Innovative Banking
Insurance
Current Account
Terms depositsRecurring Deposits
RATE OF INTEREST ON TERM DEPOSITS
(INCLUDING RECURRING DEPOSIT)
|
S.No. |
Period |
Rate of Interest w.e.f. |
|
1. |
46 days to 90 days |
6.00
|
|
2. |
91 days to 180 days |
7.50
|
|
3. |
181 days to less than 1 year |
7.75
|
|
4. |
1 year to less than 2 years |
8.50
|
|
5. |
2 years to less than 3 years |
8.50
|
|
6. |
3 years to less than 5 years |
8.50
|
|
7. |
5 years and above |
8.50
|
For RD-Upto 1 year to less than 2 years-8.50%
2 years to less than 3 years- 8.50%
3 years to less than 5 years- 8.50%
5 years and above - 8.50%
Other Conditions :
- Senior citizens will be paid additional interest @ 0.50% over and above the prevailing rates.
- No penal interest to be charged in case of premature withdrawal of the deposit if the same remained with the bank for a period of three years or more.
- Additional interest @ 1% is payable to members of staff on the deposits of all maturities.
- Additional rate of interest @ 1% over and above the stipulated rate of interest payable to General Public is also payable to only those Ex-members of staff of the Bank who have put in a minimum continuous service of three years in the bank.
- In addition to above, Members and Ex-members of staff, who have attained the age of Senior Citizen, shall also be eligible for ½ % of the additional rate of interest as payable to Senior Citizens of General Public. [ e.g. rate of interest payable to Staff Members (Senior Citizen) for one year would be @8.75%+1%+0.25%=10.00%).
- Option for payment of Quarterly and Monthly interest shall be available, subject to the condition that in case of payment of monthly interest , payout will be discounted based on prevailing rates.
Note: Senior Citizen benefit will be given for FDR of 1 Year or Above.