The Interest Rates on Domestic Term Deposits have been revised as under with effect from 25th April 2011.
Duration
Existing
Revised
15 days - 45 days
4.00%
4.00%
46 days - 90 days
4.25%
4.25%
91 days - 180 days
5.75%
6.00%
181 days upto 1 year
6.25%
6.25%
Above 1 year upto
2 years
7.00%
7.50%
Above 2 years upto
3 years
7.50%
8.00%
Above 3 years upto
5 years
7.50%
7.50%
Above 5 years upto
8 years
7.75%
7.75%
Above 8 years upto
10 years
8.00%
8.00%
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.
