|S. NO.||SCHEMES||PERIOD||EXISTING RATE OF INTEREST||REVISED RATE OF INETREST w.e.f. 16.08.2018|
|1||Saving Bank A/c||-||4%|
|2||Saving Bank - No Frill A/c||-||4%|
|3||Term Deposit A/c||07 days to 14 days||4.50%||4.50%|
|4||Term Deposit A/c||15 days to 29 days||5.50%||5.50%|
|5||Term Deposit A/c||30 days to 45 days||5.50%||5.50%|
|6||Term Deposit A/c||46 days to 90 days||6.25%||6.25%|
|7||Term Deposit A/c||91 days to 179 day||6.50%||6.50%|
|8||Term Deposit A/c||180 days to 269 days||6.60%||6.60%|
|9||Term Deposit A/c||270 days to Less than 1 years||6.80%||6.80%|
|10||Term Deposit A/c||1 year (360 days)*||6.90%||7.30%|
|11||Term Deposit A/c||1 year one day to Less than 2 years||6.90%||6.90%|
|12||Term Deposit A/c||2 years to Less than 3 years||6.50%||6.50%|
|13||Term Deposit A/c||3 years to Less than 5 years||6.00%||6.00%|
|14||Term Deposit A/c||5 years and above||6.00%||6.00%|
* Rate of Interest for one year (365 days) @ 7.30% is applicable for limited period i.e. upto 20.09.2018
Interest rate will be coompunded quarterly
Additional lnterest benefit of 0.25% will be admissible for senior citizen on single Deposit of Minumim Rs. 1oooo/- and for the period of minimum one year.
All Bank Employees, Retirees and spouse of deceased retired employee will be eligible to get additional rate above the rates as prescribed above. such retired employee which also falls in the calegory oi senior citizen wi get either 1% excess initerest being staff or O.25% being Senior Citizen.
Premature penality will be charged as already conveyed.
TDS applicable on Term Deposits as per amended from time to time.
TDs will be deducted on the Interest earned on the total amount of deposits held by a customer in the Bank as a whole, and not on Individual Deposits held by him branch wise including Recurring Deposits.
Revised rates shall apply only to fresh deposits a;1d on the renewal of existing deposits on maturity. It has also been decided not to allow premature withdrawal of deposits under slab of 7 days to 45 days and no penalty will be taken on premature withdrawal on term deposits in compliance of Reso. No. 18 dated 28.06.2005 adopted in this bank.