Interest Rates
Deposits
In supersession of the previous circulars in exercise, the Board of Directors of the Bank has resolved to revise the prevailing interest rates of term deposits with effect from 12th February 2019 vide DBR No.13 dated 01.02.2019. The details of modified rates are shown hereunder.
| Deposit Period | Standard Rates | Senior Citizen |
|---|---|---|
| 15 days to 29 days | 4.50 % | 5.00 % |
| 30 days to 45 days | 5.00 % | 5.50 % |
| 46 days to 90 days | 6.00 % | 6.50 % |
| 91 days to 179 days | 6.50 % | 7.00 % |
| 180 days to 364 days | 7.00 % | 7.50 % |
| 12 months to 24 months | 8.00 % | 8.50 % |
| 25 months to 36 months | 7.50 % | 8.00 % |
| 37 months to 60 months | 7.50 % | 8.00 % |
| above 5 years to 10 year | 7.25 % | 7.75 % |
| Deposit Period | Standard Rates | Senior Citizen |
|---|---|---|
| 777 days of Deposits | 8.75 % | 9.25 % |
| 1111 days of Deposits | 9.00 % | 9.50 % |
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Interest will be paid only on due date.
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The deposits under this scheme is allowed only for the above said days and not applicable for the days in between.
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The facility of ½ % additional interest to the senior citizens is applicable to this deposit scheme.
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The regular deposit scheme interest is applicable in the case of premature closing.
The Board of Directors of the Bank has resolved to reduce interest rate on NRE Deposits with effect from 12th February 2019 vide DBR No.13 dated 01.02.2019. The details of rates are shown hereunder.
>| Deposit Period | Interest Rate |
|---|---|
| 1 year to 2 year | 8.00 % |
| Above 2 year to 3 year | 7.50 % |
| Savings Account | 4.00 % |
| Deposit Period | Standard Rates | Senior Citizen |
|---|---|---|
| Single Deposit of Rs. 10 Lakhs and above - (30 days) | 6.00 % | -- |
| Single Deposit of Rs. 10 Lakhs and above - (91 days) | 7.00 % | -- |
Loans
The Board of Directors of the Bank has resolved to revise the interest rate on advances as specified below vide DBR No.18 dated 31.03.2017. The revised interest rate will come into force with effect from 17th April 2017.
| Loan Types | Interest Rates |
|---|---|
| S.T.Loan | 12.00 % |
| MT Loan / LT Loan / Business Loan / Over Draft / Spl.Over Draft | |
| Upto 25,000 | 12.00 % |
| 25,001 - 50,000 | 13.00 % |
| 50,001 - 2,00,000 | 13.00 % |
| 2,00,001 - 5,00,000 | 13.50 % |
| Above 5,00,000 | 14.00 % |
| Gold Loan | 11.00 % |
| Easy Gold Loan | 10.00 % |
| Business Cash Credit | 12.50 % |
| House Loan | 11.00 % |
| Educational Loan | |
| Upto 50,000 | 11.00 % |
| 50,001 - 2,00,000 | 12.00 % |
| 2,00,001 and above | 12.50 % |
| SME Business Loan | 11.00 % |
| SME Business OD | 11.00 % |