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      Interest Rates / Domestic Schemes

      Domestic Schemes

      DOMESTIC DEPOSITS

      Rate(s) of interest on Domestic Term Deposits, stands revised with effect from 02.05.2016

      Domestic Term Deposit rates for less than Rs. 1 Crore

      Sr. No. Time Period Revised Rate w.e.f 02.05.2016
      01. 7 - 14 Days 4.50%
      02. 15 - 29 Days 5.00%
      03. 30 - 45 Days 5.50%
      04. 46 - 60 Days 6.00%
      05. 61 - 90 Days 6.50%
      06. 91 - 120 Days 6.75%
      07. 121 - 150 Days 6.75%
      08 151-180 Days 6.75%
      09. 181 to 364 days 7.25%
      10. 1 year 7.50%
      11. More than 1 year upto 2 Years 7.50%
      12. Above 2 Years upto 3 Years 7.50%
      13. Above 3 Years and less than 5 Years 7.25%
      14. 5 years and above 7.25%

      Revision in rate of interest in Bulk Term Deposits of Rs. 1.00 crore and above upto & including Rs. 5.00 crores - rates effective from - 27.04.2016

      a) Term Deposits Of Rs. 1.00 Crore and above - upto & including Rs. 5.00 Crore

      T&I: MUM :TDR:005:2016-17

      Sr. No. Deposit period Single Term Deposit Rs. 1 Cr and above
      upto & including Rs. 5.00 Crore
      1 7 - 14 Days 5.00
      2 15 - 29 Days 5.50
      3 30-45 Days 5.75
      4 46-60 Days 6.50
      5 61 – 90 Days 6.75
      6 91 - 120 Days 6.85
      7 121 - 150 Days 6.85
      8 151 - 180 Days 6.90
      9 181 - 364 Days 7.05
      10 1 year 7.15
      11 above 1 year but upto 2 years 6.90
      12 above 2 year but upto 3 years 6.90
      13 above 3 year but less than 5 years 6.90
      14 5 Years & above 6.90

       

      b) Bulk Term Deposits above Rs. 5.00 Crores - rates effective from - 27.04.2016

      T&I: MUM :TDR:006:2016-17

      Sr. No. Deposit period Single Term Deposit above
      Rs. 5 Cr and less than Rs. 25.00 Cr
      Term Deposit
      Rs. 25 Cr and above
      1 7 - 14 Days 5.25 5.25
      2 15 - 30 Days 5.30 5.30
      3 31-45 Days 5.75 5.75
      4 46 – 90 Days 6.75 6.75
      5 91 - 120 Days 6.85 6.85
      6 121 - 180 Days 7.00 7.00
      7 181 - 270 Days 7.00 7.00
      8 271 days - < 1 year 7.05 7.05
      9 1 year - < 2 years 7.15 7.15
      10 2 Years but < 3 Years 6.90 6.90
      11 3 Years but < 5 Years 6.90 6.90
      12 5 Years & above 6.90 6.90
      • All Zonal Offices are requested to note the above mentioned interest rates for Term Deposits of above Rs. 5.00 Crore are effective from 19.10.2015
      • The above card rates are valid for single deposits (Fresh & Renewal).
      • No cash deposits to be accepted.
      • Term Deposit mobilized with the above rates should be advised to Integrated Treasury Branch, Mumbai on the same day by Zonal Offices/Branches.
      • Rate of Term Deposit should be quoted valid for one day only. Whenever quote is to be given for more than one day, prior permission should be obtained from Assistant General Manager, Treasury Branch, Mumbai or Deputy General Manager, T & IW, HO, Kolkata.
      • For premature closure penal charges shall be 2.00% less than applicable rate for which the term deposit of more than 5.00 Crore was held by the branch as on the date of deposit or the present rate as on the date of premature closure whichever is lower.
      • Under no circumstances branches are allowed to quote beyond the rates mentioned supra. Zonal offices and FGM offices are requested to ensure strict compliance.
      • The rates mentioned above supersede all the rates of interest on “Mid and Large Corporate deposits” circulated earlier vide our letter No. T&I:MUM:TDR:024:2015-17 dt: 20.08.2015.
      • Branches are advised to quote the rates judiciously. Deposits mobilization below the card rate should be favored.
      • For quoting rate of interest of any deposit above Rs. 5.00 Crore, Branches should make prior reference to Treasury Branch.

      SAVINGS BANK DEPOSIT

      Interest Rate payable on Savings Bank Deposit Accounts is @4.00% per annum with effect from 03.05.2011

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