Interest Rates

 

DEPOSITS LOANS
 

DEPOSITS

 

Domestic Deposits

 

NATURE OF ACCOUNT RATE OF INTEREST %
Normal Senior Citizen
Savings Bank A/c  
A. Domestic / NRO  
    a.With Cheque book facility 4.00 4.00
    b.Without Cheque book facility 4.00 4.00
B. NRE  
    a.With Cheque book facility 4.00 4.00
    b.Without Cheque book facility 4.00 4.00
 
A. Savings Bank Deposits(Domestic/NRO) - 4.00% per annum  ( w.e.f  03-05-2011)
 
The next interest application date in SB accounts is 25.12.2016 and thereafter on quarterly rests.
 
B. Term Deposits  (Domestic/NRO)   

 

1)      Rupee Deposits under Domestic, NRO   Deposit of below Rs 1 crore  w.e.f 01-12-2016

 

Period

Ordinary
(percentage per annum)

Senior Citizen *
(percentage per annum)
7 days to 45 days
5.50
6.00
46 days to 179 days
6.50
7.00
180 days to 210 days
6.75
7.25
211 Days to less than 1 Year
7.00
7.50
1 Year to 455 Days
6.90
7.40
456 Days to less than 2 Year
6.95
7.45
2 years to less than 3 years
6.85
7.35
3 years to less than 5 years 6.50 7.00
5 years and up to 10 years 6.50 7.00

                                       * Not applicable to NRO Deposits

Annualised Rate Rupee Deposits under Domestic, NRO

  Ordinary Senior Citizen
Period Percentage per annum Annualised rate Percentage per annum Annualised rate
1 year 6.90 7.08 7.40 7.60
2 years 6.85 7.27 7.35 7
3 years 6.50 7.11 7.00 7.71
4 years 6.50 7.35 7.00 7.99
5 years 6.50 7.60 7.00 8.30
6 years

6.50

7.87 7.00 8.60
7 years

6.50

8.14 7.00 8.93
8 years

6.50

8.43 7.00 9.27
9 years

6.50

8.73 7.00 9.63
10 years

6.50

9.05 7.00 10.01

 

Kindly contact your nearest branch for getting the interest rate for deposits above 1 crore.

The following terms and conditions will be applicable:
 

1) The above interest rates shall be applicable to all domestic term deposits as well as to NRO Term deposits.

2) Resident Indian senior citizens will get 0.50% additional interest on deposits across all buckets, Irrespective of the Deposit amount. This is not applicable for NRE/NRO Deposits

3) The above rates shall be  applicable to Deposits under Capital Gains Scheme, 1988  (irrespective of the amount of deposit), Unit Deposit, Tax Saver Term Deposit scheme (2006).  No differential rate / No additional interest is payable for senior citizens / staff members.

4) Term Deposits, in respect of which no instructions are received from the depositors, either at the time of placing the deposit or at the time of maturity of deposit, shall be renewed automatically on the date of maturity.  Such automatic renewal shall be done for a period similar to the period of original deposit.  However, the rate of interest shall be the card rate prevailing on the date of maturity / renewal.

5) Premature payment will be allowed on all term deposits.   However, no interest will be paid if the premature withdrawal takes place within 7 days.  If the premature withdrawal of domestic deposits is made after 7 days, interest will be paid at 1% below the rate of interest applicable for the period the deposit remained with the Bank. (Applicable rate is the rate of interest for the period prevailing on the date of deposit). There shall be  no discretion for reduction / waiver of penalty for premature withdrawal of term deposits.  However, penalty shall not be applicable for premature closure of deposits belonging to staff and retired staff members.

6)Premature Payment will be allowed on Domestic and NRO Term Deposits

  • For amounts up to Rs. 5 lac :No Penalty
  • For amounts above 5 lac : 1% Penalty below applicable rate of interest

However no interest will be paid. If the premature payment withdrawal takes place within 7 days.(Applicable rate is the rate of interest prevailing on the date of deposit for the period run). There is no discretion for reduction/waiver of penalty for premature withdrawal of term deposits.

7) There is no penalty for premature closure of Term deposits, if the amount is reinvested and the reinvested term deposit remains with the bank for a period longer than the remaining period of the original term. However, deposits for an amount of Rs.1 crore and above, will be accepted for reinvestment at the sole discretion of the Bank.

8) These instructions for premature withdrawals will apply only to fresh deposits and renewed maturing deposits.

