Deposit Interest Rates
As per decided in the Board of Directors Meeting held on 24/09/2026 to change in Interest Rates on Deposits of New Deposit receipt and Renewal Deposit Receipt with effect from 01/10/2026 as under:-
Rates
| Sr. No | Term Deposit | Effective from 01/10/2026 | ||
|---|---|---|---|---|
| A. | Regular | Sr. Citizens | Bulk Deposit Rs. 15.00 Lakh & Above (Non-Cumulative) | |
| 1. | 7 Days to 30 Days | 3.50% | 3.50% | 3.50% |
| 2. | 31 Days to 45 Days | 3.75% | 3.75% | 3.75% |
| 3. | 46 Days to 90 Days | 4.25% | 4.25% | 4.25% |
| 4. | 91 Days to 180 Days | 5.00% | 5.00% | 5.00% |
| 5. | 181 Days to 1 Year | 5.50% | 5.50% | 5.50% |
| 6. | 13 Months to 24 Months | 6.80% | 7.30% | 7.00% |
| 7. | 25 Months to 36 Months | 6.70% | 7.20% | 6.90% |
| 8. | 37 Months to 60 Months | 6.60% | 7.10% | 6.80% |
| 9 | 555 Days (Non-Callable – Non-Cumulative) Simple Interest paid on Quarterly (Min Amt. 10.00 lacs & above). | 6.95% | 7.05% | —– |
| 10 | 15 Months Single Deposit – Rs. 1.00 Cr & Above (Non-Cumulative) |
7.35% |
7.35% |
___ |
| B. | Recurring Deposit | |||
| 1. | 1 Year to 2 Years | 6.80% | —- | —– |
| 2. | 2 Years to 3 Years | 6.70% | —- | —– |
| 3. | 3 Years and Above | 6.60% | —- | —– |
| C. | Savings Deposit | 3.25% | ||
IMPORTANT TERMS AND CONDITIONS - TERM DEPOSITS
- Premature Withdrawal of Term Deposit
- The Bank shall, on request from the depositor, permit premature withdrawal of a callable Term Deposit before the contracted maturity date, wherever premature withdrawal facility is applicable under the Bank’s Deposit Policy and RBI directions. Deposits specifically accepted as non-callable shall be governed by the terms applicable to such deposits and the regulatory conditions prescribed from time to time.
- No interest shall be payable where premature withdrawal takes place before completion of seven days from the date of deposit, being the minimum tenor prescribed for domestic rupee term deposits.
- Where premature withdrawal takes place after completion of seven days, interest shall be paid only for the actual period for which the deposit remained with the Bank. The applicable rate shall be the rate prevailing on the original date of placement of the deposit for the amount and completed tenor for which the deposit actually remained with the Bank, and not the originally contracted rate.
- A penal interest of 1.00% per annum shall be deducted from the rate otherwise applicable under Clause 1.3 for premature withdrawal, in accordance with the Bank’s Board-approved Deposit Policy. The premature withdrawal penalty and its components shall be disclosed to the depositor at the time of acceptance/renewal of the deposit.
- If the rate determined after applying the premature withdrawal penalty is zero or negative, no interest shall be payable.
- Premature Closure for Renewal / Reinvestment
- Where a depositor requests premature closure of an existing Term Deposit specifically for renewal/reinvestment with the Bank, the deposit may be renewed at the applicable rate prevailing on the date of renewal, subject to the renewed deposit being placed for a period longer than the remaining period of the original deposit and subject to the Bank’s prevailing Deposit Policy.
- Interest on the deposit prematurely closed for renewal shall be calculated for the actual period for which the deposit remained with the Bank, at the rate applicable on the original date of deposit for the corresponding amount and completed tenor, and not at the originally contracted rate.
- Additional Interest for Senior Citizens
- Resident individual Senior Citizens aged 60 years and above shall be eligible for an additional interest rate of 0.50% per annum over the applicable card rate on eligible domestic Term Deposits,
- As per the Bank’s policy, the additional Senior Citizen benefit shall be available only on Term Deposits having an original maturity period of one year and above. Accordingly, no additional Senior Citizen interest shall be payable on deposits having an original maturity of less than one year.
- The Senior Citizen additional interest benefit shall not be available to deposits standing in the name of an HUF merely because the Karta is a Senior Citizen, or to Trust / Hosing Society /NRE/NRO deposits where such additional benefit is prohibited.
- Tax Deduction at Source (TDS) / Statutory Deductions
- Tax shall be deducted at source from interest on deposits wherever required under the Income-tax Act, 1961, the Income-tax Rules and other applicable statutory provisions, at the rates and subject to the thresholds/exemptions prescribed from time to time.
- The depositor shall be responsible for providing a valid PAN and such declarations, forms or other documents as may be prescribed for non-deduction or lower deduction of tax, wherever legally permissible.
- Interest credited/paid and the net maturity proceeds payable to the depositor shall be subject to applicable TDS and other statutory deductions. Any amount shown on a deposit receipt as maturity value shall therefore be subject to such statutory deductions, wherever applicable.
- General Conditions
- The rates of interest, additional interest concessions, premature withdrawal conditions and penalties shall be governed by the Bank’s prevailing Board-approved Deposit Policy and the interest-rate circular in force on the relevant date.
- The Bank shall ensure that the applicable rate of interest and premature withdrawal penalty are transparent and disclosed to depositors in advance in accordance with RBI directions.
- In case of any inconsistency between these terms and any statutory or regulatory requirement, the applicable law / RBI direction as amended from time to time shall prevail.