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DOMESTIC TERM DEPOSITS (Also applicable for NRO Accounts)
Interest rate on Domestic Term Deposits w.e.f 20th April 2019
Period Single Deposit less than Rs.2 crore
  General Senior Citizens*
7 days to 45 days 4.00% 4.50%
46 days to 90 days 6.00% 6.50%
91 days to less than 1 year 6.50% 7.00%
1 year 7.40% 7.90%
Above 1 year to up to and incl. 2 years 7.00% 7.50%
Above 2 years to less than 3 years 7.45% 7.95%
3 years and above up to and incl. 10 years 7.25% 7.75%
Tax Gain (5 years) 7.25% 7.75%

 

* 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.

ALL SAVINGS ACCOUNTS (Also Applicable for NRO/ NRE Accounts)
Interest rate on Savings Accounts w.e.f 08th February 2019

End of the day Balance Rate of Interest
Up to Rs. 1 lakh 3.50% per annum
Above Rs. 1 lakh - Up to Rs. 5 crore 4.00% per annum
Above Rs. 5 crore - Up to Rs. 50 crore 6.40% per annum
Above Rs. 50 crore and less than Rs. 100 crore 6.60% per annum
Rs.100 crore and above 7.00% per annum

 

NRE TERM DEPOSITS
Interest rate on NRE Term Deposits with effect from 20th April 2019

Period Single Deposit less than Rs.2 crore
1 year 7.40% p.a
Above 1 year to up to and incl. 2 years 7.00% p.a
Above 2 years to less than 3 years 7.45% p.a
3 years and above up to and incl. 10 years 7.25% p.a

Ø The revised rates will apply only to fresh deposits and on renewal of maturing deposits.
Ø No interest will be paid if closed within one year.
Ø No additional interest will be paid for Senior Citizens under NRE Term deposit schemes.
Ø   There is no premature closure penalty charge for NRE Term deposits less than Rs.2 crore














 

 

NON CALLABLE DEPOSITS (Applicable for Domestic / NRO and NRE Accounts)
Interest rate on Non Callable Domestic / NRO and NRE Deposits w.e.f 20th April 2019

Period Single Deposit above Rs. 15.00 lakhs and less than Rs.2 crore
  General Senior Citizens*
15 Months ( SIB MAXIMO) 7.05% 7.55%
*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 01st July 2019

 

 

   

Currency wise units Less than 250,000 250,000-500,000 Above 500,000
Maturity period/Currency USD GBP EUR USD GBP EUR USD GBP EUR
1 Year to less than 2 Year  3.04 % 1.85 % 0.70 % 3.14 % 1.95 % 0.80 % 3.24 % 2.05 % 0.90 %
2 Year to less than 3 Year  2.78 % 1.84 % 0.63 % 2.78 % 1.84 % 0.63 % 2.78 % 1.84 % 0.63 %
3 Year to less than 4 Year 2.72 % 1.85 % 0.66 % 2.72 % 1.85 % 0.66 % 2.72 % 1.85 % 0.66 %
4 Year to less than 5 Year 2.72 % 1.87 % 0.71 % 2.72 % 1.87 % 0.71 % 2.72 % 1.87 % 0.71 %
5 Year  2.76 % 1.90 % 0.78 % 2.76 % 1.90 % 0.78 % 2.76 % 1.90 % 0.78 %

Maturity period/Currency AUD CHF JPY CAD
1 Year to less than 2 Year 2.13 % 0.32 % 1.00 % 3.15 %
2 Year to less than 3 Year  2.04 % 0.21 % 0.91 % 2.79 %
3 Year to less than 4 Year 2.05 % 0.24 % 0.89 % 2.74 %
4 Year to less than 5 Year 2.16 % 0.30 % 0.89 % 2.72 %
5 Year  2.22 % 0.37 % 0.90 % 2.73 %

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

Ø 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 01st July 2019

 

 

 

 

Currency wise units Less than 250,000 250,000-500,000 Above 500,000
Maturity period/Currency USD GBP EUR USD GBP EUR USD GBP EUR
1 Year to less than 2 Year 3.04 % 1.85 % 0.70 % 3.14 % 1.95 % 0.80 % 3.24 % 2.05 % 0.90 %
2 Year to less than 3 Year  2.78 % 1.84 % 0.63 % 2.78 % 1.84 % 0.63 % 2.78 % 1.84 % 0.63 %
3 Year 2.72 % 1.85 % 0.66 % 2.72 % 1.85 % 0.66 % 2.72 % 1.85 % 0.66 %

