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Rate of Interest
Interest on Saving Bank A/c (w.e.f. 1st Oct 2017)
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Scheme
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Rate
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If balance of the Saving Bank Account at end of the day is upto Rs. 1 Lakh
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4.00%
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| If daily balance of the Saving Bank Account at end of day is above Rs. 1 Lakh
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4.50%
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Interest on term deposits to be paid Monthly, Quarterly, Half-yearly, & re-invested by quaterly compounding.
Your Deposits are insured up to Rs. 1 Lakh per depositor by Deposits Insurance and Credit Guarantee Corporation, Government of India undertaking.
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| Rate of Interest on Term Deposits: |
Period
Maturity Brackets |
Rate
For General Public
W.e.f. 01/03/2019
|
Rate
For Senior Citizen Depositors W.e.f 01/03/2019 |
| |
Reinvestment and Fixed Deposit |
Reinvestment and Fixed Deposit |
| 7 days to 14 days* |
4.00% p.a. |
4.00% p.a. |
| 15 days to 60 days |
5.00% p.a. |
5.00% p.a. |
| 61 days to 90 days |
5.00% p.a. |
5.00% p.a. |
| 91 days to 180 days |
5.50% p.a. |
5.50% p.a. |
| 181 days to 270 days |
6.00% p.a. |
6.00% p.a. |
| 271 days to 12 Months |
7.00% p.a. |
7.00% p.a. |
| 13 to 17 months |
7.75% p.a |
8.00% p.a |
| 18 to 24 months |
8.00% p.a. |
8.25% p.a. |
| 25 to 36 months |
7.75% p.a. |
8.00% p.a. |
| 37 months to 60 months |
7.25% p.a. |
7.50% p.a. |
| 61 months to 120 months |
7.00% p.a. |
7.25% p.a. |
|
Notes :
- Penalty of 1% p.a. levied for premature withdrawal of deposits.
- Rate of interest of 4.00% on deposit for a period of 7 - 14 days will be given provided deposit is Rs. 5,00,000.00 and above.
- Bank's PLR is 14% (Rate of Interest on Loans and advances are linked to Bank's PLR )
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| Special Schemes |
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Special Schemes
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For General Depositors
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For Senior Citizen Depositors
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PMC 100
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8.00 % p.a..
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8.00 % p.a..
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PMC 31 (31 Months) (Monthly/Quarterly Interst Payout/Cumulative )
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8.25% p.a..
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8.50% p.a..
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BAL BHAVISHYA SCHEME
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7.00 % p.a..
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N.A
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FLEXIMONEY
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7.00% p.a.
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7.00% p.a.
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ANANT RECURRING DEPOSIT - 5 years
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7.00% p.a.
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N.A.
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ANANT RECURRING DEPOSIT - 10 years
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7.00% p.a.
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N.A.
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| 'PMCB Kar-Mukt Yojna' Term Deposit Scheme
To claim benefit under Section 80C up to a maximum of Rs. 1.50 Lakhs) for the period of 5 years.
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Scheme
|
General Public
|
Senior Citizen
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|
a) Reinvestment -
Quarterly Interest
|
7.25%
|
7.50%
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b)Fixed Deposit -
quarterly interest |
7.25%
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7.50%
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| Rate of Interests for NRI's (Non-resident Indians): |
| |
| NRE Deposits |
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Maturity Brackets
|
Revised Rate of Interest w.e.f. 10/09/2018
|
| Above 12 months to 36 months |
7.75% |
| 37 months to 60 months |
7.25% |
| 61 months to 120 months |
7.00% |
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* Interest payouts on Fixed Deposits are on quarterly basis
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| NRO Deposits
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|
Maturity Brackets
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Revised Rate of Interest w.e.f. 10/09/2018
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| 7 days to 14 days* |
4.00% p.a.
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| 15 days to 60 days |
5.00% p.a. |
| 61 days to 90 days |
5.00% p.a. |
| 91 days to 180 days |
5.50% p.a.
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| 181 days to 270 days |
6.00% p.a. |
| 271 days to 12 months |
7.00% p.a. |
| Above 12 months to 36months |
7.75%p.a.
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| 37 months to 60 months |
7.25% p.a.
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| 61 months to 120 months |
7.00% p.a. |
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| NRO KAR MUKT YOJANA TERM DEPOSIT SCHEME |
| To claim benefit under Section 80C up to a maximum of Rs. 1.50 Lakhs) for the period of 5 years. |
| |
Scheme
|
Period
|
Senior Citizen
|
| 1 |
NRO Kar Mukt Yojana
Reinvestment
|
60 Months
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7.25%
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| 2 |
NRO Kar Mukt Yojana
quarterly interest
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60 Months
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7.25%
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Accordingly the rates of interest on FCNR (B) Deposits and Resident Foreign Currency (RFC) Deposits w.e.f 01 st June 2019 are as under:
A)FCNR (B)Term Deposits with effect from 01/06/2019 (validupto 30/06/2019)are as under:
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| |
| FCNR (B) deposits |
| Currency |
1 years to less than 2 years |
2 years to less than 3 years |
3 years to less than 4 years |
4 years to less than 5 years |
5 years only |
| USD |
4.28 |
4.03 |
4.96 |
4.96 |
4.94 |
| GBP |
2.82 |
2.88 |
3.90 |
3.92 |
3.95 |
| EUR |
1.74 |
1.73 |
2.79 |
2.83 |
2.91 |
| JPY |
2.00 |
1.98 |
2.96 |
2.96 |
2.97 |
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| B) RFC Deposits with effect from 01.06.2019 (valid upto 30.06.2019) are as under: |
RFC Deposits |
| Currency |
1 year |
2 year |
3 year |
| USD |
4.28 |
4.03 |
4.96 |
| GBP |
2.82 |
2.88 |
3.90 |
| EUR |
1.74 |
1.73 |
2.79 |
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| 1% Penalty on Premature withdrawal will be applicable for both FCNR as well as RFC Deposits. |
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Swap Cost For Loan/Overdraft against FCNR( B) deposits: |
| Currency |
SWAP COST (%) |
|
| |
6 MONTHS |
1YEAR |
| USD |
1.95 |
3.98 |
| GBP |
2.76 |
5.51 |
| EUR |
3.44 |
6.90 |
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| Remarks: SWAP COST is subject to change as per Forex market fluctuations. |
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| FCNR deposit accounts and Loans/Overdrafts would be maintained at our "B" category Branches i.e Bhandup, Andheri Branch, Karol Baug - Delhi and Rajaji Nagar - Bengaluru.
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| The Rate of Interest on RFC Savings for all the three currencies i.e. USD, GBP and EURO based on prevailing LIBOR/EURIBOR is as under
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| Currency |
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| USD |
0.15% p.a. |
| GBP |
0.48% p.a. |
| EUR |
0.22% p.a. |
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