Earn Interest at 8% p.a. for SENIOR CITIZEN and 7.50% p.a. for GENERAL PUBLIC on FIXED DEPOSIT. T&C Apply.
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Service Charges / Locker Rents & Deposits Rates Revised
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Term Deposit
Term Deposit scheme to suit your requirement and future plan. You can not only earn higher income on your surplus funds by investing in any of our term deposit schemes, but also avail loan against those funds. Thus fulfill your need, multiply your funds as well as keep your savings secure.
| Interest Rates on Fixed Deposits (revised w.e.f. August 23, 2024) | ||||
|---|---|---|---|---|
| Period | General Public / Trusts / Society / Corporates | Senior Citizen | ||
| SDR / MIP / FDR / RD / QIRP | SDR / MIP / FDR / RD / QIRP | |||
| ** DEPOSITS FROM 7 DAYS TO 364 DAYS ARE SHORT TERM DEPOSITS (SDR) | ||||
| 7 days - 44 days | 2.75 % | 3.00 % | ||
| 45 days - 90 days | 5.00 % | 5.50 % | ||
| 91 days - 180 days | 5.50 % | 6.00 % | ||
| 181 days - 364 days | 6.05% | 6.30% | ||
| 12 months – 13 months | 7.50% | 8.00% | ||
| 14 months – 24 months | 7.15% | 7.65% | ||
| 25 months – 36 months | 7.10% | 7.60% | ||
| MIP / FDR / RD | MIP / FDR / RD | |||
| Above 3 years - upto 5 years | 6.75 % | 7.25 % | ||
| Above 5 years - upto 7 years | 7.00 % | 7.50 % | ||
| Above 7 years - upto 10 years | 7.00 % | 7.50 % | ||
| ANNAPURNA TAX BENEFIT SCHEME – Tax Benefit upto Rs. 1.50 lakhs per Investor u/s 80 C | ||||
| Scheme | FDR | |||
| For all category (Individual/HUF/Senior Citizen) | ATBS (FDR) |
|||
| Scheme (5 Year - No premature payment) | 5.90 % | |||
Terms & Conditions Apply
* MIP - Monthly Interest will be credited at a Discounted Rate
* Interest rates for FDR/MIP/RD/QIRP products are applicable for all NRE and NRO products. NRE Deposits should be for minimum one year. Rate of Interest for NRE / NRO deposit will be as per General Public Rate only.
* Interest rates are subject to change at the sole discretion of the Bank.
* 1% penalty for premature withdrawal for all categories of Deposits
* RD / MIP / FDR / QIRP should be minimum period of 12 months only.
* Interest rate on Locker Deposit Scheme (LODP) available to Individuals/HUF/Sr. Citizens will be 6.75% for 36 months.
* Interest Rate on Auto sweep facility will be flat 5.50 % for all entities (Normal Residents).
* No Interest upto 6 days – for all types of Term Deposits.
Eligible to operate a Term Deposit Account
- Individual - Single / Joint account
- Minor - Operated by guardian natural / appointed by court
- Trust - Private / Public
- Partnership firm
- Limited company - Private / Public
- Club, Association & Society
To open Term Deposit Account, you just need to provide
- Duly completed account opening form
- Pan card /FORM 60- if, no Pan card
- Proof of Residence of the applicant(s)
- Proof of Photo Identification of the applicant(s)
- Proof of Age in case of senior citizen
- One recent passport size color photographs of Partner(s) / Director(s)
- Introduction by an existing customer, whose account is at least 6 months old OR
- Introduction letter of your existing bank verifying signature
- Submit Partnership deed with Registration receipt in case of Partnership firm
- Submit Memorandum of Association, Article of Association, Resolution in case of Company
- Board Resolution / Resolution in case of a company, an association
Short Term Deposit (SDR)
Easy liquidity still earn interest.
Salient features of the scheme
- Minimum opening balance of ₹ 1000/-
- Minimum period of 7 days, maximum up to 364 days
- Interest paid along with the principal on maturity
- Can avail loan up to 90 % of accumulated deposit
- Interest as per card rates
Fixed Deposit (FDR)
Invest and earn interest quarterly or half yearly.
