Term Deposit Rates

Domestic / NRO- w.e.f. November 30 2012

Maturity Period Below Rs.15 lacs Rs.15 lacs To Rs. 100 lacs
7 days to 14 days 3.50% 4.00%
15 days to 30 days 4.50% 5.00%
31 days to 45 days 5.00% 5.50%
46 days to 60 days 5.50% 6.00%
61 days to 90 days 6.00% 6.50%
91 days to 180 days 6.50% 7.00%
181 days to 269 days 7.75% 8.00%
270 days or below 1 year 8.50% 8.50%
1 year to below 1 years 2 months 9.25% 9.25%
1 years 2 months to below 2 years 9.00% 9.00%
2 years to below 2 years 6 months 8.75% 8.75%
2 years 6 months to below 2 years 9 months 9.25% 9.25%
2 years 9 months to below 3 years 8.75% 8.75%
3 years to below 61 month 8.75% 8.75%
61 months and above 8.50% 8.50%
Indus Tax Saver Scheme - 5 years (upto Rs 1 lac) 8.75% NA

NRE Deposits- w.e.f. June 01 2013

Maturity Period < Rs. 1 cr
1 year to below 1 years 2 months 9.00%
1 years 2 months to below 2 years 8.75%
2 years to below 2 years 6 months 8.75%
2 years 6 months to below 2 years 9 months 9.00%
2 years 9 months to below 3 years 8.75%
3 years to below 5 years 8.75%
5 years to 10 years 8.50%

FCNR Deposits- w.e.f.01st April,2014

Period USD GBP EUR CAD AUD JPY
1yr < 2 yrs 2.56% 2.91% 2.55% 3.47% 4.71% 2.09%
2 yrs < 3 yrs 2.59% 3.49% 2.49% 3.40% 4.96% 1.95%
3 yrs < 4yrs 4.05% 4.32% 3.64% 3.61% 5.23% 2.22%
4 yrs < 5yrs 4.48% 4.57% 3.82% 3.86% 5.53% 2.27%
5 yrs 4.85% 4.79% 4.01% 4.09% 5.74% 3.34%

NRE Savings Account - w.e.f. May 03 2011

4.00%
All the rates in the above tables are per annum
Senior Citizens - Additional interest rate on Domestic Term Deposits
An additional interest rate of 0.50% over and above the card rates applicable for deposits below Rs.1cr, currently being offered to Term Deposits of Senior citizens (Age 60 years & above) shall remain unchanged.
However, in case the senior citizen opts to place deposits under the interest rates applicable for High Value Deposits, the benefit of additional interest shall not be available.
In case of premature closure of NRE / FCNR/ RFC Term deposit the interest rate payable will as under:
• No interest will be payable if the period the FD remains in force is less than 1 year.
• If the deposit has remained in force for more than 1 year, interest will be calculated at the rate applicable for the period the Deposit has actually remained with the Bank less 1%.
• Additionally, in case of pre-mature withdrawal of FCNR (B) deposits, SWAP (conversion) cost will be recovered, basis the prevailing market rates on the date of pre-mature withdrawal, between the FCNR (B) currency and Indian Rupees
Method of calculation of interest:
a) Savings Bank – Payment of interest will be made on daily product basis, payable half yearly
b) Fixed Deposits –
i) For deposits with tenure of 91 days and above, interest is calculated on a quarterly basis.
ii) In event the depositor chooses to reinvest the interest earned during the pervious quarter then the same is added to the Principal for calculation of interest. Interest on this amount is calculated every quarter.
iii) For deposits with tenure of below 91 days, interest is calculated at Simple interest. Please note that the period of Fixed deposit is considered in number of days.
iv) In event the depositor chooses to receive the periodic interest payments on a quarterly basis, interest is calculated and paid on quarterly rests.
v) Premature withdrawal of deposit will attract 1% penalty (Fixed Deposits opened post August 1, 2008): 1% less than the card rate (applicable for deposits below Rs.15 lacs), as on the date of deposit, for the period for which the deposit has remained with the Bank or 1% less than the contracted rate which ever is lower.
vi) Tax at Source is deducted as per the Income Tax regulations prevalent from time to time.

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