Bank has revised rate of Interest on Domestic / NRO Term Deposits as follows:-

Maturity (For NRE Rupee Term Deposits,
min. tenor is 1 Year and Max. 10 Years)		 For deposits of less than Rs.2 Cr
Revised w.e.f 01.04.2024		 For deposits of Rs.2 Cr & above but less than Rs.10 Crs
Revised w.e.f 01.04.2024
7 days to 14 days 3.00 4.50
15 days to 30 days 3.00 4.50
31 days to 45 days 3.00 4.50
46 days to 90 days 4.50 5.25
91 days to 179 days 4.50 6.00
180 days to 210 days 5.50 6.25
211 days to 269 days 5.50 6.50
270 days to less than 1 year 5.75 6.50
1 Year 6.80 7.25
Above 1 Year to less than 2 Years 6.80 6.75
2 Years 7.25 6.50
Above 2 Years to less than 3 Years 6.75 6.50
3 Years to less than 5 Years 6.50 6.00
5 Years to less than 8 Years 6.00 6.00
8 years & above to 10 Years 6.00 6.00

Note: The deposit under the specific maturity bucket of 175 days for amount bucket of “Rs.2 Cr & above but less than Rs.50 Cr” stands discontinued and the same will not be available from 01.04.2024.

  • Minimum Deposit Amount for above maturities and bucket is Rs.10,000/- except court orders/special deposit categories

Branches/ Customers should note the eligibility of additional rate of interest on TDR as per the following guidelines currently in force:

  • Senior Citizen with age of 60 years (completed) & above but less than 80 years will be eligible for additional rate of interest of 0.50% on their Retail Term Deposits (Less than Rs. 2 Cr) for the tenors of minimum 6 months & above (but less than 3 years).
  • Super Senior Citizen with age of 80 years (completed) & above will be eligible for additional rate of interest of 0.65% on their Retail Term Deposits (Less than Rs. 2 Cr) for the tenors of minimum 6 months & above (but less than 3 years) .
  • Senior Citizen are eligible for an additional 0.25% ROI, over & above the regular (as per para 6) 0.50% ROI on their Retail Term Deposits (Less than Rs. 2 Cr) for the tenors of 3 years & above and up to 10 years. In such cases effective eligibility of additional ROI will be 0.75% p.a.
  • Super Senior Citizen are eligible for an additional 0.25% ROI, over & above the regular (as per para 6) 0.65% ROI on their Retail Term Deposits (Less than Rs. 2 Cr) for the tenors of 3 years & above and up to 10 years. In such cases effective eligibility of additional ROI will be 0.90% p.a.

Rs.10 Cr & above

  • For confirmation of Rate of interest for BULK deposit of Rs.10crs and above, Kindly contact your nearest branch.

The rate will be effective from 23-04-2024
Revised Revised
MATURITY BUCKETS 10 Crore and above but less than 50 crore 50 Crore and above
7 days to 14 days 6.25 6.25
15 days to 30 days 6.25 6.25
31 days to 45 days 6.35 6.35
46 days to 90 days 6.50 6.50
91 days to 120 days 7.00 7.00
121 days to 174 days 7.00 7.00
175 days 7.10 7.10
176 days to 179 days 7.10 7.10
180 days to 269 days 7.25 7.25
270 days to less than 1 Year 7.25 7.25
1 Year 7.61 7.61
Above 1 Year but less than 2 Years 7.15 7.15
2 Years and above but less than 3 Years 4.50 4.50
3 Years and above to less than 5 Years 4.50 4.50
5 Years and above to less than 8 Years 4.50 4.50
8 Years and above to 10 Years 4.50 4.50

Annualized rates

In keeping with Reserve Bank of India guidelines to provide information on effective annualized rate of return on deposits of various maturities, we give below the effective annualized rates of return on Bank’s cumulative deposit schemes, under the Re-investment Plan, on quarterly compounding basis: (% p.a.)

  • For deposits less than Rs.2 Cr
  • For deposits of Rs.2 Cr & above but less than Rs.10 Cr
Maturity Rate of Interest % (p.a.)
For deposits less than Rs.2 Cr		 Annualized Rate of Return at minimum of the maturity bucket %
For deposits less than Rs.2 Cr		 Rate of Interest % (p.a.)
For deposits of Rs.2 Cr & above but less than Rs.10 Cr		 Annualized Rate of Return at minimum of the maturity bucket %
For deposits of Rs.2 Cr & above but less than Rs.10 Cr
180 days to 210 days 5.50 5.54 6.25 6.30
211 days to 269 days 5.50 5.54 6.50 6.61
270 days to less than 1 Year 5.75 5.83 6.50 6.61
1 Year 6.80 6.98 7.25 7.45
Above 1 Year to less than 2 Years 6.80 6.98 6.75 6.92
2 Years 7.25 7.73 6.50 6.88
Above 2 Years to less than 3 Years 6.75 7.16 6.50 6.88
3 Years to less than 5 Years 6.50 7.11 6.00 6.52
5 Years to less than 8 Years 6.00 6.94 6.00 6.94
8 years & above to 10 Years 6.00 7.63 6.00 7.63

  • * All annualized rate of return are rounded off to nearest two decimal places.

