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Deposits

Loans  

Interest Rate - Deposits    Domestic deposits        Non Resident deposits       RFC Accounts     

Domestic Deposits

A. Savings Bank Deposits   (Domestic/NRO)- 4.00% per annum  ( w.e.f  03.05.2011)  B. Term Deposits  (Domestic/NRO)   (w. e. f.  01.04.2013)                1)      Rupee Deposits under Domestic, NRO segments – Deposit Amount Below Rs.1.00 crore w.e.f 01/04/2013     Period (percentage per annum) 7 days to 14 days NIL 15 days to 45 days 7.00 46 days to 90 days 7.00 91 days to 180 days 7.00 181 days to 364 days 7.50 1 year and above but below  2 years 8.75 2 years and above but below  3 years 8.75 1000 days 8.75 3 years and above  but below 5 years 8.50 5 years and above upto 10 years 8.50   The following terms and conditions will be applicable:   1)      The above interest rates shall be applicable to all domestic term deposits under all segments as well as to NRO Term deposits..   2)      Senior Citizens (Residents of age 60 years and above) will be paid an additional interest of 0.50% over the above rates for  deposits of one year and above. In such case, the minimum Deposit amount will be Rs.5,000/-   3)      The above rates shall be  applicable to Deposits under Capital Gains Scheme, 1988  (irrespective of the amount of deposit), Unit Deposit, Tax Saver Term Deposit scheme (2006).  No differential rate / No additional interest is payable for senior citizens / staff members.   4)      Term Deposits, in respect of which no instructions are received from the depositors, either at the time of placing the deposit or at the time of maturity of deposit, shall be renewed automatically on the date of maturity.  Such automatic renewal shall be done for a period similar to the period of original deposit.  However, the rate of interest shall be the card rate prevailing on the date of maturity / renewal.   5)      Premature payment will be allowed on such term deposits.   However, no interest will be paid if the premature withdrawal takes place within and inclusive of 15 days.  If the premature withdrawal of domestic deposits is made after 15 days, interest will be paid at 1% below the rate of interest applicable for the period the deposit remained with the Bank. (Applicable rate is the rate of interest for the period prevailing on the date of deposit). There shall be  no discretion for reduction / waiver of penalty for premature withdrawal of term deposits.  However, penalty shall not be applicable for premature closure of deposits belonging to staff and retired staff members.   There shall be no penalty for premature closure of Term deposits, if the amount is reinvested and the reinvested term deposit remains with the bank for a period longer than the remaining period of the original term.   2)      Rupee Deposits under Domestic, NRO segments – Deposit amount –Rs.1.00 crore and above with effect from  22/05/2013 (updated at 11.00 am) Period Percentage  per annum 7 days to 14 days 7.00 15 days to 45 days 7.00 46 days to 90 days 7.00 91 days to 180 days 7.25 181 days to 364 days 7.50 1 year and above upto 2 years 8.75 2 years and above but below 3 years 8.75 3 years and above  but below 5 years 8.75 5 years and above upto 10 years 8.50   1)      Prior approval from Head Office is mandatory for accepting deposits for an amount of Rs.1 crore and above. 2)      The above interest rates are applicable to all segments and all term deposit schemes under Domestic, NRO customers. 3)       In respect of deposits of Rs.1.00 crore and above, premature withdrawal is permitted  for deposits upto and inclusive of Rs.10 crores.  However, no interest will be paid if the premature withdrawal takes place within and inclusive of 15 days .  If the premature withdrawal made after 15 days, interest will be paid at 1% below the applicable rate  (i.e. the rates prevailing on the date of deposit)  of interest for the period the deposit remained with the  Bank. 4)       In respect of deposits of above Rs.10.00 crore, Premature withdrawal is  allowed. However, no interest will be paid if the premature withdrawal takes place within and inclusive of 15 days .  If the premature withdrawal made after 15 days, interest will be paid at 2% below the applicable rate (i.e. the rates prevailing on the date of deposit) of interest for the period the deposit remained with the  Bank. 5)      There is no penalty for premature closure of Term deposits, if the amount is reinvested and the reinvested term deposit remains with the bank for a period longer than the remaining period of the original term. However, deposits for an amount of Rs.1 crore and above, will be accepted for reinvestment at the sole discretion of the Bank. 6)       There is no discretion for reduction/waiver of penalty for premature withdrawal of term deposits. 7)      These instructions for premature withdrawals will apply only to fresh deposits and renewed maturing deposits. 8)      The rates prescribed above under this segment is only for the day and time when it is displayed.  Bank reserves right to revise these rates without any notice, during the day also.       RUPEE DEPOSITS UNDER NON-RESIDENT INDIAN (NRE) SEGMENT   1)      Rupee Deposits under NRE segment – Deposit Amount Below Rs.1.00 crore w.e.f 01/04/2013   Period Percentage per annum 1 year and above but below  2 years 8.75 2 years and above but below  3 years 8.75 3 years and above  but below 5 years 8,50 5 years and above upto 10 years 8.50   Conditions for premature withdrawal:   a) Premature payment will be allowed on term deposits below Rs. 1.00 crore.  However, no interest will be paid if the premature withdrawal takes place within one year from the date of deposit. In respect of premature withdrawal after one year, interest will be paid at 1% below the rate of interest applicable for the period the deposit remained with the Bank.( Applicable rate is the rate of interest for the period prevailing on the date of deposit ). There shall be  no discretion for reduction / waiver of penalty for premature withdrawal of term deposits.    b) There shall be no penalty for premature closure of Term deposits, if the amount is reinvested and the reinvested term deposit remains with the bank for a period longer than the remaining period of the original term.  2)      Rupee Deposits under NRE segment – Deposit Amount  Rs.1.00 crore and Above w.e.f  22/05/2013 (updated at 11.00 am)   Period Percentage per annum 1 year and above but below  2 years 8.75 2 years and above but below  3 years 8.75 3 years and above  but below 5 years 8.75 5 years and above upto 10 years 8.25 Conditions for premature withdrawal:   a)Prior approval from Head Office is mandatory for accepting deposits for an amount of Rs.1 crore and above.   b)Premature payment will be allowed on term deposits above Rs. 1.00 crore.  However, no interest will be paid if the premature withdrawal takes place within one year from the date of deposit. In respect of premature withdrawal after one year, interest will be paid at 1% below the rate of interest applicable for the period the deposit remained with the Bank.( Applicable rate is the rate of interest for the period prevailing on the date of deposit ). There shall be  no discretion for reduction / waiver of penalty for premature withdrawal of term deposits.    c) There shall be no penalty for premature closure of Term deposits, if the amount is reinvested and the reinvested term deposit remains with the bank for a period longer than the remaining period of the original term.

Interest Rates For FCNR Deposits
(w.e.f. 03-05-2013)

RFC Accounts (in USD)
With effect from 03-05-2013