Fixed Deposits

Fixed deposit are a safe investment option that guarantees consistent interest rates, special interest rates for senior citizens, various interest payment options, and no market-related risks. Term Deposit accounts can be opened by individuals/ proprietorship concern/ partnership firms/ Private & Public limited Companies/ HUFs/ Specified Associates/ Societies/ Trusts/ Departments of Authority created by Government (Central or State)/Limited Liability Partnership etc. The Term deposit account holders at the time of placing their deposits can give instructions with regard to closure of deposit account or renewal of deposit for further period on the date of maturity. In case any instruction is not received from depositor/s, deposits will be treated as an auto renewal deposit and would be renewed for a similar period as that of matured deposit. Auto-renewal will not be available in Recurring Deposits. Nomination facility is available on all deposit accounts opened by individuals. Bank recommends that all depositors avail nomination facility. The nominee, in the event of the death of the depositor/s, would receive the balance outstanding in the account as a trustee of legal heirs. The depositor will be informed of the advantage of the nomination facility while opening a deposit account.


Interest on Deposits Rates Effective from 10-09-2020


Period of Deposits
Exiting Rate
(General
Existing Rate
(Senior citizen)
Revised Rate
(General)
Revised Rate
(Senior citizen)

7 days to 14 days

4.00

4.00

3.00

3.00

15 days to 29 days

4.00

4.00

3.00

3.00

30 days to 45 days

4.00

4.00

3.00

3.00

46 days to 90 days

4.50

4.50

3.25

3.25

91 days to 180 days

5.00

5.00

4.25

4.25

181 days to 269 days

5.75

5.75

4.50

4.50

270 days to less than 1 year

5.75

5.75

4.75

4.75

One Year

6.00

6.50

5.50

6.00

Above 1 year to less than 3 years

6.00

6.50

5.50

6.00

3 years and above

5.75

6.25

5.50

6.00