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Rates of Interest on Domestic Term Deposits w.e.f 1st September, 2008
Interest rates for deposits : (*)(#)
Maturity Pattern Interest Rate (% p.a)
7 days to 45 days 4.50
46 days to 90 days 5.50
91 days to 180 days 7.50
181 days to 364 days 8.50
Above 1 year - upto 2 years 10.25
Above 2 years - upto 3 years 10.00
Above 3 years 9.50
Interest rate for Senior Citizens:
  • 0.75% extra over the general rate for all maturity periods
    		•
    Maturity Pattern Interest Rate(% p.a)
    7 days to 45 days 5.25
    46 days to 90 days 6.25
    91 days to 180 days 8.25
    181 days to 364 days 9.25
    above 1 year - upto 2 years 11.00
    above 2 years - upto 3 years 10.75
    Above 3 years 10.25
    Penalty Clause for Premature Closure of both Domestic & NRE Deposits:
  • The penalty clause for premature closure of deposits on fresh deposits and renewals made are reiterated as follows:
    • For pre-closure of deposits obtained at card rates of interest irrespective of the amount of deposit Penalty of 0.50% on the "Applicable Rate of Interest"
    For pre-closure of deposits obtained at preferential rates of interest Penalty of 1.00% on the "Applicable Rate of Interest"
  • "Applicable Rate of Interest" is the interest rate applicable to the period for which the deposit remained with the bank or contracted rate of interest whichever is lower.
  • However, no penalty is levied if the entire proceeds of the prematurely closed deposit (with or without interest portion) is reinvested in term deposit schemes for a longer period than the maturity date of the original deposit. The proceeds of the deposits may be reinvested either in the same name or in different names.
    • Interest rates on Special Deposit Schemes w.e.f 01.09.2008th, 2008
  • The following interest rates shall be applicable for the new deposit schemes irrespective of quantum of deposit
    • Scheme Rate of Interest (% p.a) Remarks
    - For General Public For Senior Citizens -
      KBL - Varsha 10.60 11 This deposit scheme is open for limited period only.
    Penalty Clause for Premature Closure of KBL -Varsha For All Premature Closure, 2.0% penalty shall be levied on the card rate of the interest applicable to the period for which the deposit remained with the Bank
    KBL - Tax Planner 9.50 10.25 Period of deposit is fixed for 5 years only, for deposits not exceeding Rs. 1 lakh in a year. Premature closure under this scheme is not allowed.
    Interest Rates on NRE Term Deposits w.e.f. September 1st, 2008
    1 year to less than 2 years 3.21
    2 years to less than 3 years 3.31
    3 years and upto 5 years 3.63
    Interest Rates on FCNR (B) Deposits w.e.f. September 1st, 2008
    Period Interest Rates per Annum
    Currency (% P.A.)
    USD GBP EUR CAD AUD JPY
    1 year only 2.46 5.27 4.58 2.92 6.72 0.39
    Above 1 year but less than 2 years 2.46 5.27 4.58 2.92 6.72 0.39
    2 years and above but less than 3 years 2.56 4.65 4.13 2.31 6.04 0.26
    3 years and above but less than 4 years 2.88 4.63 4.03 2.49 5.99 0.36
    4 years and above but less than 5 years 3.10 4.58 3.98 2.62 6.02 0.44
    5 years only 3.26 4.53 3.93 2.73 5.99 0.52
    Broken period interest on FCNR (B) Deposits w.e.f. April 1st, 2008
    Currency USD GBP EUR CAD AUD JPY
    Broken Period Interest 1.00% 2.00% 1.00% 1.00% 1.00% NIL
    Interest Rates for RFC (Maturity less than 1 year) w.e.f. 01.03.2008
    Savings Bank Deposits w.e.f. May 31st , 2003 (%)
    Domestic 3.5
    (*) Interest rates subject to change from time to time without prior notice.
    (#) DEPOSITS OF Rs.1.00 CRORE & ABOVE accepted at card rate