Rate for Senior Citizen Deposits

  • The period of deposit should be for 6 months & above , for availing benefit of additional rate applicable to Senior Citizens / Staff/Ex-Staff Senior Citizen.
  • The Senior Citizen / Senior Citizen Staff/Ex-staff should be the first account holder and his/her age should be more than 60 Years at the time of placing the deposit.
  • 0.50% p.a. additional rate of interest over and above card rates for General Public for minimum deposits of Rs.5000/-(in case of Term Deposits) & Rs.100/- (in case of Normal RD account & Rs.1000/- for Flexi RD Accounts) up to Rs.2 Crore for term deposits of 6 Months & Above to 10 years. However for deposits of 3 yrs & above, the additional ROI should be given at 0.75% over & above normal ROI.
  • Similarly, 1.50% p.a. additional rate of interest over and above card rates (for Staff/Ex-Staff Senior Citizens, Spouse in case of deceased Staff/Ex-Staff) on their deposits below Rs.2 Crore (i.e.1% Staff Rate + 0.50% Senior Citizen Rate of Interest) for term deposits of 6 Months & Above to 10 years.

Bank has revised rate of Interest on Domestic Term Deposits as follows:-

Maturity For Deposits of Less than Rs. 2 Cr
#Revised Rates For Senior Citizens w.e.f 01.04.2024		 For Deposits of Less than Rs. 2 Cr
##Revised Rates For Super Senior Citizens w.e.f 01.04.2024
07 days to 14 days 3.00 3.00
15 days to 30 days 3.00 3.00
31 days to 45 days 3.00 3.00
46 days to 90 days 4.50 4.50
91 days to 179 days 4.50 4.50
180 days to 210 days 6.00 6.15
211 days to 269 days 6.00 6.15
270 days to less than 1 Year 6.25 6.40
1 Year 7.30 7.45
Above 1 Year to less than 2 Years 7.30 7.45
2 Years 7.75 7.90
Above 2 Years to less than 3 Years 7.25 7.40
3 Years to less than 5 Years 7.25 7.40
5 Years to less than 8 Years 6.75 6.90
8 years & above to 10 Years 6.75 6.90

Minimum Deposit Amount for above maturities and bucket is Rs.10,000/- except court orders/special deposit categories
Special deposit bucket 400 days (Monsoon Deposit) days stand discontinued
# Senior Citizen- Age 60 years or above but less than 80 years,
## Super Senior Citizen- Age 80 Year & above.

Rs.10 Cr & above

  • Please contact nearest Branch for rate of interest on deposits for Rs.10 cr & above.

Terms & Conditions

In keeping with Reserve Bank of India guidelines to provide information on effective annualized rate of return on deposits of various maturities, we give below the effective annualized rate of return on Bank’s cumulative deposit schemes, under the Re-investment Plan, on quarterly compounding basis: (% p.a.)

For deposits less than Rs.2 Cr

Maturity Rate of Interest % (p.a.) For Senior Citizens Annualized Rate of Return at minimum of the maturity bucket % * For Senior Citizens Rate of Interest % (p.a.) For Super Senior Citizens Annualized Rate of Return at minimum of the maturity bucket % * For Super Senior Citizens
180 days to 210 days 6.00 6.04 6.15 6.20
211 days to 269 days 6.00 6.04 6.15 6.20
270 days to less than 1 Year 6.25 6.35 6.40 6.50
1 Year 7.30 7.43 7.45 7.59
Above 1 Year to less than 2 Years 7.30 7.50 7.45 7.66
2 Years 7.75 8.30 7.90 8.47
Above 2 Years to less than 3 Years 7.25 7.73 7.40 7.90
3 Years to less than 5 Years 7.25 8.02 7.40 8.20
5 Years to less than 8 Years 6.75 7.95 6.90 8.16
8 years & above to 10 Years 6.75 8.85 6.90 9.11

* All annualized rate of return are rounded off to nearest two decimal places

Additional Rate of Interest applicability on various Rupee Term Deposits

Type of Accounts Additional Staff Rate applicable to Staff/Ex-Staff Additional Senior Citizen Rate applicable to Senior Citizen/Ex-Staff Senior Citizen
HUF Not Applicable Not Applicable
Capital Gain Scheme Not Applicable Not Applicable
NRE/NRO Deposits Not Applicable Not Applicable

  • In case of premature withdrawal, “the applicable rate of interest on the date of acceptance of deposit for the actual period which the deposit has remained with the bank or contracted rate of interest whichever is LOWER shall be applicable.”*(Please refer Penalty Details under Retail -> deposits -> Term -> Penalty Details).
  • No interest will be paid for premature withdrawal below 7 days in case of Term Deposits,below 3 months in case of Recurring Deposits and below 12 months in case of NRE Deposits.

Deposits Accepted/ Renewed On or After 01.04.2016

Please Note Penalty on Premature Withdrawals shall be Applicable for Fresh / Renewed Deposits w.e.f. 01-04-2016

Category of the deposits Penalty on premature withdrawal of the deposit
Deposits less than Rs. 5 Lacs withdrawn on or after completion of 12 months NIL
Deposits less than Rs. 5 Lacs withdrawn prematurely before completion of 12 months 0.50%
Deposits of Rs. 5 Lacs & above withdrawn prematurely 1.00%

  • In case of the deposits which have been prematurely closed for renewing for a longer period than the remaining period of the original contract tenure, there shall be “No penalty” for the premature withdrawal irrespective of the amount of the deposit.
  • No Penalty for the premature withdrawal of Term deposits due to death of depositor/s
  • No penalty on premature withdrawals of Term Deposits by Staff, Ex- Staff, Staff/Ex-Staff Senior Citizens and spouse of deceased staff as a first account holder

Please Note the penalty applicable in the Capital Gain Account Scheme shall remain unchanged.

  • TDS applicable on Term deposits( as per amendments in Finance Act 2015)
  • TDS will be deducted on the interest earned on the total amount of deposits held by a customer in the Bank as a whole, and not on individual deposits held by him branch-wise including Recurring Deposits.