Interest Rate for Fixed Deposits

New and Attractive Interest Rates

w.e.f. October 23, 2018

 Tenure < Rs. 1 crore  
Interest Rate Interest Rate for Senior Citizens*
  181 - 270 Days 6.50 7.00
  > 1 Yr - 2 Yrs 8.00 8.00
  5 Yrs 8.25 8.25

Please note :

  • Interest Rate per annum (%).
  • Please contact your Relationship Manager or Branch for applicable interest rates on any deposit equal to or greater than Rs. 1 crore.
  • Special interest rates quoted above (for tenors more than 1 year) are applicable for deposits of value less than Rs. 1 crore only.
  • These interest rates will be applicable for new fixed deposits and renewal of existing fixed deposits booked from the effective date given above. These rates will not be applicable for existing deposits booked at earlier rates. As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of the fixed deposit and interest will be paid at the contracted rate irrespective of change in the fixed deposit rates thereafter.
  • In case of monthly interest payout, interest shall be calculated for the quarter and paid monthly at a discounted rate in line with RBI directives.

NRE Fixed Deposit Rates

w.e.f. October 23, 2018

Tenure  Interest Rate per annum (%)
1 Yr 6.50
> 1 Yr - 2 Yrs 8.00
> 2 Yrs - 3 Yrs 7.50
> 3 Yrs - 4 Yrs 7.50
> 4 Yrs - < 5 Yrs 7.50
5 Yrs 8.25
  • Initial minimum fixed deposit size is Rs. 20,000.
  • Premature withdrawal:

    For Single Deposit of less than INR 1 crore
    • Less than 1 year : no interest
    • 1 year & above : In case of premature withdrawal of fixed deposits, the interest rate will be 1.00% below the applicable interest rate for the deposit. The applicable interest rate will be the rate as on the date of booking for the period for which the deposit has run. This will be applicable for all deposits including renewals

    For Single Deposit of >= INR 1 crore
    • Less than 1 year: no interest
    • 1 year & above : In case of premature withdrawal of fixed deposits, the interest rate will be 1.00% below the applicable interest rate for the deposit. The applicable interest rate will be the rate as on the date of booking for the period for which the deposit has run. This will be applicable for all deposits including renewals
  • Interest rates are subject to change without prior notice.
  • These interest rates will be applicable for new fixed deposits and renewal of existing fixed deposits booked from the effective date given above. These rates will not be applicable for existing deposits booked at earlier rates. As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of the fixed deposit and interest will be paid at the contracted rate irrespective of change in the fixed deposit rates thereafter.

Domestic / NRO Fixed Deposit Rates

w.e.f. October 23, 2018

Tenure  < Rs. 1 crore  
 Interest Rate  Interest Rate for Senior Citizens*
 7 Days  4.25 4.25
 8 - 14 Days  4.55 4.55
 15 - 29 Days  4.65 4.65
 30 Days  5.00                 5.00                
 31 - 45 Days  5.00                 5.00                
 46 - 59 Days  5.25                5.25                
 60 - 89 Days  5.50 5.50                
 90 - 99 Days  5.55 6.05
 100 Days  6.00 6.50
 101 - 180 Days  5.70 6.20
 181 - 270 Days  6.50 7.00
 271 Days - 1 Yr  6.50 6.50
 > 1 Yr - 1.5 Yrs  8.00 8.00                
 > 1.5 Yrs - 2 Yrs  8.00                 8.00                
 > 2 Yrs - 3 Yrs  7.50                 7.50                
 > 3 Yrs - 4 Yrs  7.50 7.50                
 > 4 Yrs - < 5 Yrs  7.50                 7.50                
 5 Yrs  8.25                 8.25

Please note :

  • Interest Rate per annum (%).
  • Please contact your Relationship Manager or Branch for applicable interest rates on any deposit equal to or greater than Rs.1 crore.
  • Special interest rates quoted above (for tenors more than 1 year) are applicable for deposits of value less than Rs.1 crore only.
  • No interest is payable for deposits withdrawn prematurely before 7 days.
  • Premature withdrawal
    In case of premature withdrawal of fixed deposits on 7th day or thereafter, the interest rate will be 1.00% below the applicable interest rate for the deposit. The applicable interest rate will be the rate as on the date of booking for the period for which the deposit has run. This will be applicable for all deposits including renewals.
  • Minimum fixed deposit amount is Rs. 20,000.
  • Interest Rates are subject to change without prior notice.
  • The following interest payout options available for the customer
    • Monthly
    • Quarterly
    • Cumulative
  • *Applicable only for Retail Deposits - Senior Citizens i.e. Resident Individuals of age
    60 years & above and excludes Non-Resident individuals, Individuals in their capacity as a Karta in HUFs and all non individuals. Incase of joint accounts the first holder should be a senior citizen to avail of these rates.
  • These interest rates will be applicable for new fixed deposits and renewal of existing fixed deposits booked from the effective date given above. These rates will not be applicable for existing deposits booked at earlier rates. As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of the fixed deposit and interest will be paid at the contracted rate irrespective of change in the fixed deposit rates thereafter.
  • In case of monthly interest payout, interest shall be calculated for the quarter and paid monthly at a discounted rate in line with RBI directives.

Interest Rates for Recurring Deposit

w.e.f. October 23, 2018

Maturity Period  Interest Rate Interest Rate for Senior Citizens*
 12 months  6.50                  6.50
 15 months to 24 months  8.00                 8.00
 27 months to 36 months  7.50                  7.50                
 39 months to 48 months  7.50                  7.50                
 51 months to 57 months  7.50                  7.50                
 60 months  8.25                  8.25

Please note :

  • Minimum ticket size of INR 5,000 to a maximum of INR 200,000.
  • Minimum tenure of 12 months (in multiplies of 3 months thereafter).
  • Maximum tenure of 60 months.
  • The interest on Recurring Deposits will be calculated by the bank in accordance with the directions advised by Indian Banks' Association.
  • Interest on Recurring Deposits will be paid out on maturity.
  • Premature withdrawal:
    In case of premature withdrawal of recurring deposits, the interest rate will be 1.00% below the applicable interest rate for the deposit. The applicable interest rate will be the rate as on the date of booking for the period for which the deposit has run. This will be applicable for all deposits including renewals.
  • If the Recurring Deposits is broken within 14 days from the date of booking, no interest will be paid.
  • Interest Rates are subject to change without prior notice.
  • Partial withdrawal is not allowed for recurring deposits.
  • In case an installment is failed, SI failure charges as per schedule of charges will be applicable.
  • *Applicable only for Retail Deposits - Senior Citizens i.e. Resident Individuals of age
    60 years & above and excludes Non-Resident Individuals, Individuals in their capacity as a Karta in HUFs and all non individuals. Incase of joint accounts the first holder should be a senior citizen to avail of these rates.
  • These interest rates will be applicable for new fixed deposits and renewal of existing fixed deposits booked from the effective date given above. These rates will not be applicable for existing deposits booked at earlier rates. As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of the fixed deposit and interest will be paid at the contracted rate irrespective of change in the fixed deposit rates thereafter.

Apply for Fixed Deposit

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SMS FD to 561615

Call 18602666601#



#Customers outside India need to dial +91 22 6601 6601. Customers in Mumbai can also call at +91 22 6601 6601. Call charges apply.

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