You are here

Interest Rates


Select category

DOMESTIC DEPOSITS (Also applicable for NRO Accounts)
Interest rate on Domestic Deposits w.e.f 19th February 2016

Period

Single Deposit less than Rs.100.00 lacs 

 

         General        

Senior Citizens*

7 days to 45 days

4.00%

4.50%

46 days to 90 days

7.00%

7.50%

91 days to less than 1 year

7.10%

7.60%

1 year to less than 15 months

7.60%

8.10%

15 Months

7.70%

8.20%

Above 15 months to 3 years

7.60%

8.10%

Above 3 years up to and incl.10 years

7.50%

8.00%

Tax Gain

7.50%

8.00%

Rates for single deposit of Rs.100 lacs & above and Premature closure penalty thereon to be obtained from               Head Office - (Treasury Dept.) on a daily basis.

* Special rates for Senior Citizens, applicable only to Residents individually or jointly with another resident citizen.

Penalty is applicable for premature closure of deposits for withdrawal as well as for reinvestment of Term Deposits including Recurring Deposits and Daily Savings Deposits at the rate of 0.50% for deposit amounts below Rs.15 lakhs and 1% for deposit amounts of Rs.15 lakhs and above. The effective rate will be the net of applicable rate for the period of deposit remained with bank (less the penal rate) or the net of original contracted rate (less penal rate) whichever is less.

DOMESTIC SAVINGS ACCOUNT(Also Applicable for NRO Accounts)

Period

Rate

Savings Bank A/c (w.e.f 03.05.2011)

4.00% per annum

 

NRE DEPOSITS
Interest rate on NRE Deposits with effect from 19th February 2016

Period

Single Deposit less than Rs.100 lacs

1 year to less than 15 months

7.60% p.a

15 months

7.70% p.a

Above 15 months to 3 years

7.60% p.a

Above 3 years up to and incl.10 years

7.50% p.a

  Rates for single deposit of Rs.100 lacs & above and Premature closure penalty thereon to be obtained from            Head Office - (Treasury Dept.) on a daily basis.

> The revised rates will apply only to fresh deposits and on renewal of maturing deposits.

> No interest will be paid if closed within one year.

> No additional interest will be paid for Senior Citizens under NRE Term deposit schemes.

> There is no premature closure penalty charges for NRE Term deposits less than Rs.100 lacs.

 

NON CALLABLE DEPOSITS (Applicable for Domestic / NRO and NRE Accounts)
Interest rate on Non Callable Domestic / NRO and NRE Deposits w.e.f 19th February 2016

Period

Single Deposit above Rs. 15.00 lakhs and less than Rs.100.00 lakhs 

 

         General        

Senior Citizens*

15 Months ( SIB MAXIMO)

7.80%

8.30%

*Special interest rate for Senior Citizens is not applicable to NRO and NRE customers.

FCNR(B) DEPOSITS
Interest rate per annum on FCNR(B) Deposits with effect from 1st May 2016

Period

USD

GBP

EURO

AUD

CHF

JPY

CAD

1 year to less than 2 years

1.80%

1.64%

0.88%

3.08%

0.35%

0.96%

1.98%

2 years to less than 3 years

1.92%

1.87%

0.87%

3.04%

0.32%

0.90%

2.04%

3 years to less than 4 years

2.14%

2.06%

1.02%

3.18%

0.43%

0.99%

2.17%

4 years to less than 5 years

2.25%

2.15%

1.07%

3.49%

0.49%

1.01%

2.22%

5 years

2.36%

2.24%

1.16%

3.49%

0.56%

1.05%

2.28%

> There is no pre closure penalty for FCNR(B) deposits

No interest will be paid if closed within one year and one day (366days). 

 

RFC ACCOUNT
Interest rate per annum on RFC Deposits with effect from 1st May 2016



 

Period USD GBP EURO AUD CHF JPY
1 year to less than 2 years

1.80%

1.64%

0.88%

3.08% 0.35% 0.96%

2 years to less than 3 years

1.92%

1.87%

0.87%

3.04% 0.32% 0.90%
3 years

2.14%

2.06%

1.02%

3.18% 0.43% 0.99%
RFC SAVINGS ACCOUNT

  USD GBP EURO AUD  CHF  JPY 
Savings Bank A/c( w.e.f 11.11.2015)

 0.50%

0.50%

0.50%

- - -

Effective Annualized Rate of Return (Indicative only)

 

In keeping with Reserve Bank of India guidelines to provide information on effective annualized rate of return on deposits of various maturities, the annualized rate of return for the Kalpakanidhi* (KND - Quarterly Compounding) deposits are indicated.      

Annualized Rate of Return at minimum quarterly multiple of the maturity bucket for Kalpakanidhi* (KND - Quarterly Compounding) Domestic Deposits (Also Applicable for NRO KND Deposits)      

(For Single deposits of less than Rs.100 lakhs)      

Period   General   Senior Citizen
 ROI Annualized Yield  ROI Annualized Yield
6 months 7.10% 7.16% 7.60% 7.67%
1 year 7.60% 7.82% 8.10%  8.35%
15 Months 7.70% 8.00% 8.20% 8.54%
2 years 7.60% 8.13% 8.10%  8.70%
3 years 7.60% 8.45% 8.10% 9.07%
4 years 7.50% 8.65% 8.00%  9.32%
5 years 7.50% 9.00%  8.00%  9.72%
6 years 7.50% 9.36%  8.00%  10.14%
7 years 7.50% 9.75%  8.00%  10.59%
8 years 7.50% 10.15%  8.00%   11.06%
9 years  7.50% 10.58%  8.00%   11.55%
10 years  7.50% 11.02%   8.00%  12.08%
 

Annualized Rate of Return at minimum quarterly multiple of the maturity bucket for NRE KND* Deposits       

Period ROI Annualized Yield
1 year 7.60%  7.82%
15 months 7.70% 8.00%
2 years 7.60%  8.13%
3 years 7.60%  8.45%
4 years  7.50%  8.65%
5 years  7.50%  9.00%
6 years  7.50%  9.36%
7 years  7.50%  9.75%
8 years  7.50%  10.15%
9 years  7.50%  10.58%
10 years  7.50%  11.02%

* KND Deposits shall be opened with maturity of quarterly multiples only.      

* Special rates for Senior Citizens, applicable only to Residents individually or jointly with another resident citizen.