Rate of Interest on Savings Bank Deposit with effect from 1st October 2018
| Balance |
Rate of interest (p.a.) |
| Upto Rs.1.00 crore |
3.55% |
| Over Rs.1.00 crore |
4.00% |
Rate of interest on Domestic Term Deposit with effect from 12th December 2016.
| Period |
Existing |
Revised |
| 15 days to 45 days |
5.50% |
5.25% |
| 46 days to 90 days |
6.00% |
5.75% |
| 91 days to 180 days |
6.50% |
6.25% |
| 181 days to 270 days |
7.00% |
6.75% |
| 271 days to 364 days |
7.25% |
6.75% |
| 1 year to less than 2 years |
7.25% |
7.00% |
| 2 years to less than 3 years |
7.25% |
7.00% |
| 3 years and above |
7.25% |
7.00% |
| Tax Savings Scheme – 5 years |
7.25% |
7.00% |
| Reserve Fund (Society), Risk fund (Society) , Special BDR (Society) ,ACSF(Society), Staff , Mini Deposit Agent and Jewel Appraiser Security deposit etc., Thrift Deposit Societies |
7.25% |
7.00% |
The revised interest rates will be applicable only for new/fresh deposits accepted on or after 12.12.2016 and on Term Deposits, maturing on or after the said date. Other terms and conditions regarding interest on pre-mature withdrawals, interest on loan against deposit, The Special Rate of Interest at 0.5% will be applicable to the Senior Citizens those who deposit for a period of one year and above.
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