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Interest Rates
Revised Interest
Rate Structure
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 18
months |
9.25 |
9.50 |
9.50 |
|
More than 18
months to 24
months |
9.50 |
9.75 |
9.75 |
|
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 |
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Applicability : The revised
rates are applicable to
fresh deposits and deposits
falling due for payment on
or after
18.03.2013 only.
The revised rates above will
be applicable to all Term
deposits kept under Monthly
/ Quarterly / Cumulative (KTY)
/ Recurring deposit
schemes..
Special Deposit Schemes
effective from 18.03.2013 :
|
Period |
For Public
(%) |
For
Senior
Citizen /
Staff
( % ) |
For HNW*
( % ) |
|
More than 12
months to 24
months (#) |
9.75 |
10.00 |
10.00 |
Applicability :
(#) Simple Interest payable at Monthly / Quarterly intervals
The interest rates of above Special Deposit Scheme will be applicable to
Term deposits kept under Monthly /
Quarterly schemes except in
case of Corporate Deposits.
Corporate Deposits :
i) The minimum single amount for the deposit is
 25,00,000/-
ii) The deposits can be maintained for a period ranging from 30 days to
90 days.
iii) The ‘Corporate Deposits’ Scheme will be applicable to Fixed Deposits
(FD) only.
iv) Withdrawal before maturity is not permitted.
v) The deposit/s may be accepted from Registered Trusts, Registered
Co-operative Societies, Private or
Public Limited Companies.
(Individuals, Hindu Undivided Family (HUF) or
Registered/ Unregistered Partnership
Firms are not eligible to place this
deposit.)
vi) The rate of interest will be as per market scenario prevailing at
that point of time.
Other regular features :
(*) High Net Worth (HNW) Deposits :
Single deposit of `15,00,000/- and above will qualify for HNW rates as
per the Table shown above except in
case of Corporate
Deposits Scheme wherein the minimum deposit is
25,00,000/-
Penalty for Premature Withdrawal
:
Penalty for pre-mature repayment to be charged at 1%.
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 continues unchanged at 9.25%
p.a.
Savings Bank Rate:
The interest for Saving Deposits shall continue at 4.00% p.a.
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