Deposit Schemes
Get the most competitive Fixed Deposit interest rates for both long and short term investments.
Revision of Rate of Interest on Term Deposits
w.e.f. 01st February, 2023
| S.No. | Period | ROI (General) | ROI (Senior Citizen) |
|---|---|---|---|
| 1 | 7 days to 29 days | 2.70% | 2.70% |
| 2 | 30 days to 90 days | 3.50% | 3.50% |
| 3 | 91 days to 179 days | 3.75% | 3.75% |
| 4 | 180 days to 364 days | 4.70% | 4.70% |
| 5 | 365 days to 729 days | 5.60% | 6.10% |
| 6 | 730 days to 1094 days | 5.80% | 6.20% |
| 7 | 1095 days to 1824 days | 5.90% | 6.40% |
| 8 | 1825 days to 3650 days | 6.00% | 6.60% |
Special Scheme Rate for Fixed Deposit
| S.No. | Period | ROI (General) | ROI (Senior Citizen) |
|---|---|---|---|
| 1 | For 999 Days | 7.00% | 7.40% |
Other Conditions
(Applicable to Recurring Deposits also)
- Option for quarterly and monthly interest payment is available. Monthly payout will
be discounted based on prevailing rates. - No additional interest rate is applicable on bulk deposits.
- Premature withdrawal will attract a penalty of 1%.
Interest shall be paid at the rate applicable on the date of deposit
for the period the deposit remained with the bank. - Deposit will be automatically renewed on the due date for the same period
or one year (whichever is less) unless instructed otherwise. - If total interest payable exceeds ₹10,000/-, payment will be made via
Bank’s Cash Order, Draft or credit to depositor’s account as per Income Tax Rules. - Submission of Form 15G / 15H along with PAN is mandatory at the start of every
financial year to avoid TDS deduction. - Non-submission of PAN will attract higher rate of TDS as applicable.