Deposit Rate

Term Deposits [% per annum with effect from 13th January 2017]
Term Deposits (Other than NRE)
Maturity BandLess than Rs.1 Crore(applicable for domestic, NRO and Capital Gains deposits)
7 to 14 days
5.00
15 to 45 days
5.00
46 to 60 days
6.00
61 to 90 days
6.00
91 to 120 days
6.50
121 to 180 days
6.50
181 to 270 days                                                             6.65
271 days to less than 1 year
6.65
1 year to less than 3 years
7.00
3 years & Above
6.90

Conditions apply including penalty on premature closure/part withdrawal/ premature renewal as under:

  1. Interest rates as above are subject to change from time to time.
  2. The revised rates are applicable for fresh deposits and renewal of old deposits.
  3. The overdue deposit (i.e. term deposit which has matured) will be paid interest at prevailing       Savings Bank Rate for the overdue period. If such deposit is continued (entire amount or in         part), the same will be treated as a fresh term deposit from the date of presentation, at the         rate prevailing on the date of presentation for the period of fresh term deposit
  4. Premature withdrawal penalty will be charged at the rate of 1% p.a. on all deposits. The revised guideline is applicable to fresh deposits accepted and on renewal of deposits maturing on or after 09/11/2014.
  5. No interest shall be paid on any Term Deposit prematurely closed in less than 7 days.
  6. In case of premature renewal of deposits, including Staff deposits for deposits accepted on or after 25.11.2010, penalty of 1% is applicable. This clause is not applicable to Deposits opened prior to 25.11.2010.

Senior Citizens

Additional Interest benefit for Senior Citizens will continue to be 0.50% for deposits of less than Rs.1 Cr effective from 25.04.2012 for all maturities of 91 days and above. However, deposits of Senior citizens opened under NRO, NRE, HUF, Capital Gains (B) and Special deposit Scheme (open if any) are not eligible for this benefit.

For further details/information, please contact the nearest branch of the Bank.

Acceptance of deposits of Rs. 1 Cr and above is at the discretion of the Bank.

One month prior Notice is required for premature closure of Bulk Deposits of Rs. 50.00 Crore and above.

 

NRE Term Deposits [ % per annum with effect from 27th December 2016]
NRE TERM DEPOSITS


Maturity PeriodLess than Rs.1 crore

Rs.1 Crore to < Rs.10 Crore 

Rs.10 Crore & above 

1 Year to less than 3 years
7.00
5.90
5.00
3 years and above
6.90
5.90
5.00

 

v
The above revised interest rates will apply only to fresh deposits accepted and on renewal of deposits maturing on or after the effective date. However, for the renewal of deposits within 14 days from due date (both days inclusive), the rate of interest payable on the amount of the deposit so renewed shall be the appropriate rate of interest for the period of renewal, as prevailing on the date of maturity or on the date when the depositor seeks renewal, whichever is lower

 

v
A penalty of 0.50% will be imposed for premature withdrawal of NRE Term deposits of above Rs.1 crore, accepted/renewed on or after 03.01.2012. Applicable Rate of Interest for premature closure of deposits will be - applicable rate for the run period less 0.50%. In all other cases penalty for premature withdrawal is not stipulated. However, no interest shalll be paid , if any NRE Term deposit is closed prematurely within a period of 12 months from the date of deposit.

 

vNo NRE Term Deposit will get any interest, if closed prematurely before completion of 12 months from the date of deposit

 

vInterest Rate applicable for NRE Savings Bank Deposits is 4.00% P.A. with effect from 03.05.2011
Interest Rates on FCNR(B) Deposits [with effect from 1st January 2017]
Interest Rates on FCNR(B) Deposits


The interest rates on FCNR (B) deposits stand revised as follows with effect from 1st January 2017.

Period of DepositInterest Rates (per annum)
USDGBPEUR
AUD
CAD
1 year to less than 2 years
2.05
1.27
0.32
2.77
1.95
2 years to less than 3 years
2.48
1.61
0.35
3.08
2.12
3 years to less than 4 years
2.69
1.69
0.40
3.24
2.27
4 years to less than 5 years
2.87
1.78
0.48
3.59
2.39
5 years
2.98
1.88
0.58
3.65
2.49

1.0The above revised interest rates will be applicable only to fresh deposits and on renewal of deposits maturing on or after 01st January 2017. However, for the renewal of deposits within 14 days from due date (both days inclusive), the rate of interest payable on the amount of the deposit so renewed shall be the applicable rate of interest for the period of renewal, as prevailing on the date of maturity or on the date when the depositor seeks renewal, whichever is lower

2.0With regard to interest rates on RFC accounts denominated in USD, GBP and EUR, we advise that:

2.1Interest rate on RFC-SB accounts is 0.50% p.a.

2.2On RFC-Term deposits for the maturities of 1 month, 2 months, 3 months and 6 months, interest rates are based on market rates. Interest rates for periods less than One Year are being communicated to the designated branches daily along with card rates as is being done hitherto.

2.3In case of RFC deposits for periods beyond one year and up to a maximum of 3 years the rates as applicable to FCNR (B) deposits of respective tenures shall apply.


As per the guidelines issued by RBI vide DBOD No.Dir.BC.50/13.03.OO/2004-05 dated 01.11.04, the banks are required to revise the interest rates on FCNR (B) deposits as per the LIBOR/Swap rates prevailing on the last day of the previous month. As such, the division shall be revising the interest rates during the first week of every month. Branches are requested to take note of the frequency of revision of interest rates.

 

Notional Rate with effect from 25th January 2016
REVISION OF NOTIONAL RATES

Currency

Notional Rate (in Rs)

 
Existing
Revised from 25.01.2016
USD
64.00
67.00
GBP
98.00
98.00
EUR
72.00
73.00
JPY (per 100 units)
53.00
56.00
AUD
47.00
48.00
CAD
49.00
48.00
SGD
46.00 
47.00 
HKD
8.00
9.00 
CHF
66.00
67.00 
AED
17.00 
18.00 
SEK
7.00 
8.00