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RATE OF INTEREST ON TERM DEPOSITS
(INCLUDING RECURRING DEPOSIT)
S.No. |
Period |
Rate of Interest w.e.f.
20.08.2011 |
1. |
30 days to 45 days |
4.25 |
2. |
46 days to 90 days |
6.00 |
3. |
91 days to 180 days |
7.50 |
4. |
181 days to less than 1 year |
8.75 |
5. |
1 year to less than 2 years |
10.00 |
6. |
2 years to less than 3 years |
9.50 |
7. |
3 years to less than 5 years |
9.25 |
8. |
5 years and above |
9.00 |
Other Conditions :
- Senior citizens will be paid additional interest @ 0.25% 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.
- Members and Ex-members of staff shall also be eligible for additional rate of interest payable to Senior Citizens @ one half (rounded off upto two decimal places) of the additional interest payable to this category of Depositors from General Public. [For e.g. rate of interest for one year would be @10.00%+1%+0.13%=11.13%).
- 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.
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