Revision of Rate of Interest on Term Deposits w.e.f. 26th September 2024
(i) The revised rate of interest on various term deposits (including Recurring Deposit) will be as under:-
S.No. | Period | Rate of Interest w.e.f. 26.09.2024 |
1. | 30 days to 45 days | 3.50 |
2. | 46 days to 90 days | 4.00 |
3. | 91 days to 180 days | 4.50 |
4. | 181 days to less than 1 year | 5.75 |
5. | 1 year to less than 2 years | 6.70 |
6. | 2 year to less than 3 years | 6.75 |
7. | 3 years to less than 5 years | 6.50 |
8. | 5 Years and above | 6.50 |
Other conditions are as under:-(Applicable to Recurring Deposits also)
- Senior citizens will be paid the additional interest @ 0.50% over and above the prevailing rates.
- Option for payment of Quarterly and Monthly interest (in Term Deposits) shall be available, subject to the condition that in case of payment of monthly interest, payout will be discounted based on prevailing rates.
- On premature withdrawal of the Term Deposit, interest shall be paid at the rate that was applicable on the date the deposit was placed & for the period for which the deposit is maintained with the bank, subject to a penalty of 1% on such rate.
New Deposit Scheme [for a limited period from 17.09.2024 to 30.11.2024]
1 | Period of Deposit | : | 401 Days |
2 | Rate of Interest | : | 7.30% p.a. (General Public) 7.80 % p.a. (Senior Citizens) |
- The Bank can extend or withdraw the above deposit scheme at any time.
- The above rate shall also be applicable on bulk deposits of `15.00 lac and above
- Option for payment of Quarterly and Monthly interest (in Term Deposits) shall be available, subject to the condition that in case of payment of monthly interest, payout will be discounted based on prevailing rates.
- On premature withdrawal of the Term Deposit, interest shall be paid at the rate that was applicable on the date the deposit was placed & for the period for which the deposit is maintained with the bank, subject to a penalty of 1% on such rate.