Revision in Interest Rates on Domestic/NRO/NRE Retail Term Deposits
w.e.f. 09.11.2020
Domestic Term Deposits and NRO Deposits:
Period of Deposit
Existing Rates
For deposits below Rs. 2 Crore
W.E.F 08.09.2020 (in %)
Revised Rates
W.E.F 09.11.2020 (in %)
7-14 days *
3.40
15-29 days
30-45 days
46-60 days
3.90
61-90 days
91-120 days
4.40
121-179 days
180-269 days
4.90
270 days to < 1 year
1 year to < 2 years
(except 444 days)
5.20
5.15
444 days
5.25
2 yrs to < 3 yrs
3 yrs and above
* Minimum amount Rs 1.00 Lakh
The revised Interest Rates on NRE term deposit rates (W.E.F 09.11.2020) are mentioned below.
For deposits below Rs 2 Crore
W.E.F 08.09.2020 (in%)
W.E.F 09.11.2020 (in%)
For Deposits of Rs. 2 Crore and above
For deposits of Rs. 2 Crore and above, Branch has to take prior permission and rate of interest from Treasury Department, Central Office.
Fore Closure Charges
Description
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. 1 Crore
1.00%
Bulk Deposits of Rs. 1 Crore & above