Interest Rates
Public Deposit Scheme
Interest rates effective from 07/05/2020 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 | ₹ 10,000/- will Become | |
| 1 YEAR | 6.60% | 7.00% | ₹ 10,700/- |
| 18 MONTHS | 6.60% | 7.00% | ₹ 11,075/- |
| 2 YEARS | 6.60% | 7.00% | ₹ 11,449/- |
| 3 YEARS | 6.80% | 7.10% | ₹ 12,285/- |
| 5 YEARS | 6.90% | 7.10% | ₹ 14,091/- |
| 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 upto ₹ 20 Crores) on all tenors.
Interest rates effective from 07/05/2020 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 | 6.40% | 6.70% | ₹ 21,34,01,067.00 /- |
| 18 MONTHS | 6.40% | 6.70% | ₹ 22,05,50,003.00 /- |
| 2 YEARS | 6.40% | 6.70% | ₹ 22,76,98,938.00 /- |
| 3 YEARS | 6.45% | 6.75% | ₹ 24,32,96,476.00 /- |
| 5 YEARS | 6.45% | 6.75% | ₹ 27,72,50,020.00 /- |
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 07.05.2020 on Corporate Deposits upto ₹ 20 CRORES*
| TERM | INTEREST RATE P.A. FOR YEARLY OPTION | ON MATURITY UNDER CUMULATIVE SCHEME |
|---|---|---|
| Cumulative & Non Cumulative Deposits | ₹ 10000/-will become | |
| 1 YEAR | 7.00% | ₹ 10,700/- |
| 18 MONTHS | 7.00% | ₹ 11,075/- |
| 2 YEARS | 7.00% | ₹ 11,449/- |
| 3 YEARS | 7.10% | ₹ 12,285/- |
| 5 YEARS | 7.10% | ₹ 14,091/- |
*FOR CORPORATE DEPOSITS ABOVE RS 20 CRORES: PLEASE CONTACT OUR CORPORATE OFFICE FOR APPLICABLE RATES.
If the total Public Deposits received from single deposit holder/s within a period of one calendar month exceeds Rs. 20 Crores it shall be treated as single deposit and the interest rate shall be the rate applicable for deposits exceeding Rs. 20 Crores.