 
Non Resident Deposits
 

RUPEE DEPOSITS UNDER NON-RESIDENT EXTERNAL (NRE)

For   amount below Rs. 1 crore  w.e.f 21-11-2016

Period Percentage per annum *
NRE NRO
7 days to 45 days NA 5.50
46 days to 179 days NA 6.50
180 days to 210 days NA 6.75
211 days to less than 1 Year NA 7.00
1 year to 455 days 6.90 6.90
456 days to less than 2 Years 6.95 6.95
2 years to less than 3 Years 6.85 6.85
3 years to less than 5 years 6.50 6.50
5 years and upto 10 years 6.50 6.50
Period Percentage per annum *
1 year and above but below 2 years 7.75
2 years and above but below 3years 7.75
3 years and above but below 5 years 7.75
Exact 5 Years (1827 Days) 7.75
Above 5 years and upto 10 years 7.50

Annualized Rate For Rupee Deposits under NRE (approximate)

Period Percentage per annum * Annualised rate
1 year 6.90 7.08
2 years 6.85 7.27
3 years 6.50 7.11
4 years 6.50 7.35
 5 Years 6.50 7.60
6 years 6.50 7.87
7 years 6.50 8.14
8 years 6.50 8.43
9 years 6.50 8.73
10 years 6.50 9.05



Kindly contact your nearest branch for getting the interest rate for deposits above 1 crore.

The following terms and conditions will be applicable:

a)No additional interest is available for staff/senior citizens of 60 years and above

b)Premature Payment will be allowed on NRO Term Deposits:

  • For amounts up to ₹ 5 lac: No Penalty
  • For amounts above ₹ 5 lac: 1% Penalty below applicable rate* of interest

However no interest will be paid. If the premature payment withdrawal takes place within 7 days.

c) These instructions for premature withdrawals will apply only to fresh deposits and renewed maturing deposits.
d) For NRE deposits no interest will be paid, if the premature payment withdrawal takes place within 1 Year
e) Term Deposits, in respect of which no instructions are received from the depositors, either at the time of placing the deposit or at the time of maturity of deposit, shall be renewed automatically on the date of maturity. Such automatic renewal shall be done for a period similar to the period of original deposit. However, the rate of interest shall be the card rate prevailing on the date of maturity / renewal.
f) There is no penalty for premature closure of Term deposits, if the amount is reinvested and the reinvested term deposit remains with the bank for a period longer than the remaining period of the original term. However, deposits for an amount of ₹ 1 crore and above, will be accepted for reinvestment at the sole discretion of the Bank.
 
* Applicable rate is the rate of interest prevailing on the date of deposit for the period run. There is no discretion for reduction/waiver of penalty for premature withdrawal of term deposits

 

4. SBT SAPTHATHI
Rate of Interest
8.00%
Period of Deposit
70 weeks (490 days)
Principal amount
  • Minimum: Rs.7,000/- (in multiples of Rs.7,000/- thereafter)
  • Maximum: Rs.70,000/-
Effective Date
Limited period: 11th September 2015 to 17th September 2015 ( for 7 days)
FCNR Deposits

 

Interest Rates For FCNR Deposits (w.e.f. 01-01-2017)

 

Period of Deposit USD GBP EURO JPY CAD AUD CHF SGD HKD
1 year to less than 2 years 1.95 1.17 0.57 0.78 1.85 2.67 0.12 2.22 2.25
2 years to less than 3 years 2.48 1.61 0.85 1.04 2.12 3.08 0.41 2.78 2.79
3 years to less than 4 years 2.69 1.69 0.90 1.04 2.27 3.24 0.48 3.03 3.04
4 years to less than 5 years 2.87 1.78 0.98 1.06 2.39 3.59 0.58 3.25 3.22
5 years 2.98 1.88 1.08 1.08 2.49 3.65 0.69 3.42 3.34

 

FCNR Annualized Yield (Approximately)

 

Period of Deposit USD GBP EURO JPY CAD AUD CHF SGD HKD
1 year to less than 2 years 1.95 1.17 0.57 0.78 1.85 2.68 0.12 2.23 2.26
2 years to less than 3 years 2.52 1.62 0.85 1.04 2.15 3.15 0.41 2.83 2.84
3 years to less than 4 years 2.78 1.72 0.91 1.05 2.33 3.37 0.48 3.14 3.15
4 years to less than 5 years 3.01 1.83 0.99 1.07 2.49 3.82 0.58 3.44 3.40
5 years 3.18 1.96 1.10 1.10 2.63 3.96 0.70 3.69 3.60

 

Rupee Premium Deposits

 

Indicative Rates For Rupee Premium Deposits (As on 16-01-2017)

 

CURRENCY SPOT RATE FORWARD RATE RETURN RATE
AUD 51.08 52.58 5.74
CHF 67.62 71.82 6.34
SGD 47.83 49.61 6.09
HKD 8.90 9.07 4.29
CAD 52.00 54.16 6.13
EUR 72.48 76.70 6.45
GBP 82.17 86.19 6.15
JPY 59.89 63.23 6.43
USD 68.35 71.04 6.01
 
 
RFC Accounts

 

RFC Accounts (in USD)
(w.e.f 01-01-2017)

 

RFC Term Deposits - 1 year to less than 2 years 1.95 %
RFC Term Deposits - 2 years to less than 3 years 2.48 %
RFC Term Deposits - 3 years only 2.69 %