DOMESTIC TERM DEPOSITS (Also applicable for NRO Accounts) Interest rate on Domestic Term Deposits w.e.f 14th June 2022
Period Single Deposit less than Rs.2 crore
  General Senior Citizens*
7 days to 30 days 2.65% 3.15%
31 days to 90 days 3.25% 3.75%
91 days to 180 days
4.10% 4.60%
181 days to 270 days
4.40%
4.90%
271 days to less than 1 year 4.75%
5.25%
1 year to less than 30 months
5.30% 5.80%
30 months to less than 3 years 5.35% 5.85%
3 years to less than 5 years
5.50% 6.00%
5 years to up to and including 10 years 5.80% 6.30%
Tax Gain ( 5 Years ) 5.80% 6.30%  

 

* Special rates for Senior Citizens, applicable only to Residents individually or jointly with another resident citizen. Penalty is applicable for premature withdrawal of deposits including Recurring 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 for deposits opened/renewed upto 31st May 2022. The effective rate will be the net of applicable rate to the amount and period for which the deposit remained with the bank (less the penal rate) or the net of original contracted rate (less penal rate) whichever is less. Effective from 1st June 2022,penalty for premature withdrawal of Retail Term Deposits (including NRE & Recurring Deposits) will be applicable at the rate of 0.50% for deposit amounts below Rs. 5 lakhs and 1% for deposit amounts of Rs. 5 lakhs and above.The new change in penalty is applicable for all term deposits opened or renewed w.e.f. 1st June 2022.The effective rate will be the net of applicable rate to the amount and period for which the deposit remained with the bank (less the penal rate) or the net of original contracted rate (less penal rate) whichever is less.