DOMESTIC TERM DEPOSITS (Also applicable for NRO Accounts) Interest rate on Domestic Term Deposits w.e.f 21st October 2024

Period	Single Deposit less than Rs.3 crore
	General	Senior Citizens*
7 days to 30 days	2.90%	3.40%
31 days to 90 days	3.50%	4.00%
91 days to 99 days	4.50%	5.00%
100 days	5.50%	6.00%
101 days to 180 days	4.50%	5.00%
181 days to 221 days	5.00%	5.50%
222 days	6.55%	7.05%
223 days to less than 1 year	5.00%	5.50%
1 year	6.70%	7.20%
Above 1 year to 1 year 6 days	6.50%	7.00%
1 year 7 days	7.40%	7.90%
1 year 8 days to less than 30 months	6.50%	7.00%
30 months	7.00%	7.50%
Above 30 months to less than 5 years	6.70%	7.20%
5 years to less than 66 months	6.00%	6.50%
66 months (Green deposit)	6.50%	7.00%
Above 66 months to upto and including 10 years	6.00%	6.50%
Tax Gain ( 5 Years )	6.00%	6.50%

 

* Special rates for Senior Citizens, applicable only to Residents individually or jointly with another resident citizen. Penalty is applicable for premature withdrawal and reinvestment of Retail Rupee Term 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 up to 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 , premature closure penalty is applicable for premature withdrawal and reinvestment of Retail Rupee Term Deposits (including NRE & Recurring Deposits) at the rate of 0.50% (for all tenors) for deposit amounts below Rs. 5 lakhs and 1% (for all tenors) for deposit amounts of Rs. 5 lakhs and above. The new change in penalty is applicable for all term deposits opened /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.