Term Deposit Interest Rates

Interest rates for deposits General Public **0.40% extra for Senior Citizens*** Introduction of a new slab for 7 days to 14 days at 6.35% and for 15 days to 30 days at 6.40% interest rate on domestic term deposits for above Rs.10 crores upto Rs.45.00 crores, applicable for two days only, i.e. September 29, 2023 to September 30, 2023.
Maturity Pattern	Interest Rate (% p.a) for Deposits below Rs.2 Crore	Interest Rate (% p.a) for Deposits Rs.2 Crore and upto Rs. 10 Crore	Interest Rate (% p.a) for Deposits Rs.2 Crore and upto Rs. 100 Crore
7 days to 45 days	3.50	3.50	--
46 days to 90 days	4.00	4.00	--
91 days to 179 days	5.25	6.75	6.75
180 days to below 1 year	5.25	6.90	6.90
1 year to 2 years	6.95	6.95	--
444 days - (FD & ACC)*	7.25	7.25	--
Above 2 Year to 5 years	6.50	6.50	--
Above 5 year to 10 years	5.80	5.80	--

Minor Deposit Scheme w.e.f. 03.10.2023
444 days - (FD & ACC)*	7.25%
7 days to 10 years	As applicable for Domestic Term Deposits
Above 10 years	5.50%

Interest rate for Senior Citizens:(FD & ACC Only)
0.40% extra over the general rate upto & inclusive of 5 crore only under Domestic* FD and ACC Schemes (Not for deposit under NRE/NRO/FCNR(B) accounts) for resident Senior Citizens only for tenure 1 to 5 years and 0.50% extra over the general rate for tenure 5 to 10 years w.e.f. 09.11.2020. Senior Citizen interest rate benefit for term deposits below 1 year is withdrawn w.e.f. June 06, 2019. Additional interest rate benefits on Senior Citizen (General Public & Staff) domestic term deposits of above ₹ 5.00 Crore is withdrawn w.e.f. 01.09.2019.
w.e.f. 03.10.2023
Maturity Pattern	Interest Rate (% p.a) for Deposits below Rs.2 Crore	Interest Rate (% p.a) for Deposits Rs.2 Crore and upto Rs. 5 Crore
444 days (FD& ACC)*	7.65	7.65
1 year to 2 Years	7.35	7.35
Above 2 Year to 5 years	6.90	6.90
Above 5 Year to 10 years	6.30	6.30

Interest rates for NRE Rupee Term Deposits w.e.f. 03.10.2023
Maturity Pattern	Interest Rate (% p.a) for Deposits below Rs.2 Crore	Interest Rate (% p.a) for Deposits Rs.2 Crore and upto Rs. 10 Crore
444 days - (FD & ACC)	7.25	7.25
1 Year to 2 Years	6.95	6.95
Above 2 Year to 5 Years	6.50	6.50
Above 5 Year to 10 Years	5.80	5.80

Premature Closure of both Domestic & NRE Deposits:

For Regular deposit schemes:

The penalty clause for premature closure of deposits on fresh deposits and renewals made is as follows:

(i) Term Deposit of below Rs.2 crore:

In the case of NRE rupee deposits, the minimum period of deposit is 1 year. Hence, no interest is payable on premature closure of NRE rupee deposits within 1 year.

(ii) Term Deposit of Rs 2 crore & above:

Penalty of 1% on applicable rate shall be levied for premature closure of single rupee term deposit of Rs 2 crore & above. For the purpose, applicable rate means interest rate applicable for the period the deposit has remained with the Bank or contracted rate, whichever is less.
However, if the deposit is prematurely closed for reinvestment, interest shall be paid at the rate applicable to the period for which the deposit remained with the bank without penalty for the amount reinvested, provided the reinvested deposit remains with the bank for a period longer than the remaining period of original deposit.
In the case of NRE rupee term deposits the minimum period of deposit is 1 year. Hence, no interest is payable on premature closure of NRE rupee deposits within 1 year.

The rate of interest applicable for premature closure of Term Deposits is as follows: w.e.f. 01.12.2022
For pre-closure of deposits of below Rs.2 crore.	Penalty of 0.50% on the “Applicable Rate of Interest”.
For pre-closure of deposits of Rs.2 crore & above.	Penalty of 1.00% on the “Applicable Rate of Interest”.

Scheme	Rate of Interest (% p.a)	Remarks	Scheme
-	For General Public	For Senior Citizens	-
KBL - Tax Planner	6.50	6.90	Period of deposit is fixed for 5 years only, for deposits not exceeding Rs. 1.5 lakhs in a year. Premature closure under this scheme is not allowed.

Interest rates on all Savings Bank accounts including Non Resident External [NRE] and Non Resident Ordinary [NRO] savings accounts w.e.f. 01.06.2020.
Type of account	Day-end Balance	Rate of Interest(% per annum)
All SB accounts including NRE & NRO accounts	Upto & including ₹ 1 Lakh	2.75
	Above ₹ 1 lakh up to ₹ 10 Lakh	2.75
	Above ₹ 10 lakh up to ₹ 50 Lakh	2.75
	₹ 50 lakh up to ₹ 100 Lakh	3.50
	Above ₹ 100 lakh	4.50

The Interest rates on FCNR (B) and RFC Deposits with effect from 01st August, 2023 are as under.

Period	USD	GBP	EUR	CAD	AUD	JPY	CHF	SEK	HKD	SGD
1 Year Only	5.50	5.35	3.00	4.30	3.50	0.15	0.05	0.15	0.33	0.42
Above 1 year but less than 2 Years	5.50	5.35	3.00	4.30	3.50	0.15	0.05	0.15	0.33	0.42
2 Years and above but less than 3 Years	4.65	3.25	1.50	4.10	3.50	0.16	NA	NA	0.72	0.84
3 Years and above but less than 4 years	4.20	2.84	1.50	3.30	3.25	0.12	NA	NA	0.74	0.78
4 Years and above but less than 5 Yrs	4.00	2.82	1.50	3.27	3.25	0.09	NA	NA	0.65	0.78
5 Years only	3.90	2.72	1.50	3.22	3.50	0.09	NA	NA	0.57	0.78

Interest Rates for RFC (Maturity less than 1 YEAR) w.e.f 01.08.2023 are as under.

Period	USD	GBP	EUR	CAD	AUD	JPY	CHF	SEK	HKD	SGD
Savings Bank	0.30	NIL	NIL	NIL	NIL	NIL	NIL	NIL	NIL	NIL
One Month to less than Three Months	0.50	NIL	NIL	NIL	NIL	NIL	NIL	NIL	NIL	NIL
Three Months to less than Six Months	0.75	NIL	NIL	NIL	NIL	NIL	NIL	NIL	NIL	NIL
Six Months but less than One Year	1.00	NIL	NIL	NIL	NIL	NIL	NIL	NIL	NIL	NIL

Broken period interest on FCNR (B) Deposits w.e.f from 01.08.2023.

Currency	USD	GBP	EUR	CAD	AUD	JPY	CHF	SEK	HKD	SGD
Broken Period Interest	0.10%	0.10%	NIL	0.10%	0.10%	NIL	NIL	NIL	NIL	NIL