Deposits


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. 02.09.2018


Deposit Scheme Public(%) Societies(%) Sr.Citizen(%)
Saving Bank Account 3.50 3.50 3.50
Term/Fixed Deposits
7 days to 14 days 4.75 4.75 4.75
15 days to 45 days 5.25 5.25 5.25
46 days to 90 days 6.25 6.25 6.25
91 days to 364 days 6.75 6.75 6.75
1 year to less than 2 years(365 days to 729 days) 6.75 7.25 7.25
2 year to less than 3 years(730 days to 1094 days) 6.70 7.20 7.20
3 year to less than 5 years(1095 days to 1824 days) 6.25 7.25 6.75
5 year to less than 10 years(1825 days to 3650 days) 6.25 7.25 6.75
Recurring Deposit
1 year to less than 2 years 6.75 7.25 7.25
2 year to less than 3 years 6.70 7.20 7.20
3 year to less than 5 years 6.25 7.25 6.75
5 year to less than 10 years 6.25 7.25 6.75