TERM DEPOSIT SCHEMES
FIXED DEPOSIT
- Simple interest is calculated on fixed deposit.
- Depositors have the option to receive quarterly interest.
- Minimum Period – 15 days & maximum period – 10 years.
RE-INVESTMENT DEPOSIT
- Compound interest is calculated on quarterly basis.
- Minimum Period – 12 months & maximum period – 10 years.
RECURRING DEPOSIT
- Compound interest is calculated on quarterly basis.
- Minimum Period – 12 months & maximum period – 10 years.
FEATURES
- Auto renewal of fixed & re- investment deposits.
DEPOSIT RATES W.E.F. 01.01.2023
PERIOD OF DEPOSITS |
RATE OF INTEREST |
|---|---|
| 15 days to 45 days | 3.50% |
| 46 days to 90 days | 3.60% |
| 91 days to 179 days | 5.00% |
| 180 days to Less then 1 year | 6.00% |
| 1 year to 3 years | 7.00% |
| Above 3 years | 6.75% |
0.25% extra to Senior Citizen on FDR for 1 year & above.
Cumulative FDR will be issued for complete quarter.
Bank permits premature withdrawal of Term Deposits (FDR/PRD) held with the bank at the operative rate (i.e. rate of interest prevailing as on the date of deposit for the period the deposit has actually run) less penalty of 1%
NOTE: Deposit Rates given above are subject to change