The revised rates are applicable for both fresh deposits and renewal of existing deposits.
The rate of interest on Bank Term Deposit Scheme, 2006 (Tax Saving Scheme for 5 year term deposit) up to investment limit of Rs 1.00 lakh only will be 9.00%.
In case of premature withdrawal of deposit, the applicable rate would be 1% below the interest rate of the period for which deposit actually held with the Bank.
Deposits to be accepted for a maximum period of 10 years.
Senior citizens will be offered an additional rate of 0.50% only for maturity slabs of 91 days to less than One Year and 0.75% for maturity slabs of One Year and above. The additional interest rate for senior citizens will be offered for an amount of less than Rupees One crore only.
The revised rates would be applicable for all NRO term deposits.
All rates are subject to change from time to time.
For interest rate on deposits above Rs.5 cr, please contact our nearest branch.