 

Maturity period/Currency        AUD        CHF       JPY
1 Year to less than 2 Year 2.13 % 0.32 % 1.00 %
2 Year to less than 3 Year  2.04 % 0.21 % 0.91 %
3 Year 2.05 % 0.24 % 0.89 %

 

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.2 crore)

Period General Senior Citizen
ROI Annualized Yield ROI Annualized Yield
6 months 6.50% 6.55% 7.00% 7.06%
1 year 7.40% 7.61% 7.90% 8.14%
2 years 7.00% 7.44% 7.50% 8.01%
3 years 7.25% 8.02% 7.75% 8.63%
4 years 7.25% 8.32% 7.75% 8.98%
5 years 7.25% 8.65% 7.75% 9.36%
6 years 7.25% 8.98% 7.75% 9.75%
7years 7.25% 9.34% 7.75% 10.16%
8years 7.25% 9.71% 7.75% 10.60%
9years 7.25% 10.10% 7.75% 11.06%
10years 7.25% 10.51% 7.75% 11.55%
 

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

Period ROI Annualized Yield
1 year 7.40% 7.61%
2 years 7.00% 7.44%
3years 7.25% 8.02%
4years 7.25% 8.32%
5years 7.25% 8.65%
6years 7.25% 8.98%
7years 7.25% 9.34%
8years 7.25% 9.71%
9years 7.25% 10.10%
10years 7.25% 10.51%

 

 

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

DOMESTIC RATE OF INTEREST - GENERAL

Marginal Cost of funds based Lending Rate (MCLR) for different tenors

MCLRs effective from 20th  July 2019, please click here

Base Rate

Base Rate (BR) 10.00% (w.e.f 20th September 2018)

Benchmark Prime Lending Rate  

 Benchmark Prime Lending Rate (BPLR) 15.00% (w.e.f 11.11.2015)

SCHEMATIC LOANS
Schematic Loans (Floating Rate)
Sl No: Category Interest rate
1 Home Loan Scheme (Income Program, Repairs & renovation and Reimbursement) 1 year MCLR + 0.00% or
6 Month MCLR + 0.10%
  Home Loan Surrogate 1 Year MCLR+1.00% or
6 months MCLR+1.10%
  Home Loan Saver 1 Year MCLR+1.00%
  Housing Loan SMART (Income Program, Repairs & renovation and Reimbursement) 1 Year MCLR+0.50% or
6 months MCLR+0.60%
  Housing Loan SMART (Surrogate Program) 1 Year MCLR+1.00%
2 Loan to Business Correspondents 1 Year MCLR + 0.50%
3 SIB Car Loan (for new car) 1 Year MCLR to MCLR(1 Year) +1.25% Based on Bureau score
  SIB Car Loan (for used cars) 1Year MCLR+3.20% to 1 Year MCLR+7.20% (Based on Bureau score)
4 SIB Mobiloan Commercial /Agricultural (for new vehicles) 1 Year MCLR + 2.90% to
1 Year MCLR + 3.90%
  SIB Mobiloan Commercial /Agricultural (for used vehicles) 1 Year MCLR+3.40% to
1 Year MCLR+4.40%
5 SIB Rental 1 Year MCLR + 2.50%
6 Vitjnan Pradhan Scheme Up to Rs. 7.50 Lacs (For Boy Students) 1 year MCLR + 3.50%
  Vitjnan Pradhan Scheme Up to Rs. 7.50 Lacs (For Girl Students) 1 year MCLR + 3.00%
  Vitjnan Pradhan Scheme above Rs. 7.50 Lacs (For Boy Students) 1 year MCLR + 3.00%
  Vitjnan Pradhan Scheme above Rs. 7.50 Lacs (For Girl Students) 1 year MCLR + 2.50%
7 Vidyanidhi 1 year MCLR + 5.20%
8 SIB Excellence 6 month MCLR to 1 Year MCLR
9 EDUSUM- Loans upto and including Rs. 4 Lakhs 1 year MCLR + 5.80%
  EDUSUM- Loans above Rs. 4 Lakhs 1 year MCLR + 6.30%
10 SIB Global Education (above Rs. 20.00 Lakhs up to Rs. 75.00 Lakhs) 1 Year MCLR + 2.50%
  SIB Global Education (above Rs. 75.00 Lakhs up to Rs. 150.00 Lakhs) 1 Year MCLR + 2.00%
11 Skill Loan Scheme 1 year MCLR + 3.00%
12 SIB Pharma Plus 1 year MCLR + 0.80% to 1 year MCLR + 2.80% (Based on rating score card/borrower rating)
13 SIB Decor 1 year MCLR + 3.00%
14 SIB Mini Rental Scheme 1 year MCLR + 2.50%
15 Gold Power (Other than Repledge) 1 year MCLR + 1.40%
  Gold Power-Re-pledge 1 year MCLR + 1.40%
  Gold Power NEO (Max, Plus, Mini) 1 year MCLR + 1.40%
16 SIB Loan For Purchasing Commercial Property 1 Year MCLR + 2.00%
17 SIB Business Loan (income program)

