| Saving Product | Interest Type | Payable Frequency |
|---|---|---|
| Saving Bank Account | Compounded | Quarterly |
| Fixed Deposit | Simple | Monthly/Quarterly/Half Yearly/On Maturity |
| Term Deposit | Compounded | Monthly/Quarterly/Half Yearly/On Maturity |
| Recurring Deposit | Compounded | Monthly |
In case of Fixed Deposit Schemes, the customer has the option to withdraw the Interest Amount as per the agreed frequency. In case of Term Deposit & Recurring Deposit Schemes the Total Matured Amount will be payable on maturity only with a option to discontinue the Deposit subject to penal clauses.
Interest Rates on Deposits w.e.f. 18.10.2020
| Deposit Scheme | Public(%) | Societies(%) | Sr.Citizen(%) |
|---|---|---|---|
| Saving Bank Account | 3.00 | 3.00 | 3.00 |
| Term/Fixed Deposits | |||
| 7 days to 14 days | 3.00 | 3.00 | 3.00 |
| 15 days to 45 days | 3.00 | 3.00 | 3.00 |
| 46 days to 90 days | 4.00 | 4.00 | 4.00 |
| 91 days to 364 days | 4.40 | 4.40 | 4.40 |
| 1 year to less than 2 years(365 days to 729 days) | 5.20 | 5.45 | 5.70 |
| 2 year to less than 3 years(730 days to 1094 days) | 5.20 | 5.45 | 5.70 |
| 3 year to less than 5 years(1095 days to 1824 days) | 5.25 | 5.75 | 5.75 |
| 5 year to less than 10 years(1825 days to 3650 days) | 5.25 | 5.75 | 5.75 |
| Recurring Deposit | |||
| 1 year to less than 2 years | 5.20 | 5.45 | 5.70 |
| 2 year to less than 3 years | 5.20 | 5.45 | 5.70 |
| 3 year to less than 5 years | 5.25 | 5.75 | 5.75 |
| 5 year to less than 10 years | 5.25 | 5.75 | 5.75 |
