Deposit Rates

Savings Bank Deposits (Including NRE and NRO deposits)

Interest on Saving Bank accounts(Including NRE and NRO deposits) 2.75 %

Interest on Domestic Term Deposits (Including NRE and NRO deposits)

The Domestic Term Deposit rates with effect from October 1st, 2020 are as follows :

Interest Rates for Term Deposits Below INR 2 Crores

Tenor Interest Rate without premature facility Interest Rate with premature facility
7-15 days 2.85 2.75
16-45 days 2.85 2.75
46-90 days 3.15 3.00
91-180 days 3.35 3.10
181-365 days 3.50 3.25
>1 year – 2 years 3.50 3.25
>2 years 3.50 3.25

Interest Rates for Term Deposits for INR 2 Crores & above

Tenor Interest Rate without premature facility Interest Rate with premature facility
7-15 days 3.00 2.90
16-45 days 3.25 3.00
46-90 days 3.50 3.15
91-180 days 3.75 3.35
181-365 days 4.00 3.50
>1year – 2years 4.00 3.50
>2 years 3.75 3.50

Note : Rates are subject to change without prior notice

Pre-mature withdrawal

On pre-mature withdrawal of the deposit :

  • Interest will be calculated at the rate applicable for the period the deposit has actually remained with the Bank
  • No interest will be paid for deposits that are liquidated in less than 7 days from the date of opening of the TD a/c
  • Penal Interest of 1% will be levied on pre-mature withdrawals of term deposits

FCNR (B) Deposit Rates (w.e.f 01st October 2020 )
 
Currency Tenor Deposit Rate
USD >=1Y < 2Y 0.75%
  >=2Y < 3Y NA
  >=3Y < 4Y NA
  >=4Y < 5Y NA
  5Y NA

Note: Bank does not accept FCNR deposits above 2 years.

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