Interest Rates
Public Deposit Scheme
Interest rates effective from 15/07/2020 on Public Deposits upto ₹ 20 CRORES
| TERM | INTEREST RATE P.A. FOR MONTHLY OPTION | INTEREST RATE P.A. FOR YEARLY OPTION | ON MATURITY UNDER CUMULATIVE SCHEME |
|---|---|---|---|
| Non-Cumulative Deposits | Cumulative & Non-Cumulative Deposits | ₹ 20,000/- will Become | |
| 1 YEAR | 5.90% | 6.00% | ₹ 21,200/- |
| 18 MONTHS | 5.90% | 6.00% | ₹ 21,836/- |
| 2 YEARS | 5.90% | 6.00% | ₹ 22,472/- |
| 3 YEARS | 6.00% | 6.10% | ₹ 23,888/- |
| 5 YEARS | 6.00% | 6.10% | ₹ 26,891/- |
| Other Details : | Monthly Option | Yearly Option |
|---|---|---|
| Minimum Amount of Deposit | ₹ 2,00,000/- | ₹ 20,000/- |
| Additional Deposit in multiples of | ₹ 10,000/- | ₹ 1,000/- |
| Interest will be paid on Non-Cumulative Scheme | 1st day of the Month & on 31st March for the month of March | On 31st March. |
| Interest will be compounded | -- | Annually on Cumulative Deposits |
Senior Citizens : Additional interest @ 0.25% p.a. (for deposits of ₹ 20,000/- & above but upto ₹ 20 Crores) on all tenors.
Interest rates effective from 15/07/2020 on Public Deposits above ₹ 20 CRORES
| TERM | INTEREST RATE P.A. FOR MONTHLY OPTION | INTEREST RATE P.A. FOR YEARLY OPTION | ON MATURITY UNDER CUMULATIVE SCHEME |
|---|---|---|---|
| Non Cumulative Deposits | Cumulative & Non Cumulative Deposits | ₹ 200001000/- will become | |
| 1 YEAR | 5.50% | 5.60% | ₹ 21,12,01,056/- |
| 18 MONTHS | 5.50% | 5.60% | ₹ 21,71,14,686/- |
| 2 YEARS | 5.50% | 5.60% | ₹ 22,30,28,315/- |
| 3 YEARS | 5.60% | 5.70% | ₹ 23,61,87,620/- |
| 5 YEARS | 5.60% | 5.70% | ₹ 26,38,80,382/- |
Interest rates are subject to change and rate applicable will be the rate prevalent on the date of credit of cheque/Transfer in company's Bank Account.
Corporate Deposit Scheme
Interest rates effective from 15.07.2020 on Corporate Deposits upto ₹ 20 CRORES*
| TERM | INTEREST RATE P.A. FOR YEARLY OPTION | ON MATURITY UNDER CUMULATIVE SCHEME |
|---|---|---|
| Cumulative & Non Cumulative Deposits | ₹ 20000/-will become | |
| 1 YEAR | 6.00% | ₹ 21,200/- |
| 18 MONTHS | 6.00% | ₹ 21,836/- |
| 2 YEARS | 6.00% | ₹ 22,472/- |
| 3 YEARS | 6.10% | ₹ 23,888/- |
| 5 YEARS | 6.10% | ₹ 26,891/- |
*FOR RATE OF INTEREST ON DEPOSITS OF ABOVE ₹ 20 CRORES: PLEASE CONTACT OUR CORPORATE OFFICE.
If the total Deposits received from single deposit holder/s within a period of one calendar month exceeds ₹ 20 Crores it shall be treated as single deposit and the interest rate shall be the rate applicable for deposits exceeding ₹ 20 Crores.