SIB Business Loan (non income program)
1 Year MCLR + 4.20% to 1 Year MCLR + 6.20%

1 Year MCLR + 6.20% to 1 Year MCLR + 8.20%
18 SME Composite Loan 1 Year MCLR + 0.50% to 1 Year MCLR + 2.50% (Based on rating score/borrower rating)
19 Trader's Overdraft 1 Year MCLR + 0.50% to 1 Year MCLR + 2.50% (Based on rating score/borrower rating)
20 SIB Tourism Plus 1 Year MCLR to 1 Year MCLR + 3.00% (based on borrower rating)
21 SIB Travel Agent Scheme 1 Year MCLR + 1.00% to 1 Year MCLR + 2.50% (Based on availability of collateral)
 22 SIB Personal Loan Scheme (Income program) 1 Year MCLR + 2.70% to 1 Year MCLR + 5.20% (Based on Bureau score)
  SIB Personal Loan Scheme (Non Income program) 1 Year MCLR + 2.20% to 1 Year MCLR + 4.70% (Based on Bureau score)
 23 Two Wheeler Loan 1 Year MCLR+3.00% to 1 Year MCLR+5.00% (Based on Bureau score)
 24 SIB Superbike 1 Year MCLR+0.60% to 1 Year MCLR+1.10% (Based on Bureau score)
 25 Mortgage Loan 1 Year MCLR+1.25% to 1 Year MCLR+2.50% (Based on Bureau score/rating)
 26 SIB GST Business Loan 1 Year MCLR+0.50% to 1 Year MCLR+2.50% (Based on rating score card/borrower rating)
 27 MSME Star 1 Year MCLR+0.50% to 1 Year MCLR+2.50% (Based on rating score card/borrower rating)
Schematic Loans (Fixed Rate)
Sl No: Category Interest rate
1
Gold Max Scheme (For other purpose) (6 month)
6 Month MCLR + 1.30%
2
Gold Max Scheme (For agricultural purposes)
6 Month MCLR + 0.60%
3
Gold Loan General
1 Year MCLR + 0.90%
4
Gold Loan Agri
1 Year MCLR + 0.15%
5
Gold Loan Agri up to & incl 3 lakhs-Interest Subvention
7%
6
Gold Loan - Other Priority Sector
1 Year MCLR + 0.90%
7
Gold Max Plus (3 months)
3 Month MCLR + 1.40%
8
Gold Loan Monthly Interest Payment
1 Year MCLR + 0.90%
9
SIB Travel Delight
1 Year MCLR + 2.00% to 1 Year MCLR + 4.50% (Based on availability of collateral)

 

INTEREST RATE RANGE AND ANNUAL PERCENTAGE RATE

Interest Rate Range and Mean Interest Rate

Interest Rate Range of contracted loans for the past quarter (January-March 2019) for different categories of advances granted to individual borrowers:
Category
Mean Interest
Interest rate range*
SIB Home Loan
9.24%
9.00% - 11.95%
Mortgage Loan
11.25%
9.45% - 11.95%
Car Loan 9.61%
9.45% - 15.40%
Gold Loan (General)
10.36%
9.45% - 12.15%
Gold loan (Agri)
9.41%
7.00% - 9.60%
Educational Loan
12.46%
8.00% - 17.95%
Personal Loan
13.03%
10.00% - 15.65%
Loan against property
11.23%
10.10% - 11.95%
Loan against commercial property
11.25%
10.45% - 11.45%
OD against property
11.28%
9.45% - 11.55%
SIB Decor 12.45% 12.45% - 12.45%
SIB Mini Rental Scheme 11.41% 9.95% - 11.95%
SIB Super Bike Loan/Two wheeler loan 13.11% 9.45% - 14.45%

