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 March 01st, 2024 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 6.90 4.25
16-45 days 5.25 4.75
46-90 days 5.50 5.00
91-180 days 6.00 5.50
181-365 days 6.25 5.75
>1 year – 2 years 6.50 6.00
>2 years 6.50 6.00

Interest Rates for Term Deposits for INR 2 Crores & above

Tenor Interest Rate without premature facility Interest Rate with premature facility
7-15 days 6.95 4.50
16-45 days 6.95 5.00
46-90 days 6.00 5.25
91-180 days 6.50 5.75
181-365 days 7.75 6.00
>1year – 2years 7.00 6.25
>2 years 7.00 6.25

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
  • Non pre mature deposits for a minimum of INR 1 Crore

FCNR (B) Deposit Rates (w.e.f 01st March 2024 )
 
Currency Tenor Deposit Rate
USD >=1Y < 2Y 2.00%
  >=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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