Interest Rates

 

Rate of interest on Savings Bank w.e.f.01.04.2019

Balance upto ` 50 Lakhs

3.50% p.a.

Balance above ` 50 Lakhs

4.00% p.a.

Method of Calculation of interest

 

Calculation of interest will be done on daily product basis @3.50% p.a. for the day end balance upto ` 50 Lakhs and @ 4.00% p.a. for remaining balance above & above ` 50 Lakhs.

For example: “Account with balance of ` 60 lakhs, interest @ 3.50% p.a. will be paid on balance upto ` 50 lakhs and interest @ 4% p.a. will be paid on remaining balance of ` 10 lakhs.

 
Savings Bank Interest Rate - (Effective from 07-October 2017)

Balance below Rs.50 Lakhs - 3.50%

Balance of Rs.50 Lakhs and above - 4.00%

Interest rates on Term Deposits - DOMESTIC /NRO have been revised with effect from 12th November 2018

SL No

Period

Interest rates % (p.a)

 

 

Below

`1 Cr

Deposits ` 1 Crore & Above

`1 Cr

to

Less than

`5 Cr

`5 Cr

to

Less than

`25 Cr

`25 Cr

to

Less than

`50 Cr

`50 Cr

to

Less than

`75 Cr

`75 Cr

to

Less than

`100 Cr

`100 Cr

to

Less than

`200 Cr

`200 Cr

& above

1

7 days to 29 days

5.00

5.25

5.25

5.25

5.25

5.25

5.25

5.25

2

30 days to 45 days

5.50

5.25

5.25

5.25

5.25

5.25

5.25

5.25

3

46 days to 60 days

6.00

5.25

5.25

5.25

5.25

5.25

5.25

5.25

4

61 days to 90 days

6.00

5.25

5.25

5.25

5.25

5.25

5.25

5.25

5

91 days to 180 days

6.35

5.25

5.25

5.25

5.25

5.25

5.25

5.25

6

181 days to 269 days

6.50

6.00

6.00

6.00

6.00

6.00

6.00

6.00

7

270 days to less than 1 Year

6.60

6.00

6.00

6.00

6.00

6.00

6.00

6.00

8

1Year

6.80

6.00

6.00

6.00

6.00

6.00

6.00

6.00

9

More than 1Year to less than 2Years

6.80

6.00

6.00

6.00

6.00

6.00

6.00

6.00

10

2 Years

6.80

6.00

6.00

6.00

6.00

6.00

6.00

6.00

11

More than 2 Years to less than 3 Years

6.80

6.00

6.00

6.00

6.00

6.00

6.00

6.00

12

3 years to 5 Years

6.80

6.00

6.00

6.00

6.00

6.00

6.00

6.00

13

Above 5 Years

6.80

6.00

6.00

6.00

6.00

6.00

6.00

6.00

1) The additional interest rate for Senior Citizens is 0.50% p.a. and shall be applicable only for the deposits below Rs. 1 crore from the period of 181 days to 5 years. This is applicable to all categories of Sr. Citizen Customers including ex- Sr. Citizen Staff (excluding NRI/NRE/NRO Senior Citizen Accounts). However, the additional interest rate for Senior Citizens would not be applicable for special schemes like V-Samvriddhi Term Deposit scheme for 455 days.

2) The above rates are not applicable to NRE Term Deposits.

3) For interest rate on NRE Term Deposits, please refer the table given below.

NRE Accounts

Repatriable Savings Bank and Term Deposit Rupee accounts carrying interest rates.

NRE Savings Bank Interest Rate - (Effective from 07-October 2017)

Balance below Rs.50 Lakhs - 3.50%

Balance of Rs.50 Lakhs and above - 4.00%

Revised rates on NRE Term Deposit with effect from 10th August 2018

SL No

Period

Deposits Interest rates % (p.a)

Below

`1 Cr

` 1 Crore & Above

`1 Cr

to

Less than

`5 Cr

`5 Cr

to

Less than

`25 Cr

`25 Cr

to

Less than

`50 Cr

`50 Cr

to

Less than

`75 Cr

`75 Cr

to

Less than

`100 Cr

`100 Cr

to

Less than

`200 Cr

`200 Cr

& above

1

1Year

6.80

6.00

6.00

6.00

6.00

6.00

6.00

6.00

2

More than 1Year to less than 2 Years

6.80

6.00

6.00

6.00

6.00

6.00

6.00

6.00

3

2 Years

6.80

6.00

6.00

6.00

6.00

6.00

6.00

6.00

4

More than 2 Years to less than 3 Years

6.80

6.00

6.00

6.00

6.00

6.00

6.00

6.00

5

3 years to 5 Years

6.80

6.00

6.00

6.00

6.00

6.00

6.00

6.00

6

Above 5 Years

6.80

6.00

6.00

6.00

6.00

6.00

6.00

6.00

 Notes: