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. 20/10/2009)	Rate (For Senior Citizen Depositors w.e.f. 20/10/2009)
7 days to 14 days	3.00 % p.a.	3.00 % p.a.
15 days to 45 days	4.50 % p.a.	4.50 % p.a.
46 days to 90 days	5.50 % p.a.	5.50 % p.a.
91 days to 180 days	6.50 % p.a.	6.50 % p.a.
181 days to 364 days	6.50 % p.a.	6.50 % p.a.
12 months to 24 months	8.00 % p.a.	8.50 % p.a.
25 months to 36 months	8.00 % p.a.	8.50 % p.a.
37 months to 60 months	8.00 % p.a.	8.50 % p.a.
61 months to 120 months	7.00 % p.a.	7.00 % p.a.

Term Deposit under BAL BHAVISHYA SCHEME

Period	General Public	Senior Citizens
121 months and above	8.00 % p.a.	-

Notes :

1. In order to avail interest rate of 3% p.a. for 7 - 14 days, a minimum deposit of Rs. 5.00 lakh.
2. Penalty of 1% p.a. levied for premature withdrawal of deposits.
3. In case of Inter Bank deposits, the Managing Director may be authorized to negotiate interest rate based on prevailing market rates from time to time.
4. Additional rate of interest 0.50% will be given to fresh single deposit of Rs. 25 lakh & above received from Co-operative Housing Societies & Trusts.
5. Monthly interest to be paid on discounted basis to general depositors and the same shall not be applicable for Senior Citizens.

Further, please note that Preferential rate of interest will be given on the deposits of senior citizens in their single name only. Exceptionally, they may keep deposits jointly with their spouse, who may or may not be a senior citizen.

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'PMCB Kar-Mukt Yojna' Term Deposit Scheme

to claim benefit under Section 80C upto a maximum of Rs. 1 lakh) for the period of 5 years.

Type of Deposit	Rate (For General Depositors w.e.f. 20/10/2009)	Rate (For Senior Citizen Depositors w.e.f. 20/10/2009)
Re-investment with quarterly interest compounding	8.00 % p.a.	8.50 % p.a.
Fixed Deposit with Quarterly interest	-	8.50 % p.a.

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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 monitored by Libor rates:

Period	NRE w.e.f. 1st March, 2010 valid upto 31st March, 2010
12 months to less than 18 months	2.59 % p.a.
18 months to less than 24 months	2.71 % p.a.
24 months to less than 36 months	2.83 % p.a.
36 months only	3.44 % 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). Consequently, the revised rates of interest for NRE Term Deposits will be applicable to all NRE (Rupee) Term Deposits accepted/renewed w.e.f. from 01/03/2010.

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