Deposits



Term Deposits


  • Fixed Deposit Scheme
  • Money Multiple Certificate
  • Recurring Deposit

Deposit Interest Rates effective from 01st May 2023

Period from ROI
30 Days to 45 Days 4.30%
46 Days to 90 Days 4.60%
91 Days to 180 Days 5.25%
181 Days to 12 Months 6.25%
13 Months to 18 Months 7.50%
19 Months to 36 Months 7.25%
37 Months and Above 6.00%

0.50% Extra for Senior Citizen for investments above 13 months

  • Investment under this scheme can be done individually or jointly or in the name of minors or organizations or companies or association of persons.
  • Amount Invested under this scheme carries a fixed Rate of Interest for the term Invested.
  • Interest earned can be withdrawn periodically i.e., Monthly, Quarterly, half yearly or annually or at the time of Maturity.
  • Periodic interest withdrawal can be through Cash or Standing Instruction to other account (SB / RD) or Interest Warrants (Post dated Cheques)
  • Interest Earned from Deposits in excess of Rs.40000/- per year are subject to deduction of TDS as per instructions from the Income Tax Department.
  • Customers producing Form 15G / 15H are exempted from TDS.
  • Deposit can be withdrawn before its maturity with advance notice and by having a penalty assessed (except in case of reinvestment).


Downloads

• Term Deposit Application Form

• Form 15G

• Form 15H

• Know your Customer (KYC) From

• Letter for Premature Closure of Deposit



Deposit Interest Rates effective from 01st May 2023

Period ROI
13 Months To 18 Months 7.50%
19 Months To 36 Months 7.25%
37 Months and above 6.00%

For Senior Citizen 0.50% Extra on Deposits above 13 months

  • Investment under this scheme can be done individually or jointly or in the name of minors or organizations or companies or association of persons.
  • Minimum period for Investment is 13 Months
  • Quarterly Compounded Interest
  • The Deposit amount along with interest is payable only at the time of Maturity.
  • Interest Earned from Deposits in excess of Rs.40000/- per year are subject to deduction of TDS as per instructions from the Income Tax Department.
  • Customers producing Form 15G / 15H are exempted from TDS.
  • Deposit can be withdrawn before its maturity with advance notice and by having a penalty assessed (except in case of reinvestment).


Downloads

• Term Deposit Application Form

• Form 15G

• Form 15H

• Know your Customer (KYC) From

• Letter for Premature Closure of Deposit



Deposit Interest Rates effective from 01st May 2023

Period ROI
181 Days to 12 Months 6.25%
13 Months To 18 Months 7.50%
19 Months To 36 Months 7.25%
37 Months and above 6.00%

  • Monthly Deposit Scheme.
  • Investment under this scheme can be done individually or jointly or in the name of minors or organizations or companies or association of persons.
  • Period for Investment is 12 to 39 Months
  • Quarterly Compounded Interest
  • The Deposit amount along with interest is payable only at the time of Maturity.
  • Interest Earned from Deposits in excess of Rs.40000/- per year are subject to deduction of TDS as per instructions from the Income Tax Department.
  • Deposit can be withdrawn before its maturity with advance notice and by having a penalty assessed.


Downloads

• Term Deposit Application Form

• Form 15G

• Form 15H

• Know your Customer (KYC) From

• Letter for Premature Closure of Deposit