INTEREST RATES

 

A) INTEREST RATES ON RUPEE DEPOSITS 
 

DOMESTIC SAVINGS INTEREST - w.e.f. 01/03/2005  

DOMESTIC SAVINGS INTEREST  3.5%p.a 

a) INTEREST RATES ON DOMESTIC TERM DEPOSITS, CAPITAL GAIN ACCOUNTS SCHEME - 1988, RECURRING DEPOSIT SCHEME AND PSB FIXED DEPOSIT TAX SAVER SCHEME - w.e.f. 26/06/2008
Interest Rate in % for General Public

Maturity

Less than Rs 15Lac

Rs 15 Lac to < Rs 1 Crore

Rs 1 Crore to upto

Rs 10 Crore

Above

Rs 10 Crore

7 - 14 Days

5.50 *

5.75

6.00

7.50

15 - 30 Days

6.00

6.25

6.50

7.75

31 - 45 Days

6.50

7.00

7.50

8.00

46 - 90 Days

7.50

7.75

8.00

8.25

91 - 180 Days

8.00

8.25

8.50

8.75

181 Days < 271 Days

8.50

8.75

9.00

9.25

271 Days < 1 Year

9.00

9.15

9.25

9.50

1 Year < 18 Months

9.25

9.25

9.30

9.50

18 Months < 2 Years

9.25

9.25

9.30

9.50

2 Years < 3 Years

9.30

9.30

9.35

9.50

3 Years & Above

9.35

9.35

9.35

9.50

* For this maturity period the minimum term deposit shall be for Rs.One lac & above but less than Rs.15 lac.


NOTE:

(i)"The Senior Citizen shall be given an additional rate of 0.50% on any amount over and above the mentioned rates for deposits with maturity period 91 days & above for fresh and renewed deposits".

(ii)Interest Rate for deposits under "PSB FIXED DEPOSIT TAX SAVER SCHEME" for the period '5 years and above' shall carry interest @ 8.50%p.a in terms of HO P & D Deptt. Circular No.2297 dated 03.02.2007 and the Senior Citizen shall be allowed additional interest @ 0.50% over the interest rate of 8.50%. However, additional benefit of 1% interest over & above normal rate to staff / ex-staff members shall not be permissible under this scheme.

(iii).The revised rates shall apply only to fresh deposits and on renewal of existing deposits on maturity. These rates are subject to revision from time to time.

(iv). Other terms and conditions of HO. RMD Circular No.59 dated 06/06/2007 remains unchanged.

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