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Interest Rates


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DOMESTIC DEPOSITS (Also applicable for NRO Accounts)
Interest rate on Domestic Deposits w.e.f April 01st, 2013
Period Single Deposit less than Rs.100.00 lacs 
           General         Senior Citizens*
7 days to 14 days -- --
15 days to 45 days 4.00% 4.50%
46 days to 90 days 4.50% 5.00%
91 days to 180 days 7.00% 7.50%
181 days to 299 days 8.50% 9.00%
300 days 8.75% 9.25%
301 days to less than 1 year 8.50% 9.00%
1 year to less than 3 years 9.00% 9.50%
3 years to upto & incl. 10 years 8.75% 9.25%
Tax Gain 8.75% 9.25%

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. 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.
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 01st April 2013*
Period Single Deposit less than Rs.100 lacs
1 year to less than 3 years 9.00% p.a
3 years to upto and incl. 10 years 8.75% 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.

FCNR(B) DEPOSITS
Interest rate per annum on FCNR(B) Deposits with effect from 1st May 2013
Period USD GBP EURO AUD CHF
1 year to less than 2 years

2.70%

2.89%

2.40%

5.51%

2.25%

2 years to less than 3 years

2.36%

2.59%

2.39%

4.78%

2.11%
3 years to less than 4 years

3.45%

3.65%

3.48%

5.92%

3.17%

4 years to less than 5 years

3.60%

3.75%

3.60%

6.12%

3.28%
5 years

3.82%

3.90%

3.75%

6.26%

3.39%
RFC ACCOUNT
Interest rate per annum on RFC Deposits with effect from 1st May 2013
Period USD GBP EURO
1 year to less than 2 years

2.70%

2.89%

2.40%

2 years to less than 3 years

2.36%

2.59%

2.39%
3 years

3.45%

3.65%

3.48%
RFC SAVINGS ACCOUNT
USD GBP EURO
Savings Bank A/c

 0.50%

2.00%

1.00%
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)      
  General   Senior Citizen  

 Period

 ROI Annualized Yield  ROI Annualized Yield 
7 days to 14 days - -  - - - - 
15 days to 45 days 4.00% 4.00% ( - ) 4.50% 4.50% ( - )
46 days to 90 days 4.50% 4.50% ( - ) 5.00% 5.00% ( - )
91 days to 180 days 7.00% 7.00% ( - ) 7.50% 7.50% ( - )
181 days to less than 1 year 8.50% 8.68% (3 Q) 9.00% 9.20% (3 Q)
1 year to less than 3 years 9.00% 9.31% (4 Q) 9.50% 9.84% (4 Q)
3 years to upto and incl. 10 years 8.75% 9.88% (12 Q) 9.25% 10.52% (12 Q)

(The period (in quarters) corresponding to which the annualized yield is determined are mentioned in the brackets)      

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

Period

 ROI   Annualized Yield  
1 year to less than 3 years 9.00%   9.31%   (4 Q)
3 years to upto & incl. 10 years

8.75%

 9.88% (12 Q)

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