Rate Of Interest
It has been decided in the Board meeting held on 25-04-2018 to revise Deposit rate of interest as follow : -
|DEPOSITS||w.e.f. 02-05-2018||w.e.f. 14-05-2018|
|Savings Bank A/c||4.00%||4.00%|
|From 15 days to 45 days||4.00%||4.00%|
|From 46 days to 90 days||5.50%||5.50%|
|From 91 days to 180 days||6.25%||6.25%|
|From 181 days to 1 years||6.50%||6.50%|
|Above 1 years to 3 years||7.25%||7.00%|
|Above 3 years to 5 years||7.25%||7.00%|
|Above 5 years to 10 years||6.75%||6.75%|
Note : -
- 1) 0.50% extra for Minor girls, Senior Citizens, Charitable trust, Educational Institutions, Religious Trust etc.
- 2) No deduction in interest in case of premature payment/renewal of FDR. Interest may be paid as applicable.
- 3) In case of i) Premature payment – Cash if paid will be as per I.T. rules or otherwise amount will be credited in the account. ii) Renewal of overdue FDR - Interest at Savings Bank rate may be paid.
- 4) The revised rates shall apply only to fresh deposits and on renewal of existing deposits. These rates are subject to revision from time to time.
- 5) Please also refer to terms & conditions, of (1) H.O. Cir. No.13 dt. 09-10-2015 regarding rate of interest on term deposit, of & (2) H.O. Cir. No.28 dt. 23.08.2016 regarding payment of Interest on term deposits maturing on holidays, other terms & conditions will remain the same.