Interest rates on Deposits revised with immediate effect

1.   INTEREST RATES ON DEPOSITS W.E.F. 22.05.2024

Period

Existing Rates(%)

Revised Rates(%)

Revised Bulk Deposit 15 Lacs or above (%)

Revised Senior Citizen Bulk Deposit(%)

15 days to 30 days

5.50

5.75

6.10

6.10

31 days to 45 days

5.50

5.75

6.10

6.10

46 days to 90 days

6.00

6.25

6.60

6.60

91 days to 180 days

6.25

6.50

6.85

7.35

181 days to 1 year

6.75

7.00

7.35

7.85

Above I year to 3 years

7.25

7.50

7.85

8.35

Above 3  years

7.00

7.25

7.60

8.10

2.

Saving Bank Accounts

W.E.F. 01.04.2021 

3.00 Payable Half Yearly

No Change

3.

Compulsory Deposit

2.50 Payable Annually       

No Change

4.

Compulsory Deposit converted into Fixed Deposit

3.5% Payable Quarterly    

No Change

5.

0.50% extra interest will be admissible for Senior citizens, above the age of 60 years on deposits having maturity of 91 days & above. Increased from 0.35% to 0.50%.

6.

Staff Members will be eligible for 1% extra interest on deposits of all maturities including Saving Bank accounts.

7.

Charitable institutions will be eligible for 0.35% extra interest on deposits of all maturities

8.

Bulk Deposits i.e. single FDR of Rs.15.00 lac or above will be admissible for 0.35% extra rate of interest.