Deposit & Interest Rates

Rate of interest on Term Deposit with effect from 01/01/2020

Sl. No.
Type of Deposit
Rate of interest %@p.a.
1. SAVINGS BANK DEPOSIT   (UNCHANGED)
a)
Savings Bank Deposit (General)
4.00%
b)
Millennium S B Deposit
4.00%
c)
Savings Bank Deposit (Govt. / Panchayet)
3.50%
2. TERM DEPOSIT  ( Fixed / Special Fixed / Recurring) Rate Of interest %@p.a.
  Periods Less than Rs.1.00 Crore Rs.1.00 Crore and above
2(a)

Common People

2(b)

SENIOR CITIZEN:

2 (c)

 Rs.1 Cr and above but < Rs.5 Cr

2(d)

Rs.5 Cr and above but < Rs.25 Cr

2(e) Rs.25 Cr and above
i) 7 to 14 days 4.00 4.00 4.00 4.00 4.40
ii) 15 to 29 days 4.00 4.00 4.00 4.15 4.55
iii) 30 to 45 days 4.15 4.15 4.05 4.15 4.60
iv) 46 to 90 days 5.00 5.00 4.90 5.05 5.15
v) 91 to 180 days 5.50 5.50 5.40 5.50 5.65
vi) 181  to 364 days 6.00 6.00 6.00 6.05 6.10
vii) 365 Days / 12 Months / 1 Year 6.50 7.00 6.35 6.40 6.55
viii) Above 12 Months to less than 36 Months 6.50 7.00 4.40 4.65 4.90
ix) 36 Months to 60 Months 6.25 6.75 4.15 4.15 4.15
x) Above 60 Months to 120 Months 5.75 6.25 4.00 4.15 4.40
3 MONTHLY INCOME SCHEME (MIS)FIXED DEPOSIT

Period – Only For  3  years

(Minimum of Rs. 5000/- and in multiple of Rs. 1000/-)

Only for individuals.

3(a)

General

%@p.a.

3(b)

Senior Citizen %@p.a.

6.25 6.90
4 STATUTORY RESERVE FUND, BAD DEBT FUND, RISK FUND, SPL. DEPOSIT (ARDR) & GUARANTEE FUND OF THE CO-OP. SOCIETIES AFFILIATED TO THIS BANK ALONG WITH EMPLOYEES’ SECURITY DEPOSIT, Deposit Guarantee Fund & Credit Guarantee Fund – Interest will be calculated on half yearly basis. 6.65%

OTHER CONDITION

A) The existing employee / existing employee jointly with wife or husband or dependant / Retired Employee / Retired Employee jointly with wife or husband or dependant / spouse of the deceased employees with Nominee and this Bank’s Employees Organisation / Association, would be allowed additional 1% interest over the normal rate of interest on all types of Deposit (Sl. No.1(a), 2(a), 2(b) & 3(a), 3(b) )A declaration in this regard must be obtained that the amount deposited belongs to the concern Staff/Ex-Staff.

B) Deposit mobilising PACS who have followed / complied the order No. B & D / 335 dated 13/03/2015 of the Bank in regard to its deposit mobilisation will be allowed 0.50% additional interest on Term Deposits only in the form of Fixed & Special Fixed Deposits mentioned in Item No. 2(i) to 2(x) (except Recurring Deposit). 

N.B. – 1) In case of MIS, Interest will be paid on monthly basis at discounting rate.

2) In respect of 2(b) & 3(b) for Sr. Citizen (only above the age of sixty years),   age proof documents be obtained from the concerned depositor(s) at the time of deposit. Senior Citizen benefits will be allowed only on Term Deposit (except Recurring Deposit)