Interest rate on Deposits effective from January 03, 2017

Product Name Period of Deposit Interest Rate (p.a)
Existing(%) Revised(%)
Savings Bank 4.00 4.00
Premium Savings Bank Account 6.00 5.00
Samruddhi Weekly Deposit (SWD) 4.00 4.00
Freedom Recurring Deposit (FRD) 5.00 5.00
Samruddhi Daily Deposit (SDD) 400 days 5.50 5.50
700 days 6.50 6.50
900 days 7.00 7.00
Fixed Deposits & Recurring Deposits 16-30 days 5.50 5.50
31-90 days 7.00 6.50
91-180 days 7.00 6.75
181- 365 days 7.50 7.00
Above 1 Year and up to 2 Years 8.00 7.50
Above 2 Year and up to 3 Years 8.15 7.50
Above 3 Year and up to 7 Years 8.15 8.00

Minimum period for Recurring deposits is 6 months.

Fresh deposits opened on or after January 03, 2017 shall carry revised rates.

0.5% extra for Senior Citizens and 1% extra for staff.

Single Deposits of Rs.1 Crore and above shall be accepted at differential rates with the prior approval of MD/CFO.

Pre-mature penalty on term deposit will be charged at 1% on the interest rate applicable on actual period of savings.