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Interest Rates

DEPOSIT SCHEMES

We toil day in and day out so that our family can have a better tomorrow. We keep looking for opportunities to invest our hard earned money so our loved ones can have a brighter future. That’s why we need to plan our investments prudently so that the effort that we put in for the happiness of our family does not go waste.

The key to building a stable and secure future lies not only in saving regularly but also in taking steps to maximize and protect all that we have saved. In order to strike this balance, it certainly helps if we make investments in low risk, safe options that give assured returns over a period of time and help us in financially securing the future of our loved ones.

To provide such an assurance and stability to your investment and saving options, we present the various schemes with guaranteed returns and free from speculation or risk.

Interest rates on Fixed Deposits w.e.f 26-01-2018

Duration Rate of Interest p.a
3 Years and above 7.50%
1 Year to less than 3 Years 8.00%
181 Days to less than 1 Year 7.25%
91 Days to 180 Days 6.75%
31 Days to 90 Days 6.50%

* Interest rates are subject to change.

Special Deposit Scheme

Duration Rate of Interest p.a
500 Days (Simple Interest) 8.50% *
300 Days (Simple Interest) 7.50% *

Aishwarya Samriddhi Yojana-999

Rate
9.00% 0.25% (Extra for Female*) 0.50% (Extra for Senior Citizens*- MAX)

Deposit Schemes

Cumulative Deposits

In a cumulative deposit, the interest accrued to your deposit at the end of each quarter is re-invested along with the principal. The tenure of your deposit must be minimum of one year. At the end of each quarter, the interest and principal are both rolled over, and the interest is calculated on the total sum.

Quarterly Interest

Interest will be paid on Quarterly rests. These deposits are non-cumulative deposits and only the principal deposit amount will be rolled over and interest will be credited to your designated account with the Bank, transferred to your designated account with any other Bank in India or paid out.

Monthly Interest

Interest will be paid on Monthly rests on discounted basis. These deposits are non-cumulative deposits and only the principal deposit amount will be rolled over and interest will be credited to your designated account with the Bank, transferred to your designated account with any other Bank in India or paid out.


Short Term Deposits

For deposits with tenure of less than 365 days are Short Term Deposits. Interest for these deposits will be calculated at Simple Interest. Interest will be calculated and paid on maturity of the deposit. Period for calculation of interest will be considered in number of days.

Recurring Deposit

Recurring Deposit scheme gives an opportunity to build up your savings through regular monthly deposits of fixed sum over a fixed period of time. Interest on Recurring deposit will be paid on Quarterly rests and will be cumulative in nature.


Features of Recurring Deposits
  • Recurring deposits are accepted in equal monthly installments of minimum Rs. 100.00 and above.
  • The minimum period a depositor can opt is one year and above.
  • Monthly installment for the Recurring Deposit can be transferred from depositors other account with the Bank. Depositor may give standing instructions to transfer the monthly installment from their other accounts with the Bank.
Reinvestment / Withdrawal
  • All withdrawals or renewal of Fixed Deposits can only be made at the Branch where the deposit was originally booked.
  • For premature withdrawal of the deposit, interest will be paid only for the period for which the deposit is maintained with the Bank and at the rate applicable for such period minus 1% for the applicable period.
  • Tax at source will be deducted as per the Income Tax regulation prevalent from time to time.

Deposits are insured with Deposit Insurance Credit Guarantee Corporation (DICGC) as per R.B.I. guidelines.