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DOMESTIC DEPOSITS (Also applicable for NRO Accounts)
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Interest rate on Domestic Deposits w.e.f August 10th, 2011
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| Period |
Single Deposit of less than Rs.15.00 lacs per annum |
Single Deposit of Rs.15.00 lacs to (incl) Rs.100.00 lacs |
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General |
Senior Citizens* |
General |
Senior Citizens* |
| 7 days to 14 days |
-- |
-- |
-- |
-- |
| 15 days to 45 days |
4.00% |
4.50% |
4.00% |
4.50% |
| 46 days to 90 days |
4.50% |
5.00% |
4.50% |
5.00% |
| 91 days to 180 days |
7.00% |
7.50% |
7.00% |
7.50% |
| 181 days to 299 days |
8.50% |
9.00% |
8.50% |
9.00% |
| 300 days |
10.00% |
10.50% |
10.00% |
10.50% |
| 301 days to less than 1 year |
8.50% |
9.00% |
8.50% |
9.00% |
| 1 year to 2 years |
9.75% |
10.25% |
9.75% |
10.25% |
| Above 2 years to 5 years |
9.25% |
9.75% |
9.25% |
9.75% |
| Above 5 years |
9.50% |
10.00% |
9.50% |
10.00% |
| Tax Gain |
9.25% |
9.75% |
9.25% |
9.75% |
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Rates for single deposits of above Rs 100.00 lacs to be obtained from Head Office - (Treasury Dept.) on a daily basis. Premature closure penalty also will be obtained from Treasury Dept. |
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* 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. Penalty shall be imposed by making payment of interest applicable for the actual period the deposit has run, less 0.50% or 1% as the case may be.
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