Punjab & Maharashtra Co-operative Bank Ltd.

Domestic Term Deposit | NRI Account | Calculate your Interest

Interest on Savings Bank A/c @ 3.50 % p.a. (w.e.f 1st Mar, 2003)

Interest on term deposits to be paid Monthly, Quarterly, Half-yearly & Yearly.

Your Deposits are insured upto Rs. 1 Lakh per depositor by Deposits Insurance and Credit Guarantee Corporation, Government of India undertaking.

Rate of Interest on Term Deposits:

Period (For General customers as well as Senior Citizen customers)	Rate (For General Depositors w.e.f. 13/02/2008)	Rate (For Senior Citizen Depositors w.e.f. 13/02/2008)
30 days to 45 days	5.00 % p.a.	5.00 % p.a.
46 days to 90 days	5.50 % p.a.	5.50 % p.a.
91 days to 180 days	6.00 % p.a.	6.00 % p.a.
181 days to 270 days	6.50 % p.a.	6.50 % p.a.
271 days to 12 mths	7.00 % p.a.	7.00 % p.a.
Only 13 months	9.00 % p.a.	10.25 % p.a.
14 mths to 24 mths	9.00 % p.a.	9.00 % p.a.
25 mths to 36 mths	9.25 % p.a.	9.25 % p.a.
37 mths to 47 mths	9.50 % p.a.	9.75 % p.a.
Only 48 mths	9.75 % p.a.	10.00 % p.a.

Term Deposit under BAL BHAVISHYA SCHEME

Period	Rate
121 mths and above **	7.75 % p.a.

On the occasion of celebrations of 60 years of Independence of India, special interest rate is offered to Senior Citizens who have completed 60 years of age on FDSM deposits, w.e.f. 18/08/2007, with either Monthly interest Scheme OR Quarterly interest Scheme only.

Period of Deposit	Rate of Interest for Senior Citizens
60 mths (FDSM with MIC/QIC facility on simple rests)	10.25 % p.a.

**(for deposits held in the name of minor below the age of 8 years )

Notes :

1. No additional interest on NRE term deposits as the same are now monitored by Libor rates.
2. Monthly interest to be paid on discounted basis to general depositors and the same shall not be applicable for Senior Citizens.
3. Interest shall be paid on premature withdrawals of term deposits made with effect from 18/02/2007, at 1% below the rate applicable for the period deposit has remained with the Bank.

Special Short term Deposit Scheme (w.e.f. 19/05/07)
Minimum Amount : 5 lacs
Period : 7 days
Interest Rate : 4.00% p.a.

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'PMCB Kar-Mukt Yojna' Term Deposit Scheme

(wherein an individual or a Hindu undivided family can invest up to maximum amount of Rs.1 lakh per Financial Year for a period of five years, to claim benefits under section 80C of the Income Tax Act).

Type of Deposit	Rate of Interest (p.a.)
Under Re-investment with quarterly interest compounding	8.00 %
Under Fixed Deposit Scheme with Quarterly interest (applicable only for Senior Citizen)	9.00 %

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Rate of Interests for NRI's (Non-resident Indians):

A - ‘The Reserve Bank of India has instructed all Urban Co-operative Banks to phase out acceptance of Non-Resident Ordinary (NRO) deposits.’

B - Non-Resident External Rupee Deposit:

Period	NRE w.e.f. 1st June, 2008. Valid upto 30th June, 2008.
12 months to less than 18 months	3.16 % p.a.
18 months to less than 24 months	3.31 % p.a.
24 months to less than 36 months	3.46 % p.a.
36 months only	3.81 % p.a.

Interest Rate for NRE Saving Deposits accounts shall continue to be the rate applicable to the Domestic Saving Deposit Accounts i.e. 3.50 % p.a. (w.e.f. 18/11/2005).

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