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. 16.11.2022
Deposit Scheme | Public(%) | Societies(%) | Sr.Citizen(%) |
---|---|---|---|
Saving Bank Account | 2.80 | 2.80 | 2.80 |
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 | 5.50 | 5.50 | 5.50 |
1 year to less than 2 years(365 days to 729 days) | 6.30 | 7.05 | 6.75 |
2 year to less than 3 years(730 days to 1094 days) | 6.30 | 7.05 | 6.75 |
3 year to less than 5 years(1095 days to 1824 days) | 6.10 | 6.85 | 6.60 |
5 year to less than 10 years(1825 days to 3650 days) | 6.10 | 6.85 | 6.60 |
Recurring Deposit | |||
1 year to less than 2 years | 6.30 | 7.05 | 6.75 |
2 year to less than 3 years | 6.30 | 7.05 | 6.75 |
3 year to less than 5 years | 6.10 | 6.85 | 6.60 |
5 year to less than 10 years | 6.10 | 6.85 | 6.60 |