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Interest Rates for Savings Account and Term Deposits (Domestic, Non Residents, Loans)

NATURE RATES OF INTEREST (% p.a) MINIMUM BALANCE
ACCOUNT Normal Senior Citizen RURAL Semi Urban Urban
Savings Bank A/c
A.Domestic          
a.with cheque book facility 4 4 1000 1000 1000
b.without cheque book facility 4 4      
c. No Frills Account 4 4 0 0 0
B. Non Resident      
a. NRO 4 -  
b.NRE 4 -  

Term Deposits-Domestic & NRO Deposits (w.e.f. 10.03.2016)
Term Deposits (All Maturities) Rates of Interest (% p.a)
7 days to 14 days 5.00
15 days to 45 days 5.00
46 days to 90 days 6.25
91 days to 179 days 6.50
180 days to 364 days 6.75
365 days 7.35
Above 1 year upto & inclusive of 2 years 7.25
Above 2 years upto & inclusive of 3 years 7.25
Above 3 years upto & inclusive of 5 years 7.10
Above 5 years upto & inclusive of 10 years 7.10
  • Senior citizens are eligible for an additional interest rate of 0.50% p.a. for all domestic term deposits of 1 year and above except for Dhanam Tax Advantage deposits.

NRE (All Maturities) (w.e.f 10.03.2016) Rates of Interest (% p.a)
365 days 7.35
Above 1 year upto & inclusive of 2 years 7.25
Above 2 years upto & inclusive of 3 years 7.25
Above 3 years upto & inclusive of 5 years 7.10
Above 5 years upto & inclusive of 10 years 7.10
  • No interest will be paid on term deposits that have remained with the bank for less than the minimum period prescribed.
  • For interest rates on Domestic, NRE and NRO Deposits of Rs 1 crore and above, please contact your branch.
FCNR (B) (w.e.f 01.08.2016)
  1 year & above
but < 2 years
2 years & above
but < 3 years
3 years & above
but < 4 years
4 years & above
but < 5 years
For 5 years
(Maximum)
Rates of Interest (% p.a)
i) USD 1.87 1.94 2.00 2.07 2.13
ii) GBP 1.36 1.49 1.50 1.53 1.57
iii) EUR 0.83 0.81 0.82 0.85 0.90
iv) CAD 1.95 1.97 1.98 1.99 2.02
v) AUD 2.80 2.76 2.76 2.92 2.95
vi) CHF 0.32 0.28 0.28 0.31 0.34
vii) SGD 2.37 2.50 2.61 2.69 2.76

RFC (w.e.f 01.08.2016)
  6 months and above but less than 1 year
1 years & above
but less than 2 years
2 years & above
but less tahn 3 years
3 years
Rates of Interest (% p.a)
i) USD 2.11 1.87 1.94 2.00
ii) GBP 1.58 1.36 1.49 1.50
iii) EUR 0.81 0.83 0.81 0.82
 

Interest Rates on Loans & Advances

MARGINAL COST OF FUNDS BASED LENDING RATES (MCLR)
Effective from 01.04.2016, all rupee loans sanctioned/ disbursed and credit limits renewed will be priced with reference to the MCLR. MCLR is subject to monthly review and the rates given below will be effective till next review. Tenor-based MCLR effective from 8th August, 2016 is as under:
Tenor MCLR (%) p.a.
Overnight MCLR 9.45%
One months MCLR 9.45%
Three months MCLR 9.70%
Six months MCLR 10.15%
One year MCLR 10.40%

Base Rate - The Base Rate of the Bank is 11.40% p.a. with effect from November 3, 2015.
Benchmark Prime Lending Rate (BPLR) of the Bank is 21% p. a. with effect from November 2, 2011
More...

Interest Rates on Retail Segment:
Sl No. Product Range of Spread over MCLR(% p. a)*
1 Dhanam Home loan 0.00% to 0.25%
2 Dhanam Home loan –Surrogate 0.53% to 3.00%
3 Dhanam Car Credit : - for New car 0.00% to 0.25%
Dhanam Car Credit : - for Used car 3.28% to 5.75%
4 Dhanam Two wheeler Loans 3.28% to 5.75%
5 Dhanam Commercial Vehicle loans 1.28% to 5.75%
6 Dhanam Vidya Credit Scheme – Educational loan with interest subsidy 1.78% to 4.25%
Dhanam Vidya Credit Scheme – Educational Loan for others 3.28% to 5.75%
7 Dhanam Easy Loan 0.50% to 1.00%
8 Dhanam Construction Finance Loan 1.78% to 4.25%
9 Dhanam Green Loan 1.28% to 3.75%
10 Dealer Inventory Funding 1.78% to 4.25%
11 Trade Advance 3.28% to 5.75%
12 Loan Against Property (LAP) 1.78% to 4.25%
13 Dhanam Ready Money Loan Overdraft – DRMOD/ DRMTL 1.78% to 4.25%
14 Dhanam Lease Rental Discounting 1.53% to 4.00%
15 Dhanam Business Loan 1.78% to 4.25%
Interest Rates on Corporate and SME segment:
Sl No. Product Range of Spread over MCLR (% p. a)*
1 Working capital facilities 1.53% to 4.00%
2 SME 1.53% to 4.00%
3 Term Loans 1.53% to 4.00%
4 Short Term Loans 0.78% to 3.25%
*Interest rates offered are based on the risk profile of customer and proposed facility, taking one year MCLR as the standard rate. Fine pricing may be done based on the financials/ security and other comfort factors. For more details, including rates for other advance schemes, contact your nearest branch.

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Information on MCLR

The MCLR is computed by taking into account –

  • Marginal cost of funds
  • Negative Carry on Cash Reserve Ratio
  • Operating costs and
  • Tenor Premium

MCLR is the minimum lending rate. Bank's final lending rates for various types of loans and advances are arrived at by adding the spread to the MCLR based on rating or tenor corresponding to the residual period to next interest reset of the loan.

MCLR prevailing on the day, the loan is disbursed will be applicable till the next reset date, irrespective of the changes in the benchmark during the interim. The reset dates are linked to the MCLR review date and reset frequency.

Borrowers whose accounts are linked to BPLR/ Base Rate can approach the Branch Manager for conversion of their loan accounts to MCLR linked interest rates, at mutually acceptable terms.

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