FIXED DEPOSITS
INTEREST RATES
It has been decided in the meeting of Managing Committee of the Board held on 23rd JULY 2025.
INTEREST RATES ON DEPOSITS:
| Nature of Deposit | Existing interest rates | Revised interest rates |
|---|---|---|
| Current Account | NIL | NIL |
| Savings Bank Account – balance less than Rs. 1 lac | 3.00% p.a | 2.50% p.a |
| Savings Bank Account- Balance of Rs. 1 lac and above | 3.50% p.a | 3.00% p.a |
| Term Deposits – Individuals | Interest Rates (other than senior citizens) | Interest rates for Senior Citizens |
| 30 days and above and upto 89 days | 4.00% p.a | 4.00% p.a |
| 90 days and above and upto 179 days | 4.50% p.a | 5.00% p.a |
| 180 days and above and less than 12 months | 6.50% p.a | 7.00% p.a |
| 12 months and above and up to 24 months | 7.25% p.a | 7.75% p.a |
| 24 months and above and up to 36 months | 7.75% p.a | 8.25% p.a |
| Above 36 months | 8.00% p.a | 8.50% p.a |
Note:
- Additional interest of 1% p.a. is applicable for deposits made by staff members either working or retired staff members.
- Additional interest of 1% p.a. is not applicable for deposits of staff members who are resigned from the bank.
- In case of deposits made by working staff members/retired staff members jointly with their family members, the name of the working staff member/retired staff member should appear as first depositor.
In case of deposits made by the working staff member/retired staff member, an undertaking has to be obtained from the working staff member /retired staff member that the amount deposited with the bank are their own funds. - In case of deposits made by the staff members beyond Rs. 5 lakhs, permission from CEO has to be obtained in case of new deposits and at the time of renewal of existing deposits.
- In case of cancellation of term deposit before the date of maturity, penal interest as decided by the bank from time to time is applicable (at present 1% of the applicable rate of interest for the period deposit remain with the bank).
- In case of conversion of deposit (from Recurring Deposit to Term Deposit or Term deposit to Reinvestment plan) or extension of existing deposit before maturity date, penal interest of 1% of the applicable rate of interest for the period the deposit remain with the bank is charged.
- No interest shall be paid, where premature withdrawal of deposits takes place before completion of the minimum period of thirty (30) days.
INTEREST RATES ON INSTITUTIONAL:
| Term Deposits – Instititional | Existing Intrest rates | Revised Intrest rates |
| 30 days and above and upto 59 days | 5.25% p.a | 4.50% p.a |
| 60 days and above and upto 89 days | 5.25% p.a | 4.50% p.a |
| 90 days and above and less than 179 days | 5.75% p.a | 5.25% p.a |
| 180 days and above and up to 12 months | 6.25% p.a | 6.25% p.a |
| 12 months and above and up to 36 months | 6.75 % p.a | 6.75 % p.a |
| Above 36 months | 7.00% p.a | 7.00% p.a |
