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Interest Rates

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DOMESTIC DEPOSITS (Also applicable for NRO Accounts)
Interest rate on Domestic Deposits with effect from 1st, October 2008
Period
Rate
Rate

Single Deposit of
less than Rs.15.00
lacs
per annum
Single Deposit of
Rs.15.00 lacs to
less than Rs.50
lacs
per annum
Single Deposit of
Rs.50 lacs & above

15 days to 45 days

5.00%

5.00%

Rates to be
46 days to 90 days

5.50%

5.75%

Obtained from
91 days to 179 days

7.50%

7.50%

Head Office - (Treasury
180 days to 299 days

8.50%

8.50%

Dept.) on a daily basis.
300 days

10.60%

10.60%

Premature withdrawal
301 days to less than 1 year

8.50%

8.50%

penalty also will be decided
1 Year         10.60%        10.60%  by Treasury Dept.
Above 1 year to less than 2 years

10.10%

10.10%

 
2 years to less than 5  years

9.75%

9.75%

 
5 years

9.50%

9.50%

 
Above 5  years

9.25%

9.25%

 


Special rates for resident senior citizens, individually or jointly with another resident citizen : 0.50%
       
Premature closure penalty of 0.50% for all fresh deposits and deposits renewed afresh upto Rs.15.00 lacs. 1% premature closure penalty for deposits above Rs.15.00 lacs.


DOMESTIC SAVINGS ACCOUNT(Also Applicable for NRO Accounts)

 

Period Rate
Savings Bank A/c

3.50% per annum

 

 

NRE DEPOSITS
Interest rate on NRE Deposits
Period Rate
1 Year to less than 2 years

4.46% per annum

2 years to less than 3 years

3.76% per annum

3 years upto and inclusive of 10 years

4.06% per annum

 

 

NRE SAVINGS ACCOUNT
Period Rate
Savings Bank A/c

3.50% per annum

 

 

FCNR(B) DEPOSITS

Interest rate per annum on FCNR(B) Deposits
Period USD GBP EURO
1 year to less than 2 yrs

3.71%

6.27%

5.24%

2 years to less than 3 yrs

3.02%

5.07% 

4.37%

3 years to less than 4 yrs

3.31%

5.00% 

4.34%

4 years to less than 5 yrs

3.45%

4.96%

4.37%

5 years

3.64%

4.93%

4.37%

RFC ACCOUNT
Interest rate per annum on RFC Deposits
Period USD GBP EURO
1 year to less than 2 yrs

3.71%

6.27%

5.24%

2 years to less than 3 yrs

3.02%

5.07%

4.37%

3 years only

3.31%

5.00%

4.34%

Savings Bank A/c

 0.50%

2.00%

 1.00%

 
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