INTEREST RATES
A) DOMESTIC SAVINGS INTEREST - - w.e.f. 03.05.2011
| Saving Bank Deposit Rate | 4.0% |
B) INTEREST RATES ON RUPEE DEPOSITS: W.E.F. 24.08.2011
|
Revised (%age p.a.) (w.e.f. 24.08.2011) |
|||
|
Maturity |
Upto Rs 15 Lac |
Above Rs 15 Lac to Rs 1 Crore |
Above Rs.1 Crore to Rs 5 Crore |
|
7 - 14 Days |
4.00# |
4.00 |
4.00 |
|
15 - 30 Days |
4.50 |
4.50 |
4.50 |
|
31 - 45 Days |
5.10 |
5.10 |
5.10 |
|
46 - 90 Days |
7.25 |
7.25 |
8.00 |
|
91 - 150 Days |
8.00 |
8.00 |
8.75 |
|
151-179Days |
8.40 |
8.00 |
9.10 |
|
180 - 269 Days |
9.00 |
9.00 |
9.25 |
|
270 - 364 Days |
9.05 / 9.75* |
9.05 / 9.75* |
9.50 |
|
1 Year - 2 Years |
9.60 /9.75** |
9.60 /9.75** |
9.60 |
|
Above 2 Years - < 3Years |
9.25/9.60*** |
9.25/9.60*** |
9.50 |
|
3 Years - 5Years |
9.50 |
9.50 |
9.50 |
|
>5 Years - 10 Years |
9.25 |
9.25 |
9.50 |
# For this maturity period the minimum term deposit shall be for Rs 1.00 Lac, * This rate is valid for deposit of 300Days
**This rate is valid for deposit of 500Days ***This rate is valid for deposit of 1000Days
The Rate of interest for Term Deposit above Rs. 5.00 Crore shall be advised only to the Zonal Offices; therefore branches should obtain applicable rates of interest for such Term Deposits from their respective Zonal Offices. However for renewal/fresh mobilization of term deposits of Rs 5.00 Crore and above, prior permission be obtained from H.O. Risk Management Department.
Further, Branches are advised to continue intimating H.O. Risk Management Department and H.O. Investment Management Department, through their respective Zonal Offices, the complete details of all term deposits of Rs 1.00 Crore and above (whether contracted fresh/ renewed/reinvested) on the same day.
NOTE:
1. Senior Citizens shall be given an additional benefit of 0.50% on deposits
of less than Rs. One Crore, over and above
the mentioned rates, but ONLY for the maturities of 180 days & above
for fresh as well on renewal of deposits.
2. The rate of interest on PSB FIXED DEPOSIT TAX SAVER SCHEME shall be
@ 9.05% p.a.,
however other terms and conditions of HO. P&D Dept circular
No. 2297 dated 03.02.2007 shall continue. As regard to
allowing benefit of higher interest rate to Senior Citizens under the Scheme,
over and above the card rate, please refer to
Clause (iii) of HO. RMD circular No.63/07 dated 07.09.2007.
3. Branches are advised NOT to accept interbank cash receipt either for
issuing term deposits or in current accounts
till further orders. However, interbank deposits can be received through
cheques in CURRENT ACCOUNT only.
4. The revised rates shall apply only to fresh deposits and on renewal of
existing deposits. These rates are subject
to revision from time to time.
5. Other terms and conditions of HO RMD Circular No.145/10 dated 1/16.07.2010 with regard to pre-mature withdrawal of term deposits shall remain unchanged.
CLICK HERE FOR MORE DETAILS OF PSB FIXED DEPOSIT TAX SAVER SCHEME