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Click here for Product Change Notice w.e.f July 1, 2011

Revision in Savings Account w.e.f. November 27, 2017

Forex Card Rates
Forex Card Rates Click here

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 (w.e.f. 01.10.2019)
A.Domestic Up to Rs 50 Lakh Above Rs 50 Lakh Up to Rs 50 Lakh Above Rs 50 Lakh      
a.with cheque book facility 3.50 1. 3.50% for balance upto Rs 50 lakh
2. For remaining balance, 3.75%
3.50 1. 3.50% for balance upto Rs 50 lakh
2. For remaining balance, 3.75%
1000 1000 1000
b.without cheque book facility 3.50 1. 3.50% for balance upto Rs 50 lakh
2. For remaining balance, 3.75%
3.50 1. 3.50% for balance upto Rs 50 lakh
2. For remaining balance, 3.75%
     
c. No Frills Account 3.50 1. 3.50% for balance upto Rs 50 lakh
2. For remaining balance, 3.75%
3.50 1. 3.50% for balance upto Rs 50 lakh
2. For remaining balance, 3.75%
0 0 0
B. Non Resident          
a. NRO 3.50 1. 3.50% for balance upto Rs 50 lakh
2. For remaining balance, 3.75%
3.50 1. 3.50% for balance upto Rs 50 lakh
2. For remaining balance, 3.75%
1000 1000 1000
b.NRE 3.50 1. 3.50% for balance upto Rs 50 lakh
2. For remaining balance, 3.75%
3.50 1. 3.50% for balance upto Rs 50 lakh
2. For remaining balance, 3.75%
1000 1000 1000

Term Deposits-Domestic & NRO Deposits (w.e.f. 02.09.2019)
Term Deposits (All Maturities) Rates of Interest (Less than Rs.2 Crore)
7 days to 14 days 4.00
15 days to 45 days 4.00
46 days to 60 days 5.00
61 days to 90 days 5.00
91 days to 179 days 5.50
180 days to less than one year 6.50
1 Year and above upto & inclusive of 2 years 6.90
Above 2 years upto & inclusive of 3 years 6.50
Above 3 years upto & inclusive of 5 years 6.50
Above 5 years upto & inclusive of 10 years 6.50
* only for retail deposit
  • 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.


Bulk Deposits - Domestic Term Deposits only (w.e.f. 01.07.2019)
Term Deposits (All Maturities) Rates of Interest (deposits of Rs.2 crore and above)
7 days to 14 days 3.50
15 days to 45 days 3.50
46 days to 90 days 4.50
91 days to 179 days 5.00
180 days to less than one year 6.00
  • Above rates are subject to change without prior Notice. The permission to accept the bulk deposit would be given by Treasury Department keeping in view the liquidity position of the Bank. No senior citizen benefits available for single deposit of Rs.2 crore & above.

NRE (All Maturities) (w.e.f 02.09.2019) Rates of Interest (Less than Rs.2 Crore)
Above 1 year upto & inclusive of 2 years 6.90
Above 2 years upto & inclusive of 3 years 6.50
Above 3 years upto & inclusive of 5 years 6.50
Above 5 years upto & inclusive of 10 years 6.50
  • No interest will be paid on term deposits that have remained with the bank for less than the minimum period prescribed.
  • The above Interest rates are Applicable to Deposits less than R/s 2 Crore.
  • For interest rates on Domestic, NRE and NRO Deposits of Rs 2 crore and above, please contact your branch.
  • We have introduced penalty for Premature Withdrawal for 1 % for Term Deposits of Rs. 5,00,000/- and above and 0.50 % for Term Deposits less than 5,00,000/- w.e.f. April 18, 2016.
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FCNR (B) (w.e.f 01.12.2019)
  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 2.24 1.63 1.57 1.56 1.58
ii) GBP 1.24 0.78 0.78 0.80 0.81
iii) EUR 0.16 0.05 0.05 0.05 0.05
iv) CAD 2.60 -- -- -- --
vi) SGD 1.91 -- -- -- --

  • FCNR (B) and RFC deposits for staff members existing or retired will not be eligible for additional rate of interest of One percent over & above the Card rates.

RFC (w.e.f 01.12.2019)
  6 months and above but less than 1 year
1 years & above
but less than 2 years
2 years & above
but less than 3 years
3 years
Rates of Interest (% p.a)
i) USD 2.40 2.24 1.63 1.57
ii) GBP 1.36 1.24 0.78 0.78
iii) EUR 0.11 0.16 0.05 0.05
 

Interest Rates on Loans & Advances

1. Base Rate - The Base Rate of the Bank is 11.35% p.a. w.e.f 1st December, 2018.

2. BPLR Rate - Benchmark Prime Lending Rate(BPLR) of the Bank is 21% p. a. w.e.f 2nd November, 2011 Know More...

3. Repo Rates - Repo Linked Lending Rates:

“Bank has introduced Repo Linked Lending Rates for all new floating rate loans to Personal, Retail and Micro/Small enterprises w.e.f 1st December, 2019. .

RLLR of the Bank has been reduced by 25 bps from 8.18% to 7.93% w.e.f 1st December, 2019

The actual lending rate will be RBI Repo Rate plus applicable spread . The Repo linked interest rate shall be reset at least once in three months”.

4 . MCLR Rates
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 1st December , 2019 is as under:
Tenor MCLR (%) p.a.
Overnight MCLR 8.10%
One months MCLR 8.10%
Three months MCLR 8.80%
Six months MCLR 9.60%
One year MCLR 9.80%



Pricing for Loan Products details

Please Click Here For Loan Products Interest Rates w.e.f. 1st December, 2019
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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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