Interest Rates

Interest Rates On Loans & Advances

1). Repo Linked Lending Rates

In terms of guidelines issued by Reserve Bank of India regarding implementation of External Benchmark Based Lending rates. Bank has introduced Repo Linked Lending Rate (RLLR) for all floating rate loans to Personal, Retail and Micro/ Small/ Medium enterprises w.e.f. 1st October,2019.


For loans to Personal, Retail and Micro/ Small/ Medium enterprises, applicable RLLR is 8.50% w.e.f. 25th February,2023

(Current RBI Repo Rate: 6.50% + Mark Up 2.00%).

The actual lending rate will be RLLR plus applicable spread for the said loan.

2). Marginal Cost of funds based Lending Rate (MCLR) for different tenors

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 March, 2024 is as under:
TenorMCLR (%) p.a.
Overnight MCLR8.20%
2 days to 1 month MCLR8.25%
Over one month to three months MCLR8.80%
Over three months to six months MCLR9.30%
Over six months to one year MCLR9.70%

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.

3). Base Rate

The Base Rate of the Bank is 11.60 % p.a.  w.e.f 1st December, 2023.

4). BPLR Rate

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

5). Pricing for Loan Products details

Click Here For Loan Products Interest Rates w.e.f. 10th January, 2024

Interest Rates On Deposits & Accounts

Term Deposits-Domestic & NRO Deposits

Term Deposits-Domestic & NRO Deposits (w.e.f. 01.02.2024)
Term Deposits (All Maturities)Rates of Interest (Less than Rs.2 Crore)
7 Days to 14 Days5.25
15 Days to 45 Days5.25
46 Days to 60 Days6.25
61 Days to 90 Days6.25
91 Days to 179 Days6.50
180 Days to less than one year6.50
1 Year and above upto & inclusive of 2 years6.75
555 Days (18 months and 7 Days) 7.25
Above 2 years upto & inclusive of 3 years
Above 3 years upto & inclusive of 5 years6.60
Above 5 years upto & inclusive of 10 years6.60
  • Senior citizens are eligible for an additional interest rate of 0.50% p.a. for all domestic term deposits of 1 year and above

Bulk Deposits - Domestic Term Deposits Only

Term Deposits (All Maturities)Rates of Interest
Tenure7-14 Days15-30
31-45 Days46-90 Days91-179 Days180 Days – less than 1 Year1 Year (Domestic and NRE)Above 1 Year Upto 2 Years (Domestic and NRE)
Rs.2 Crore and upto Rs.10 Crore5.755.75 5.756.506.757.007.257.25
Above Rs.10 Crore  and upto Rs.25 Crore5.755.755.756.506.757.007.257.25
Above Rs.25 Crore and upto Rs.50 Crore5.755.755.756.506.757.007.257.25
Above Rs.50 Crore5.755.755.756.506.757.007.257.25
  • Rates above will apply for the tenors / amount slabs mentioned.
  • Above rates are subject to change. 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.

Term Deposits-NRE Deposits

NRE (All Maturities) (w.e.f  03.05.2023)Rates of Interest (Less than Rs.2 Crore)
Above 1 year upto & inclusive of 2 years6.75
555 days 7.25
Above 2 years upto & inclusive of 3 years6.50
Above 3 years upto & inclusive of 5 years6.60
1111 days 6.60
Above 5 years upto & inclusive of 10 years6.60
  • 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.
  • W.e.f April 18 2016, a penalty of 1% for term deposits of Rs.5,00,000 and above and 0.5% on deposits less than Rs.5,00,000 upon premature closure is applicable.

FCNR (B) & RFC Interest Rate

1) FCNR (B) Interest Rate w.e.f. (1st March 2024)
1 year & above but less than 2 years 2 years & above but less than 3 years 3 years & above but less than 4 years 4 years & above
but < 5 years
5 years only

Rates of Interest (% p.a)
i) USD5.754.904.003.253.25
ii) GBP4.76
iii) EUR1.761.76
iv) SGD0.60****
  • FCNR (B) deposits can be opened in four major currencies including US dollars, GBP, Euros, & SGD.
  • 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.
2) RFC Interest Rates w.e.f. (1st March 2024)
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) USD5.75
ii) GBP4.76
iii) EUR1.76

Savings Account Interest Rates

Savings Bank Account Rates (w.e.f. 01.06.2020)
A.DomesticUpto Rs.1 LakhAbove Rs.1 Lakh and upto Rs.5 Lakh Above Rs.5 Lakh and upto Rs.50 Lakh Above Rs 50 Lakh
a. Accounts with balance upto Rs.1 Lakh3.00%-- -- --
b.Accounts with balance above Rs.1 Lakh & upto Rs.5 Lakh3.00%3.25%-- --
c. Accounts with balance above Rs.5 Lakh & upto Rs.50 Lakh3.00%3.25%3.75%--
d. Accounts with balance Above Rs.50 Lakh3.00%3.25%3.75%4.00%
B. Non Resident 
a. NRO3.00%3.25%3.75%4.00%