DOMESTIC TERM DEPOSITS (Also applicable for NRO Accounts) Interest rate on Domestic Term Deposits w.e.f 24th February 2021
Period Single Deposit less than Rs.2 crore
  General Senior Citizens*
7 days to 45 days 3.50% 4.00%
46 days to 90 days 3.75% 4.25%
91 days to less than 1 year
4.75% 5.25%
1 year to less than 3 years
5.40% 5.90%
3 years to less than 5 years
5.50% 6.00%
5 years
5.65% 6.15%
Above 5 years to up to and including 10 years 5.50% 6.00%
Tax Gain ( 5 Years ) 5.65% 6.15%  


* 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.