Interest Rates on Saving Bank Deposits with effect from 15th SEP 2023.
| Particular | Rate of Interest |
| Saving Bank Deposit including NRE/NRO | Revised Rates w.e.f 15.09.2023 (% p.a) |
|---|---|
| Upto 1 Crore | 2.70% |
| Above 1 Crore to upto 50 Crore | 2.90% |
| Above 50 Crore to upto 100 Crore | 4.52% |
| Above 100 Crore to upto 500 Crore | 4.55% |
| Above 500 Crore | 5.00% |
Rate of interest on domestic term deposits, NRO accounts, capital gain accounts scheme 1988, recurring deposit scheme and psb fixed deposit tax-saver scheme
| Revised w.e.f. 01/12/2023 (% p.a.) | |
|---|---|
| Maturity | Fixed Deposit Less than Rs.2 Cr |
| 7 - 14 Days | 2.80(#) |
| 15 - 30 Days | 2.80 |
| 31 - 45 Days | 3.00 |
| 46 - 90 Days | 4.25 |
| 91 - 120 Days | 4.25 |
| 121-150 Days | 4.75 |
| 151 - 179 Days | 4.75 |
| 180 – 269 Days | 5.25 |
| 270 – <1 Year | 5.50 |
| 1 Year | 6.20 |
| >1 Year - 443 Days | 6.00 |
| 444 Days | 7.40($) |
| 445 Days - 2 Years | 6.00 |
| Above2Years-<3Years | 6.30 |
| 3Years - 5Years | 6.00 |
| >5 Years - 10 Years* | 6.25 |
(#) Minimum amount of term deposit shall be Rs. 1.00 lac
($) Valid for period upto 31.01.2024 only.
(*) FDRs issued for special purpose (under direction of court etc.), the term may exceed 10 years. The effective ROl for the same shall be as applicable for 5Y-10Years' bucket
- Note:
- Senior Citizens shall be given benefit of additional interest of 0.50% on term deposits of less than Rs. 2 crore, over and above the mentioned rates for the maturity of 180 days & above on fresh as well as on renewal of term deposits, same shall not be available to NRE, NRO deposits, capital gain and Bulk deposits.
- Super Senior Citizens (80 Years & above) shall be given benefit of additional interest of 0.15% on specific period (i.e.444 Days) Term Deposits of less than Rs. 2 crore, for the maturity of 180 days & above on fresh as well as on renewal of term deposits, same shall not be available to NRE, NRO deposits, capital gain and Bulk deposits.