*Minimum & Maximum rate of interest is charged as per past quarter


Annual Percentage Rate

 

Annual Percentage Rate (updated as on 24.06.2019)

ADDITIONAL INTEREST FOR OVERDUE ACCOUNTS
ADDITIONAL INTEREST FOR OVERDUE ACCOUNTS

 

An additional interest to all borrowal accounts will be charged if the account is in overdue, as mentioned below,
 

Sl No
Overdue days  between
Category
Additional Interest charged
1.
31 - 60 days
SMA - 1
Existing/Contracted Rate of Interest + 0.50%
2.
61 - 90 days
SMA - 2
Existing/Contracted Rate of Interest + 1.00%

 
The following type of accounts are excluded from the above guidelines;
 
a)      Agriculture loans.
b)      Gold Loans
c)      FSLDs
d)     Simple Interest Loans
e)      Staff Loans.
f)       FBP and Packing Credit.
 
The norms are applicable to all borrowal accounts except stated above irrespective of the exposure.

Bulk Deposit

 

 

Interest rates for Resident Term Deposits of Rs.2 Crore and above w.e.f 24.07.2019

 Tenor
Rs.2.00 Cr to less than Rs.5.00 Cr
Rs.5.00 Cr to less than Rs.10.00 Cr
Rs.10.00 Cr to less than Rs.25.00 Cr
Rs.25 Cr to less than Rs.50.00 Cr
Rs.50.00 Cr to less than Rs. 100 cr
Rs. 100 cr and above
 
7-14 Days
5.00%
5.00%
5.00%
5.00%
5.00%
5.00%
15-30Days
 
5.10%
5.10%
5.10%
5.10%
5.25%
5.30%
31-60 Days
5.75%
5.75%
5.75%
5.75%
 
5.75%
5.75%
61- 89 Days
6.00%
6.00%
6.00%
6.00%
6.00%
6.00%
90-180 Days
 
6.25%
6.25%
6.25%
6.35%
6.25%
6.25%
181 days to less than 1 year
6.35%
6.35%
6.35%
6.35%
6.35%
6.35%
 1 Year
7.30%
7.30%
7.30%
7.30% 
7.30%
7.30%
1 Year 1 day to 370 Days
7.30%
7.30%
7.30%
7.30% 
7.30%
7.30%
Above 370 Days to up to and including 2 Years
7.30%
7.30%
7.30%
7.30%
7.30%
7.30%
Above 2 Years to up to and including 3 Years
7.60%
7.60%
7.50%
7.50%
7.50%
7.50%
Above 3 Years to up to and including 5 Years
7.10%
7.10%
7.00%
7.00%
7.00%
7.00%
Above 5 Years to up to and including 10 Years
7.00%
7.00%
6.90%
6.90%
6.90%
6.90%

Terms & condition
Ø The above rates are subject to change without notice.
Ø No additional interest will be paid to Senior citizen for deposits of Rs.2.00 Crore and above
Ø Premature closure penalty charges of 1% is applicable

NRE Bulk Deposit

 

Interest rates for NRE Term Deposits of Rs.2 Crore and above w.e.f 24.07.2019

 Tenor
Rs.2.00 Cr to less than Rs.5.00 Cr
Rs.5.00 Cr to less than Rs.10.00 Cr
Rs.10.00 Cr to less than Rs.25.00 Cr
Rs.25 Cr to less than Rs.50.00 Cr
Rs.50.00 Cr to less than 
Rs.100.00  cr
Rs.100.00 Cr and above
 
 1 Year
7.30%
7.30%
7.30%
7.30%
7.30%
7.30%
1 Year 1 day to 370 Days
7.30%
7.30%
7.30%
7.30% 
7.30%
7.30%
Above 370 Days to up to and including 2 Years
7.30%
7.30%
7.30%
7.30%
7.30%
7.30%
Above 2 Years to up to and including 3 Years
7.60%
7.60%
7.50%
7.50%
7.50%
7.50%
Above 3 Years to up to and including 5 Years
7.10%
7.10%
7.00%
7.00%
7.00%
7.00%
Above 5 Years to up to and including 10 Years
7.00%
7.00%
6.90%
6.90%
6.90%
6.90%

Terms & condition
Ø The above rates are subject to change without notice.
Ø No additional interest will be paid to Senior citizen for deposits of Rs.2.00 Crore and above
Ø Premature closure penalty charges of 1% is applicable