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RATES AT A QUICK GLANCE : DEPOSITS & LOANS
DEPOSITS

NATURE

RATE OF INTEREST

Savings Account - Domestic

%

With Cheque book facility

4.0

Without Cheque book facility

4.0

No frills Account

4.0

 

DOMESTIC TERM DEPOSITS

Maturity Period

Rates for Deposits less than Rs.1 Crore

Rates For Deposits  1 Cr  to  Rs.10 Cr (Single Deposit)

Existing rates

Revised rates

Existing rates

Revised rates

02.04.14

17.06.14

03.02.14

17.06.14

7 -14 days

6.50

6.50

6.00

6.25

15 – 30 days

6.50

7.00

7.00

7.00

31 -45 days

6.50

7.00

7.00

7.00

46 – 59 days

7.50

7.50

7.25

7.25

60 – 90 days

7.50

7.50

7.75

7.75

91 – 179 days

8.20

8.20

8.00
8.00

180 – 270 days

8.75

8.75

8.50

8.50

271 – 364 days

8.75

8.75

8.50

8.50

1 yr  to less than 2 yrs

9.00

9.00

9.00

9.00

2 yr to less than 3 years

9.05

9.05

8.75

8.75

3 yr to less than 5 years

9.05

9.05

8.75

8.75

5 years & above

8.75

8.75

8.75

8.75

555 days

9.05

9.05

NA

NA

777 days

9.15

9.15

NA

NA

Cent Double

8.75

8.75

NA

NA

 

 

 

Note

 

 

1

An additional interest rate of 0.50% p.a. over and above the normal rate of interest for any of our Time Deposit Schemes & also for Tax Saver Depositors Scheme will be given as incentive for deposits of Senior Citizens who are above 60 years of age.

 

 

2

In terms of guidelines vide our instruction circular no 1124 issued by Resource Mobilization Deptt. dated 27th April 2013,

 

a)      Penal interest at the rate of 1% will be charged on premature withdrawal of time deposit above Rs 5 lakhs.

b)      No penalty will be levied on premature withdrawal of deposits provided the deposits are renewed for a period longer than remaining period of the original contract.

c)      In case of premature withdrawal of deposits up to Rs 5 lakhs there will be no levy of penal interest

 

 

 

3

For large value deposit of Rupees One Crore and above, upfront non-prepayment clause is to be stipulated

 

4

 

The revised rates shall also be applicable to Capital Gains Accounts Scheme, 1988.

 

 

5

The revised interest rates shall be applicable to fresh deposits as well as on renewal of deposits.

 

 

6

A new Recurring deposit product “Jab Chaho Lakhpati Bano” is also introduced wef 02nd April, 2014. Staff and senior citizens will get additional benefit as per the existing norms.

 

 

 

 

 

Aggregate bulk deposit above Rs.10 crore with effect from 07.07.2014:-

 

 

Period

Existing Rates (%)

Revised Rate (%)

7-14 days

6.00

6.00

15-30 days

7.00

7.00

31-45 days

8.25

8.25

46-59 days

8.50

8.25

60-90 days

8.60

8.25

91-179 days

8.60

8.50

180-270 days

8.85

8.85

271-364 days

8.85

8.85

12 months to 13 months

9.10

9.10

  

However the prior approval of Treasury Central Office must be taken before accepting deposit of Rs.25  crore and above.

 

Please note that these interest rates are not applicable for Inter-Bank Deposits.

  

Loans

 

B.P.L.R ( w.e.f 01.08.2011 )

15.00% p.a

 

 

Base Rate (BR) w.e.f. 19.08.2013

10.25%

 

CLICK HERE FOR Base Rate linked INTEREST RATES - RETAIL LENDING SCHEMES

 

 

 

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