Interest Rate on Deposit

INTEREST RATES ON TERM DEPOSITS w.e.f. 01.01.2024.
Sr. No	Fixed / Term Deposit Period	STD / FDR / MUC. (Monthly / Quarterly Interrest Payout)		DD / KTY / RD (Cumulative Deposits)
Sr. No	Fixed / Term Deposit Period	For General Public & Deposit Amount	For Co-Operative Societies, Senior Citizens (Age 60 & above). Banks Staff/Ex-Staff Members	For General Public & Deposit Amount	For Co-Operative Societies, Senior Citizens (Age 60 & above). Banks Staff/Ex-Staff Members	Annualised Yield
1	7 Days – 45 Days	3.50%	4.00%	—	—	—
2	46 Days – 179 Days	4.75%	5.25%	—	—	—
3	180 Days – 210 Days	5.75%	6.25%	—	—	—
4	211 Days – 365 Days	6.00%	6.50%	—	—	—
5	Above 1 Year – Up to 2 Years	6.80%	7.30%	6.80%	7.30%	7.50%
6	Above 2 Years – Upto 3 Years	7.00%	7.50%	7.00%	7.50%	7.71%
7	Above 3 Years – Upto 5 Years	6.75%	7.25%	6.75%	7.25%	7.45%
8	Above 5 Years	6.50%	7.50%	6.50%	7.50%	7.71%
9	400 days (Suvarna Mohstav Deposit Scheme)	7.10%	7.60%	7.10%	7.60%	7.82%

Bank Offer 400 days ( Suvarn Mohstav Deposit Scheme) Interest rates at 7.10% p.a. to the General Public and 7.60 % p.a. to Co-Operative Societies, Senior Citizens (Age 60& above), Bank’s Staff/Ex-Staff Members.

Bulk Deposit of Rs 15 Lakhs and above for 1 Year to 3 Years @ 7.25% (For General Public)

Bulk Deposit of Rs 15 Lakhs and above for 1 Year to 3 Years @ 7.50% (For Co-Operative Societies, Senior Citizens (Age 60 & above), Bank’s Staff Members)

Branches are hereby advice to market the bank’s Deposit Schemes and endeavor to mobilize deposits on the basis of revised Interest Rates.

Note :

The revised Interest Rates on Term Deposits will be applicable to fresh deposit & the existing deposition on the date of renewals.
Monthly / Quarterly Interest Payout should strictly be observed on the basis of Discounting Factor.
The Scheme will be valid till 31- March -2024.

Interest Rate on Deposit

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