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. 01/07/2024 (% p.a.) | |
---|---|
Maturity | Fixed Deposit Less than Rs.3 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 – 221 Days | 5.25 |
222 Days | 6.30($) |
223 – 269 Days | 5.25 |
270 – 332 Days | 5.50 |
333 Days | 7.15($) |
334-<1 Year | 5.50 |
1 Year | 6.30 |
>1 Years - 443 Days | 6.00 |
444 Days | 7.25($) |
445 Days - 665 Days | 6.00 |
666 days | 7.30 |
667 Days-2 years | 6.00 |
Above 2 years<998 days | 6.30 |
999 days | 6.65 |
1000 Days < 3 years | 6.30 |
3 years - 5 years | 6.00 |
>5 years - 10 years | 6.25 |
(#) Minimum amount of term deposit shall be Rs. 1.00 lac
($) Valid for period upto 30.09.2024 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. 3 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. 222Days, 333Days, 444Days, 666Days, 999Days) Term Deposits of less than Rs. 3 crore, over and above mentioned in point no. 1 above 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.