Last Updated on 09/11/2022
Domestic Rates

Period of Deposit Existing Rates
For Deposits below Rs. 2 Crore
W.E.F 10.10.2022 (in %)
Revised Rates
For deposits below Rs. 2 Crore
W.E.F 10.11.2022 (in %)

7-14 Days*

3.60

3.60

15-29 Days

3.60

3.60

30-45 Days

3.60

3.60

46-60 Days

3.75

3.85

61-90 Days

3.75

3.85

91-120 Days

4.10

4.20

121-179 Days

4.10

4.20

180-269 Days

4.65

4.85

270 Days to < 1 Year

4.65

5.25

1 Year to < 2 Years

(Except 444 Days)

5.70

6.30

444 Days

5.85

6.40

2 Years to < 3 Years

(Except 1000 Days)

5.70

6.30

1000 Days

6.00

Since Discontinued

3 Years and Above

5.85

6.40


* Minimum Amount Rs. 1.00 Lakh

  • Interest rate for IOB Tax Saver Deposit shall be at 6.40%.
  • For Senior Citizens Additional Rate of 0.50% and for Super Senior Citizens (aged 80 years and above) Additional Rate of 0.75% continues.
  • For retired Staff, applicable interest rate will continue to be governed by the decision taken by ALCO in its meeting No-04/2019-20 held on 08.07.2019.

The Revised Interest Rates on NRE Term Deposits w.e.f 10.11.2022 are as follows:


Period of Deposit Existing Rates
For Deposits below Rs. 2 Crore
TILL 01.11.2022 (in %)
Revised Rates
For Deposits below Rs. 2 Crore
W.E.F 10.11.2022 (in %)

1 Year to < 2 Years

(Except 444 Days)

5.70

6.30

444 Days

5.85

6.40

2 Years to < 3 Years

5.70

6.30

3 Years and Above

5.85

6.40


  • The Above Increase in NRE Term Deposit Rate is Applicable only for Fresh Term Deposits Mobilized till 31.10.2022, after which the Interest Rate on Fresh NRE Term Deposits will be Aligned with Domestic Retail Term Deposits.
  • The Revised Interest Rates on NRE Term Deposits w.e.f 01.11.2022 are as Follows:

For Deposits of Rs. 2 Crore & Above

For Deposits of Rs. 2 Crore & Above, Branch has to take Prior Permission for Rate of Interest from Treasury Department, Central Office.

Fore Closure Charges

Description Fore Closure Charges

Retail Term Deposits upto Rs. 15000/-

NIL

Retail Term Deposits of Rs. 15,001/- up to Rs. 5 Lakh

0.50%

Retail Term Deposits Above Rs. 5 Lakh but Below Rs. 2 Crore

1.00%

Bulk Deposits of Rs. 2 Crore & above

1.00%