Resident Indian Fixed Deposit Interest Rates (with effect from 21st December, 2022)
Tenure
Deposit Interest Rate (percent per annum)
Effective Annualised Yield (% per annum) *
Rate for Senior Citizens (% per annum)
Effective Annualised Yield (% per annum) *
Single Deposit of less than INR 2 Cr.
7 days to 14 days
3.75%
3.75%
4.25%
4.25%
15 days to 45 days
3.75%
3.75%
4.25%
4.25%
46 days to 90 days
4.00%
4.00%
4.50%
4.50%
91 days to less than 6 months
4.75%
4.75%
5.25%
5.25%
6 months to less than 12 months
6.25%
6.34%
6.75%
6.86%
12 months
7.25%
7.45%
7.75%
7.98%
More than 12 months to less than 15 months
7.25%
7.45%
7.75%
7.98%
15 months to less than 18 months
7.25%
7.52%
7.75%
8.06%
18 months to less than 700 days
7.50%
7.94%
8.00%
8.50%
700 days
7.50%
7.94%
8.00%
8.50%
More than 700 days to less than 36 months
7.85%
8.67%
8.35%
9.28%
36 months
7.85%
8.76%
8.35%
9.38%
More than 36 months to 60 months
7.60%
9.14%
8.10%
9.86%
More than 60 months to 120 months
7.60%
11.23%
8.10%
12.30%
Interest Rates for Domestic NON CALLABLE RETAIL Deposits (With effect from 21stDecember, 2022)
Tenure
Deposit NON CALLABLE Interest rate (%per annum) for single deposit of INR 25 Lakh to less than INR 2 Cr.
Non – Callable
12 months
7.75%
More than 12 months to less than 15 months
7.75%
15 months to less than 18 months
8.00%
18 months to less than 700 days
8.00%
700 days
8.00%
More than 700 days to less than 36 months
8.05%
36 months
8.05%
More than 36 months to 60 Months
8.05%
Interest Rates for Domestic / NRO / NRE** Bulk Deposits (with effect from 10th October, 2022)
Tenure
Deposit Interest rate (%per annum) for single deposit of INR2 Cr. to less than INR 5 Cr.
Regular
Non – Callable
7 days to 14 days
3.00%
–
15 days to 30 days
3.25%
–
31 days to 45 days
3.50%
–
46 days to 60 days
3.75%
–
61 days to 89 days
4.10%
–
90 days
6.50%
–
91 days to 119 days
6.75%
6.85%
120 days
6.75%
6.85%
121 days to less than 6 months
6.80%
6.95%
6 months to less than 7 months
6.80%
6.95%
7 months to less than 9 months
6.90%
7.05%
9 months to less than 12 months
7.00%
7.15%
12 months
7.10%
7.15%
More than 12 months to less than 15 months
7.10%
7.15%
15 months to less than 18 months
7.10%
7.15%
18 months to less than 24 months
7.10%
7.15%
24 months
7.10%
7.15%
More than 24 months to 36 months
7.10%
7.15%
More than 36 months to 60 Months
6.50%
6.65%
More than 60 months to 120 Months
6.50%
–
Interest Rates for Domestic / NRO / NRE** Bulk Deposits (with effect from 26th December, 2022)
Tenure
Deposit Interest rate (%per annum) for single deposit of INR5 Cr. to less than INR 10 Cr.)
Regular
Non – Callable
7 days to 14 days
3.00%
–
15 days to 30 days
3.25%
–
31 days to 45 days
3.50%
–
46 days to 60 days
3.75%
–
61 days to 89 days
4.10%
–
90 days
6.50%
–
91 days to 119 days
6.75%
6.85%
120 days
6.75%
6.85%
121 days to less than 6 months
6.80%
6.95%
6 months to less than 7 months
6.80%
6.95%
7 months to less than 9 months
6.90%
7.05%
9 months to less than 12 months
7.00%
7.15%
12 months
8.10%
8.20%
More than 12 months to less than 15 months
8.10%
8.20%
15 months to less than 18 months
8.10%
8.20%
18 months to less than 24 months
8.10%
8.20%
24 months
8.10%
8.20%
More than 24 months to 36 months
8.10%
8.20%
More than 36 months to 60 months
6.50%
6.65%
More than 60 months to 120 Months
6.50%
–
Interest Rates for Domestic / NRO / NRE** Bulk Deposits (with effect from 26th December, 2022)
Tenure
Deposit Interest rate (%per annum) for single deposit of INR 10 Cr. and above)
Regular
Non – Callable
7 days to 14 days
3.00%
–
15 days to 30 days
3.25%
–
31 days to 45 days
3.50%
–
46 days to 60 days
3.75%
–
61 days to 89 days
4.10%
–
90 days
6.50%
–
91 days to 119 days
6.75%
6.85%
120 days
6.75%
6.85%
121 days to less than 6 months
6.80%
6.95%
6 months to less than 7 months
6.80%
6.95%
7 months to less than 9 months
6.90%
7.05%
9 months to less than 12 months
7.00%
7.15%
12 months
8.10%
8.20%
More than 12 months to less than15 months
8.10%
8.20%
15 Months to less than 18 months
8.10%
8.20%
18 months to less than 24 months
8.10%
8.20%
24 months
8.10%
8.20%
More than 24 months to 36 months
8.10%
8.20%
More than 36 months to 60 months
6.50%
6.65%
More than 60 months to 120 Months
6.50%
–
Penalty for Premature Closure of Resident Deposits
Size of Deposit
7 – 13 days
14 – 29 days
30 days & above
Less than INR 2 crore
No Interest
0.50% less than the applicable rate
0.50% less than the applicable rate
INR 2 crore and above
No Interest
No Interest
2% less than the applicable rate
Important Terms and Conditions
Rates of Interest are subject to revision without notice
There is no additional benefit to NR Senior Citizen
Bank Treasury approval is required for “interest rate quotes and booking” for single deposit of Rs.2 Cr. and above
*Annualised yield is calculated on the assumption of quarterly compounding frequency and for highest tenure in each slab
**Minimum tenor for NRE fixed deposit is 12 months.
Non callable deposits cannot be closed by the depositor before expiry of the term of such deposit.
No additional rate of Interest for Senior Citizen is applicable on Bulk Fixed Deposits and Non Callable Retail Fixed Deposits
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