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
- Bulk deposits are those deposits with amount from Rs.1,00,00,001/-.
- The above interest rates are applicable on all deposit products (as indicated above), accepted / renewed on or after 21/07/16.
- 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.
- 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.
- For Cumulative deposits, minimum amount for acceptance/renewal is Rs.20,000/- (interest compounded quarterly and payable on maturity)
- Minimum Period of deposits is 12 months.