Interest Rates

The revised rates of interest are as under and shall be effective from 18.03.2013

The interest for Saving Deposits shall continue at 4.00% p.a. as per RBI guidelines.

The revised rates of interest on Term Deposits and Recurring Deposits are as under and shall be effective from 18.03.2013
 

Period

 For Public
(%)

For Senior Citizen / Staff 
( % )

 For HNW*
( % )

30 days to 90 days

6.00

6.25

6.25
91 days to 270 days

6.50

6.75

 6.75

271 days to 365 days

 8.00 8.25 8.25
More than 12 months to 24 months 9.00 9.25 9.25
More than 24 months to 36 months 9.50 9.75 9.75
More than 36 months to 60 months 8.75 9.00 9.00


The revised rates above will be applicable to all Term deposits kept under monthly / Quarterly / Cumulative (KTY) / Recurring deposit schemes.

Special Deposit Scheme Effective From 18.03.2013 :

 

Period

 For Public
(%)

For Senior Citizen / Staff 
( % )

 For HNW*
( % )
More than 12 months to 24 months (#)

10.25

10.50

10.50

• We also accept Corporate Deposits for which you may contact any of our Branches.

Applicability:

(#) Simple Interest payable at Monthly / Quarterly intervals.

The revised rates are applicable to fresh deposits and deposits falling due for payment on or after 18.03.2013 only.

The interest rates of above Special Deposit Scheme will be applicable to Term deposits kept under Monthly / Quarterly Scheme.

Other regular features:
(*) High Net Worth (HNW) Deposits:

Single deposit of Rs. 15,00,000/- and above will qualify for HNW rates as per the Table shown above.

Penalty for Premature Withdrawal:
Penalty for pre-mature payment will continue at 1% other than deposits reinvested for the longer period of maturity beyond the expiry of premature deposit.

Period:
Deposit over 60 months, are not to be accepted as a matter of policy. Hence, no rate of interest is prescribed for deposits over 5 years.

JAN-KAR Bachat Yojana:
The Interest Rate of JANKARBACHAT YOJANA is revised to 9.25% p.a.

Sr. Deputy General Manager