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Rate of Interest on Deposits wef 08/06/15

Rate of Interest on Deposits



Interest rate structure on our deposit schemes is as follows with effect from 21/07/2016.

Fixed Deposit Scheme/Cumulative Deposit Scheme 

Period of deposits in months

Deposits upto Rs.1 cr

Bulk deposits :   >Rs.1 cr

General Public

Senior Citizen

12-36

7.60%

8.10%

7.60%

37–60

7.50%

8.00%

7.50%

  1. Bulk deposits are those deposits with amount from Rs.1,00,00,001/-.
  2. The above interest rates are applicable on all deposit products (as indicated above), accepted / renewed on or after 21/07/16.
  3. The above indicated additional interest of 0.50% for senior citizens will be available only for all deposits upto Rs.1 crore. Interalia, the said additional interest is not available for bulk deposits.
  4. For Fixed deposits, minimum amount eligible for acceptance/renewal shall be  Rs.20,00,000/- (all modes of interest payments (monthly/quarterly/half yearly/annually) are permissible.
  5. For Cumulative deposits, minimum amount for acceptance/renewal is Rs.20,000/- (interest compounded quarterly and payable on maturity)
  6. Minimum Period of deposits is 12 months.


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