Senior Citizens is not available for deposits of Rs.1 Crore & above and for deposits held under NRO/NRE/Capital Gains Account Scheme-1988. |
| v | No interest shall be paid on any Term Deposit prematurely closed in less than 7 days. |
NRE TERM DEPOSITS
[ % per annum with effect from 10th June, 2013 ]
Maturity Period
|
Less than Rs.1 crore
|
12 months only
|
9.00%
|
above 12 months to less than 2 years
|
9.00%
|
2 years to less than 5 years
|
9.00%
|
5 years & above
|
8.75%
|
|
NEW DEPOSIT SCHEME AT ATTRACTIVE RATE OF INTERESTS [w.e.f. 07.01.2013] :
Corp Power Plus: for 555 days at 9.10% p.a
Minimum deposit : Rs.10,000/- Maximum: Rs.1 Crore
For NRE Term deposits pre-mature penalty is applicable.
| v | The above revised interest rates will apply only to fresh deposits accepted w.e.f. 07.01.2013. However, for the renewal of deposits within 14 days from due date (both days inclusive), the rate of interest payable on the amount of the deposit so renewed shall be the appropriate rate of interest for the period of renewal, as prevailing on the date of maturity or on the date when the depositor seeks renewal, whichever is lower |
| v | A penalty of 0.50% will be imposed for premature withdrawal of NRE Term deposits of above Rs.1 crore, accepted/renewed on or after 03.01.2012. . Applicable Rate of Interest for premature closure of deposits will be - applicable rate for the run period less 0.50%. In all other cases penalty for premature withdrawal is not stipulated. However, no interest shalll be paid , if any NRE Term deposit is closed prematurely within a period of 12 months from the date of deposit. |
| v | Please Note: NRNR and NRSR Schemes have been discontinued with effect from 1st April 2002. |
| v | No NRE Term Deposit will get any interest, if closed prematurely before completion of 12 months from the date of deposit |
| v | Interest Rate applicable for NRE Savings Bank Deposits is 4.00% P.A. with effect from 03.05.2011 |
Interest Rates on FCNR(B) Deposits
[With effect from 01.06.2013]
Period
|
USD
|
GBP
|
EUR
|
AUD
|
CAD
|
1 year to <2 years
|
2.69
|
2.88
|
2.39
|
5.34
|
3.79
|
2 years to <3 years
|
2.45
|
2.68
|
2.43
|
4.74
|
3.43
|
3 years to <4 years
|
3.64
|
3.78
|
3.57
|
5.93
|
4.55
|
4 years to <5 years
|
3.90
|
3.96
|
3.74
|
6.16
|
4.70
|
5 years
|
4.16
|
4.15
|
3.93
|
6.32
|
4.85
|
|
| v | The above revised interest rates will apply only to fresh deposits and on renewal of deposits maturing on or after 1st June 2013 |
| v | With regard to interest rates on RFC accounts denominated in USD, GBP and EUR, we advise that: |
| v | Interest rate on RFC-SB accounts in USD, GBP & EUR is 0.50% p.a. |
| v | On RFC-Term deposits The rates are applicable to RFC deposits for respective tenures upto 3 years. In case of RFC deposits with maturities less than one year (1 month, 2 months, 3 months and 6 months) the interest rate shall be prevailing LIBID less 24 basis points for the respective maturities and the same shall be advised to DBs and Zonal Offices by IIBD, Mumbai. |
| v | In case of RFC deposits for periods beyond one year and up to a maximum of 3 years the rates as applicable to FCNR (B) deposits of respective tenures shall apply. |
Good News for Savings Bank Account Holders:
Rate of Interest on Domestic Savings Bank Account: 4.00%
"Interest on Savings Bank Accounts will be calculated based on daily products [ on the day end balances] effective from 01.04.2010 and will be credited to the accounts on half-yearly basis as per the existing practice".
Interest Rates at a Quick Glance :
Interest rates are liable to change without prior notice