Salient features of the scheme
- Minimum opening balance of ₹ 1000/-
- Minimum period of 1 year, maximum up to 10 years
- Interest due will be paid on quarterly basis, notify instruction while opening the account
- Can avail loan up to 90% of principle amount
- Interest as per card rates
Recurring Deposit (RD)
Regular savings leads to high investment.
Salient features of the scheme
- Minimum opening balance of ₹ 100/- or in multiple of ₹ 100/- per month
- Minimum period of 1 year, maximum up to 10 years
- Interest paid along with the principal on maturity
- Can avail loan up to 90% of accumulated deposit
- Interest as per card rates
Monthly Income Plan (MIP)
Earn monthly interest on your investment.
Salient features of the scheme
- Minimum opening balance of ₹ 1000/-
- Minimum period of 1 year, maximum up to 10 years
- Interest due can be paid on monthly basis
- Can avail loan up to 90 % of principle amount
- Interest as per card rates
Annapurna Tax Benefit Deposit Scheme
Save tax and maximize interest on your investment.
Salient features of the scheme
- Minimum opening balance of ₹ 5,000/-, maximum of ₹ 1,50,000/- (In a financial year)
- Deposit for a fixed period of 5 years
- Interest payable at quarterly rests
- No premature encashment is allowed
- Deposit is eligible for deduction u/s 80C” of Income Tax
- Nomination facility available
- Interest as per card rates
Quarterly Interest Re-Investment Plan (QIRP)
Gain more by earning interest on interest.
Salient features of the scheme
- Minimum opening balance of ₹ 1,000/-
- Minimum period of 1 year in multiple of 3 months, maximum up to 10 years
- Interest automatically went back on quarterly compounding basis
- Can avail loan up to 90% o of accumulated deposit
- Interest as per card rates
Automatic Renewal Certificate (ARC)
Automatic renewal of principal no need to visit for renewal process.
Salient features of the scheme
- Minimum opening balance of ₹ 5000/-
- Minimum period of 1 month
- Interest paid periodically as per the instruction of the depositor
- Deposit receipt renewed without interest automatically on due date for six times
- Can avail loan up to 90% of accumulated deposit
- The deposit scheme is subject to change on any date in the future, noting it on or before due date
- Interest as per card rates
Flexi Quarterly Interest Re-Investment Plan
Break Investment without the loss of interest.
Salient features of the scheme
- Open an account in units of ₹ 1000/- each
- Minimum period of 1 year, in multiple of 3 months, maximum up to 10 years
- Part amount can be withdrawn conveniently in units without the loss of interest
- Remaining units continue earning same interest till maturity
- Can avail loan up to 90% of accumulated deposit
- Interest as per card rates
Automatic Renewal Certificate with Interest
No renewal hassle guarantees automatic renewal with interest.
Salient features of the scheme
- Open an account with minimum of ₹ 5000/-
- Minimum period of 1 month
- Deposit receipt renewed with interest automatically on due date for six times
- Can avail loan up to 90% of accumulated deposit
- Can change deposit scheme any date in future, noting it on or before due date
- Interest as per card rates
Non-Resident (External) NRE Deposit Account
Term Deposit account for NRE to maintain foreign currency earnings in Indian rupees
Eligible to operate a Term deposit Account
NRE Term deposit accounts can be opened in the names of non-resident individual of Indian nationality or Person of Indian origin.
Non-Resident Indian (NRE)
As per clause 2(W) of FEMA 1999 indicates that "A person resident outside India" means a person who is not resident in India.
FEMA 1999, as per Clause 2(V) defines a "Resident" as under
A person residing in India for more than 182 days during the preceding FY but does not include a person gone out of India for employment, business, vocation outside India or for any other purpose where his intention to stay outside India for an uncertain period.
Person of Indian Origin (PIO)
PIO means a citizen of any country other than Bangladesh or Pakistan, if he at any time held an Indian Passport, he or either his parents or Grandparents was an Indian and permanent resident in India at any time.
To open a Term deposit Account, you just need to provide
- Duly completed account opening form
- Photocopy of current passport
- Photocopy of valid work permit or employment visa
- Employment letter
- Photocopy of PIO Card
- Proof of residence of the applicant
- Two recent passport size color photographs of applicant(s)
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