Interest Rates on Saving Bank Deposits with effect from 01st Nov 2022.
|Particular||Rate of Interest|
|Saving Bank Deposit including NRE/NRO||Revised Rates
w.e.f 01.11.2022 (% p.a)
|Upto 1 Crore||2.80%|
|Above 1 Crore to upto 100 Crore||2.90%|
|Above 100 Crore to upto 500 Crore||4.50%|
|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. 20/04/2023 (% p.a.)|
Less than Rs.2 Cr
|7 - 14 Days||2.80(#)|
|15 - 30 Days||2.80|
|31 - 45 Days||3.00|
|46 - 90 Days||4.60|
|91 - 120 Days||4.75|
|151 - 179 Days||4.75|
|180 – 269 Days||6.00|
|270 – 364 Days||6.00|
|1 Year - 399 Days||6.40|
|401 - 554 Days||6.40|
|3Years - 5Years||6.25|
|>5 Years - 10 Years*||6.25|
(#) Minimum amount of term deposit shall be Rs. 1.00 lac
(##) Valid for period 01.04.2023 - 30.06.2023 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
- 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. 400 Days, 555 Days & 601 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.