Revision of Rate of Interest on Term Deposits (Below Rs.2 crore) effective from 24.05.2024
Interest rates are per annum
Maturity Period | Revised rates w.e.f. 24.05.2024 | |
For Public | For Senior Citizen | |
7 days to 45 days |
3.50% |
4.00% |
46 days to 179 days | 5.50% | 6.00% |
180 days to 210 days | 6.00% | 6.50% |
211 days to less than 1 year | 6.25% | 6.75% |
1 year to less than 2 years |
6.80% |
7.30% |
2 years to less than 3 years |
7.00% |
7.50% |
Special Deposit for 400 days (Applicable for deposit placed up to 30.09.2024) |
7.10% |
7.60% |
Non-Callable where Pre-mature payment not allowed (Above Rs.1 crore & Less than Rs.2 Crore) | ||
For one year in above category | 7.10%
| 7.60% |
For two years in above category | 7.40%
| 7.90% |
Above rates will be applicable for Recurring Deposits Schemes also as per maturity period.
Cumulative Interest Scheme (Reinvestment plan) is continued. Interest is compounded quarterly.
Officer (Special Duty)