Interest Rates

 

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Interest Rates

Effective 5th May 2011, the interest rate on Savings account has been changed to 4% from 3.5%.

 

Deposit Account

 Nature

Rate of Interest*   

       Minimum Balance

 

 Normal

Senior Citizen

Metro 

Urban 

Semi Urban

Rural

 Account            
 1. Savings Account            
 A. Domestic

4.00% 

4.00%

       
 a. With cheque book facility    

10,000

10,000

10,000

10,000

 b. Without cheque book facility    

 Not available

Not available 

Not available 

 Not available

 c. No Frills Account    

250

250 

250 

250 

 B. Non Resident (Savings account)            
a. NRO

4.00%

4.00%

10000

10000

10000

10000

a. NRE

4.00%

4.00%

# Interest Rate revised from 3.50% p.a to 4.00% p.a   w.e.f. May, 2011
* We have other Savings account variants where the minimum balance requirements are different

Domestic & NRO Rates
  Rates w.e.f. 
2nd May 2013
From Less than 1 Crore
  Card Rates Senior Citizen Rates
7 days 6.25 6.25
8 days & up to 14 days 6.25 6.25
15 days & up to 29 days 6.50 6.50
30 days & up to 45 days 7.00 7.00
46 days & up to 60 days 7.00 7.00
61 days & up to 90 days 7.00 7.00
91 days & up to 180 days 7.00 7.00
181 days & up to 269 days 7.50 7.50
270 days 9.00 9.00
271 days to less than 1 year 7.50 7.50
1 year & less than 15 months 7.75 7.75
15 months 7.75 7.75
15 months 1 day to less than 2 years 7.75 7.75
2 year & less than 3 years 7.90 7.90
3 years & less than  4 years 8.00 8.00
4 years & less than 5 years 8.10 8.10
5 years and above 8.30 8.30

For interest rates on FDs of INR 1 Crore and above,
please contact your Relationship Manager or nearest branch.

 

NRE fixed deposit Card Rate wef 1st April 2013
Period Less than 1 Crore
1 year & less than 15 months 7.75
15 months 7.75
15 months 1 day to less than 2 years 7.75
2 years & less than 3 years 7.90
3 years & less than 4 years 8.00
4 years & less than 5 years 8.00
5 years 8.00

 

FCNR Deposits (Interest Rate w.e.f 2nd May 2013)
Currency USD
Tenor Interest Rate
1 year to upto 2 years 1.00
2 years to upto 3 years 0.86
3 years to upto 4 years 0.95
4 years to upto 5 years 1.10
5 years 1.32
Currency GBP
Tenor Interest Rate
1 year to upto 2 years 1.00
2 years to upto 3 years 1.09
3 years to upto 4 years 1.15
4 years to upto 5 years 1.25
5 years 1.40
Currency EUR
Tenor Interest Rate
1 year to upto 2 years 0.60
2 years to upto 3 years 0.89
3 years to upto 4 years 0.98
4 years to upto 5 years 1.10
5 years 1.25
Currency JPY
Tenor Interest Rate
1 year to upto 2 years 0.94
2 years to upto 3 years 0.77
3 years to upto 4 years 0.80
4 years to upto 5 years 0.85
5 years 0.90
Currency CAD
Tenor Interest Rate
1 year to upto 2 years 2.26
2 years to upto 3years 1.79
3 years to upto 4 years 1.86
4 years to upto 5 years 1.97
5 years 2.09
Currency AUD
Tenor Interest Rate
1 year to upto 2 years 3.65
2 years to upto 3years 3.28
3 years to upto 4 years 3.42
4 years to upto 5 years 3.62
5 years 3.76
Currency CHF
Tenor Interest Rate
1 year to upto 2 years 0.30
2 years to upto 3years 0.61
3 years to upto 4 years 0.67
4 years to upto 5 years 0.78
5 years 0.89
Currency SGD
Tenor Interest Rate
1 year to upto 2 years 0.90
2 years to upto 3years 0.92
3 years to upto 4 years 1.05
4 years to upto 5 years 1.13
5 years 1.29
Currency HKD
Tenor Interest Rate
1 year to upto 2 years 0.90
2 years to upto 3years 0.96
3 years to upto 4 years 1.03
4 years to upto 5 years 1.15
5 years 1.32

NRE and Resident Savings account (Interest Rate w.e.f. 2nd May 2013 )
Tenor Interest Rate
- 4.0%

Simple Interest rate will be paid on fixed deposits below 6 months. For fixed deposits of 6 months or above, interest will be compounded quarterly.

The Bank shall, on written request from all depositors, allow withdrawal of a Resident / NRO Term deposits and NRE / FCNR Deposits prior to the date of its maturity. The interest on prematurely withdrawn Resident/NRO Term Deposits and NRE / FCNR deposits will be paid for the period that such deposit is held, at the rate prevailing on the date of placement of such deposit or the contracted rate, whichever is lower, subject to a deduction of a 1% penalty. This penalty is applicable for deposits of INR 15 lakhs and above only.

However, no interest will be paid in case of NRE/FCNR Deposits prematurely withdrawn before the expiry of 1 (one) year from the date of deposit or its renewal.
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