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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. 13/09/2019
|
Rate
For Senior Citizen Depositors W.e.f 13/09/2019 |
| |
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 36 months |
7.50% p.a |
7.75% 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. |
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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 24 (24 Months) (Monthly/Quarterly Interst Payout/Cumulative)
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8.00% p.a..
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8.25% 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
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General Public
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Senior Citizen
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a) Reinvestment -
Quarterly Interest
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7.25%
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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
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Revised Rate of Interest w.e.f. 13/09/2019
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| 13 months to 36 months |
7.50% p.a. |
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* Interest payouts on Fixed Deposits are on quarterly basis
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| NRO Deposits
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|
Period Maturity Brackets
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Revised Rate of Interest w.e.f. 13/09/2019
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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. |
| 13 to 36 months |
7.50%p.a.
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| 37 months to 60 months
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7.25% p.a. |
| 61 months to 120 months
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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. |
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Scheme
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Period
|
Senior Citizen
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| 1 |
NRO Kar Mukt Yojana
Reinvestment
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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 September 2019 are as under:
A)FCNR (B)Term Deposits with effect from 01/09/2019 (validupto 30/09/2019)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 |
3.80 |
3.54 |
4.42 |
4.37 |
4.34 |
| GBP |
2.67 |
2.65 |
3.62 |
3.60 |
3.59 |
| EUR |
1.51 |
1.45 |
2.44 |
2.45 |
2.48 |
| JPY |
1.93 |
1.88 |
2.86 |
2.84 |
2.84 |
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| B) RFC Deposits with effect from 01.09.2019 (valid upto 30.09.2019) are as under: |
RFC Deposits |
| Currency |
1 year |
2 year |
3 year |
| USD |
3.80 |
3.54 |
4.42 |
| GBP |
2.67 |
2.65 |
3.62 |
| EUR |
1.51 |
1.45 |
2.44 |
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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 (%) |
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| |
6 MONTHS |
1YEAR |
| USD |
4.15 |
4.20 |
| GBP |
5.58 |
5.45 |
| EUR |
6.97 |
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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