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Rupee Term Deposit Rate

 
Bank has revised rate of Interest on Domestic / NRO Term Deposits as follows:-
  1. For deposits less than Rs.1 Crore

    Maturity For deposits less than Rs.1 Cr
    Rate w.e.f. 28.08.15
    07 days to 14 days*
    4.00
    15 days to 30 days
    4.50
    31 days to 45 days
    4.50
    46 days to 90 days
    6.50
    91 days to 179 days
    7.00
    180 days to 269 days
    7.50
    270 days to to Less than 1 Year
    8.00
    1 Year & above but less than 3 Years
    8.00
    3 Years & above  to less than 5 years
    8.00
    5 years & above to 10 Years
    7.75
    * Minimum Deposit Rs.1 Lac  


  2. For deposits of Rs.1 Cr & above but less than Rs.10 Cr
  3. For deposits of Rs. 10 Cr & above but less than Rs.100 Cr.
  4. For deposits of Rs. 100 Cr. & above.


    Maturity For deposits of Rs.1 Cr & above but less than Rs.10 Cr
    w.e.f. 28.08.2015

    07 to days14 days

    4.25

    15 days to 30 days

    4.50

    31 days to 45 days

    4.50

    46 days to 90 days

    6.50

    91 days to 179 days

    7.00

    180 days to 269 days

    7.50

    270 days to less than 1 Year

    7.50

    1 Year & above but less than 3 Years

    7.75
    3 Years & above to less than 5 years
    7.50
    5 years & above to 10 Years
    7.50

  5. Interest rates on Domestic Rupee Term Deposits for amount of Rs 10 Crore & above
                Maturity For deposits of Rs 10 cr and above but less than Rs 100 Cr For deposits of Rs 100 cr and above but less than Rs 400 Cr For deposits of Rs 400 cr and above
      Interest rates w.e.f (22.07.2015) Interest rates w.e.f (22.07.2015) Interest rates w.e.f (22.07.2015)
    07 days to 14 days 4.50% 4.50% 4.50%
    15 days to 30 days 4.50% 4.50% 4.50%
    31 days to 45 days 4.50% 4.50% 4.50%
    46 days to 90 days 6.50% 6.50% 6.50%
    91 days to 179 days 7.00% 7.00% 7.00%
    180 days to 269 days 7.25% 7.25% 7.25%
    270 days to 363 days 7.50% 7.50% 7.50%
    364 days to 13 months 7.60% 7.60% 7.60%
    Above 13 months to less than 2 years 7.50% 7.50% 7.50%
    2 year to less than 3 years 7.50% 7.50% 7.50%
    3 year to less than 5 years 7.25% 7.25% 7.25%
    5 years to less than 8 years 7.00% 7.00% 7.00%
    8 years to 10 years 7.00% 7.00% 7.00%

     

 
 

For deposits of Rs.10 crore and above,Please contact the branch.
“Branches shall seek prior approval from Bank of India, Treasury Branch for quoting rates for deposit of Rs.10 crore and above even at card rate".

Rate for Senior Citizen Deposits :

  • The period of deposit should be for 6 months & above , for availing benefit of additional rate applicable to Senior Citizens / Staff/Ex-Staff Senior Citizen.
  • The Senior Citizen / Senior Citizen Staff/Ex-staff should be the first account holder and his/her age should be more than 60 Years at the time of placing the deposit.
  • 0.50% p.a. additional rate of interest over and above card rates (for General Public) on their deposits below Rs.1 Crore.
  • 1.50% p.a. additional rate of interest over and above card rates (for Staff/Ex-Staff Senior Citizens, Spouse in case of deceased Staff/Ex-Staff) on their deposits below Rs.1 Crore (i.e.1% Staff Rate + 0.50% Senior Citizen Rate of Interest).

Additional Rate of Interest applicability on various Rupee Term Deposits


Type of Accounts Additional Staff Rate applicable to Staff/Ex-Staff Additional Senior Citizen Rate applicable to Senior Citizen/Ex-Staff Senior Citizen
HUF Not Applicable Not Applicable
Capital Gain Scheme Not Applicable Not Applicable
NRE/NRO Deposits Not Applicable Not Applicable

In case of premature withdrawal, “the applicable rate of interest on the date of acceptance of deposit for the actual period which the deposit has remained with the bank or contracted rate of interest whichever is LOWER shall be applicable.”*(Please refer Penalty Details under Retail → Deposits → Term → Penalty Details).

No interest will be paid for premature withdrawal below 7 days in case of Term Deposits,below 3 months in case of Recurring Deposits and below 12 months in case of NRE Deposits.

TDS applicable on Term deposits( as per amendments in Finance Act 2015)-

TDS will be deducted on the interest earned on the total amount of deposits held by a customer in the Bank as a whole, and not on individual deposits held by him branch-wise including Recurring Deposits

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