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The ALCO, having regard to the general market conditions and the prevailing interest rates has decided to revise interest rates on Domestic Rupee Term Deposits w.e.f. Tuesday, 07.09.2010 for: -
“New Specific Number of Days Maturity, Domestic Term Deposits have been introduced for the all categories of Deposits”.
DOMESTIC RUPEE TERM DEPOSITS
(% p.a)
Maturity |
For deposits less than Rs.15 lacs. |
For deposits of Rs.15 lacs and above but less than Rs.1 Crore |
For deposits of Rs.1crore & above |
(Existing)
w.e.f.
12.8.10 |
(Revised)
w.e.f.
07.09.10 |
(Existing)
w.e.f.
12-08-10 |
(Revised)
w.e.f
07.09.10 |
(Existing)
w.e.f.
12-08-10 |
(Revised) w.e.f.
07.09.10 |
07 days to 14 days * |
2.50 |
2.50 |
2.50 |
2.50 |
2.50 |
2.50 |
15 days to 30 days |
2.75 |
2.75 |
2.75 |
2.75 |
2.75 |
2.75 |
31 days to 45 days |
3.00 |
3.00 |
3.00 |
3.00 |
3.00 |
3.00 |
46 days to 90 days |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
91 days to 179 days |
5.50 |
5.50 |
5.50 |
5.50 |
5.50 |
5.50 |
180 days to 269 days |
6.00 |
6.00 |
6.00 |
6.00 |
6.00 |
6.00 |
270 days to 364 days |
6.00 |
6.00 |
6.00 |
6.00 |
6.00 |
6.00 |
1 Year to less than 2 Yrs except for 555 days |
7.00 |
7.00 |
7.00 |
7.00 |
7.00 |
7.00 |
555 Days Fixed |
--------- |
7.25 |
------- |
7.25 |
--------- |
7.25 |
2 Yrs to less than 3 Yrs except for 777 days and for 999 days |
7.25 |
7.25 |
7.25 |
7.25 |
7.25 |
7.25 |
777 Days Fixed |
--------- |
7.50 |
--------- |
7.50 |
--------- |
7.50 |
999 Days Fixed |
--------- |
7.60 |
--------- |
7.60 |
--------- |
7.60 |
3 Years to 5 years except for 1111 days |
7.25 |
7.25 |
7.25 |
7.25 |
7.25 |
7.25 |
1111 Days Fixed |
--------- |
7.75 |
--------- |
7.75 |
--------- |
7.75 |
Above 5 years to less than 8 years |
7.00 |
7.00 |
7.00 |
7.00 |
7.00 |
7.00 |
8 years and above |
7.00 |
7.00 |
7.00 |
7.00 |
7.00 |
7.00 |
* Minimum Deposit Rs.1 lakh.
Effective Annualised Rate of Return (Indicative only)
Maturity |
For deposits less than Rs.15 lacs |
For deposits of Rs.15 lacs & above but less than Rs.1 Cr. |
For deposits of Rs.1 crore & above |
Rate of Interest
(%) p.a. |
Annualised Rate of Return at minimum of the maturity bucket % |
Rate of Interest
(%) p. a. |
Annualised Rate of Return at minimum of the maturity bucket % |
Rate of Interest
(%) p. a. |
Annualised Rate of Return at minimum of the maturity bucket % |
180 days to 269 days |
6.00 |
6.04 |
6.00 |
6.04 |
6.00 |
6.04 |
270 days to 364 days |
6.00 |
6.09 |
6.00 |
6.09 |
6.00 |
6.09 |
1 year to less than 2 years except for 555 days |
7.00 |
7.18 |
7.00 |
7.18 |
7.00 |
7.18 |
555 Days Fixed |
7.25 |
7.59 |
7.25 |
7.59 |
7.25 |
7.59 |
2 years to less than 3 years except for 777 days and for 999 days |
7.25 |
7.72 |
7.25 |
7.72 |
7.25 |
7.72 |
777 Days Fixed |
7.50 |
8.05 |
7.50 |
8.05 |
7.50 |
8.05 |
999 Days Fixed |
7.60 |
8.36 |
7.60 |
8.36 |
7.60 |
8.36 |
3 years to 5 years except for 1111 days |
7.25 |
8.01 |
7.25 |
8.01 |
7.25 |
8.01 |
1111 Days Fixed |
7.75 |
8.64 |
7.75 |
8.64 |
7.75 |
8.64 |
Above 5 years to less than 8 years |
7.00 |
8.29 |
7.00 |
8.29 |
7.00 |
8.29 |
8 years and above |
7.00 |
9.27 |
7.00 |
9.27 |
7.00 |
9.27 |
SENIOR CITIZENS: Senior Citizens (public other than staff) will get 0.5% p.a. interest more than the card rates on their deposits of six months and above maturity on all term deposits of Rs. 5,000/- and above uniformally till further notice. Senior Citizens Ex-Staff members will get 1.5% p.a. additional interest (0.5% for senior citizens+1% p.a. applicable to staff members) on their deposits for periods of 6 months and above on fresh/renewal of deposits upto amount of Rs.15 lacs only - Branch Circular No. 102/27 dated 07.05.2008.
Floating Rate Deposit Scheme has been discontinued w.e.f 01.09.2009. However the existing deposits under the scheme will continue to earn 0.25% over the term deposit rates applicable for the relevant existing tenures of deposits, for maturities of three years and above (i.e. our anchor rate), on the day the deposit was made. The rate is to be reset at the beginning of each calendar quarter in case there is a change in the anchor rate. No New deposit to be accepted nor the existing deposits to be renewed on/ after maturity.
PREMATURE WITHDRAWAL : In order to give boost to deposit mobilisation efforts, the penalty on Premature Withdrawal of all Domestic Rupee Term Deposits have been waived w.e.f. 01.12.2008 irrespective of date of deposit and amount.(earlier the deposit amount was Rs. 25 lacs and above w.e.f. 01.04.2005 vide branch circular no. 98/258 dated 31.03.2005).
The premature withdrawal facility for all customers/deposits of large deposits of Rs.1 crore & above is not available except for individuals and HUF on these new introduced specific number of days maturity deposits viz. 555 days, 777 days, 999 days & 1111 days. Please mention this prominently on the Deposit Receipt and also inform the depositors. Normal Card Rate would be applicable for deposits where deposits placed under fixed days deposits are withdrawn before maturity. |