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REVISION OF INTEREST RATES ON DEPOSITS
REVISION OF INTEREST RATES ON DEPOSITS
Revised ROI On Deposits-DOMESTIC/NRO/NRE-REVISION
(w.e.f. 04-03-2020)
|
Period of Deposit |
Interest payable on deposits below Rs.50 lakhs (effective from 14/02/2020) |
Interest payable on deposits of Rs.50 lakhs and above (effective from 04/03/2020) |
|
7 to 14 days |
4.00%p.a |
4.00%p.a |
|
15 to 30 days |
6.15%p.a |
4.00%p.a |
|
31 to 60 days |
6.15%p.a |
5.15%p.a |
|
61 to 179 days |
6.15%p.a |
5.15%p.a |
|
180 days to 364 days |
6.40%p.a |
5.85%p.a |
|
1 year to less than 2 years |
6.60%p.a |
6.20%p.a |
|
2 year to less than 3 years |
6.60%p.a |
6.20%p.a |
|
3 year to less than 5 years |
6.60%p.a |
6.20%p.a |
|
5 years to 10 years |
6.60%p.a |
6.20%p.a |
Savings Bank A/c Balance up to 15.00lakhs: 3.5% Per Annum.(w.e.f-19-11-2017)
Savings Bank A/c Balance above 15.00lakhs: 4.0% Per Annum (w.e.f-19-11-2017)
Note-For NRE deposits minimum tenor would be 12 months.
Senior Citizens: · Senior citizens will get 0.50% additional interest on all deposits.
|
S.No |
Special Deposit Product |
Scheme Duration |
Principal amount/Unit Amount (Rs) |
Revised Rate from 14.02.2020 |
|
|
General Public |
Senior Citizen |
||||
|
1 |
Vikas 18 |
18 Months |
Rs.18000/- (In multiples) |
6.20 |
6.70 |
|
2 |
Vikas 51 |
60 months |
Rs.51000/- |
6.20 |
6.70 |
|
3 |
VikasPatra |
36 months |
Rs.800/- (Multiples) |
6.20 |
6.70 |
Pre-closure penalty of term deposits:
a)The interest shall be 1% below the rate applicable at the time of Deposits for the period Deposit remained with the Bank or 1% below the contracted rate, whichever is lower, i.e. in case the rate, to be made applicable on premature withdrawal/ payment is going to be higher than the contractual rate, the rate which is lower should be made applicable. However, no interest will be paid on Deposits which remain for a period of less than 7 days
b) These instructions are also applicable for premature withdrawal of existing term deposits.
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