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Rate of Interest on Deposits wef 29/06/2017

Rate of Interest on Deposits



Interest rate structure on our deposit schemes is as follows with effect from 29/06/2017.

 

 

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

7.00%

7.50%

7.00%

13-36

7.10%

7.60%

7.10%

37–60

7.25%

7.75%

7.25%

 

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 29/06/17.

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/- for payment of monthly interest.

The minimum amount accepted by us under Fixed Deposit Scheme is Rs.20,00,000/- for payment of monthly interest

The minimum amount accepted by us under Fixed Deposit Scheme is Rs.5,00,000/- for payment of quarterly, half-yearly and yearly interest.

The minimum amount accepted by us under Cumulative Deposit Scheme is Rs.20,000/-.

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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