The Interest Rates on Domestic Term Deposits have been revised as under with effect from 10th August 2009.
Duration
Existing
Revised
15 days - 30 days
4.00%
4.00%
31 days - 90 days
5.00%
5.00%
91 days - 180 days
6.25%
6.25%
181 days upto 1 year
7.25%
7.00%
Above 1 year upto
2 years
8.00%
7.50%
Above 2 years upto
3 years
8.25%
8.00%
Above 3 years upto
5 years
8.25%
8.25%
Above 5 years upto
8 years
9.00%
8.50%
Above 8 years upto
10 years
-
8.75%
The above rates are applicable to fresh deposits and renewals of maturing deposits. There will be additional rate of 1% for Senior Citizens of 60 years and above on all the above maturity period subject to production of proof of age.
Additional 1% of interest rate is paid to the staff on the above rates. Interest to be charged on premature withdrawal of Term Deposits at 1% below the rate applicable for the period deposit has remained with the Bank.
