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Deposit Schemes:

Scheme Minimum deposit Highlights Interest frequency

RAP90

(Rapid Accrual Plan – 90 day cycle)		 Rs. 5,000/-
  • With minimum of Rs. 5000.00
  • Earn interest on your deposits every ninety days with three automatic renewals for 90 days each, totalling 360 days
  • Interest for each 90 days period credited to your Savings Account or
  • added to the Principal at your option.

90 days

RAP30

(Rapid Accrual Plan – 30 day cycle)		 Rs. 5,000/-
  • With minimum of Rs. 5000.00
  • Earn interest on your deposits every thirty days with Eleven automatic renewals for 30 days each, totalling 360 days
  • Interest for each 30 days period credited to your Savings Account or
  • added to the Principal at your option.

30 days

QIRP

(Quarterly Interest Re-investment Plan)		 Rs. 1,000/-
  • Deposits minimum of Rs. 1,000.00
  • Collect accrued interest with Principal Deposit on maturity
  • Interest compounded at quarterly rests.

Quarterly

MIP

(Monthly Income Plan)		 Rs. 5,000/-
  • With Rs. 5000.00 or any higher amount in multiples of Rs. 500.00
  • Be assured of an fixed income every month to meet your recurring expenses.

Monthly

RD

(Recurring Deposit)		 Rs. 100/-
  • Deposits of Rs. 100.00 each month or any higher amount in multiples of Rs. 100.00
  • Receive the total Deposit Amount plus interest on maturity

Quarterly

FD

(Fixed Deposit)		 Rs. 500/-
  • With Rs. 500.00 or any higher amount in multiples of Rs. 100.00

Quarterly

FD365

(365 Days Fixed Deposit Scheme) 		Rs. 10000/-
  • With minimum Rs. 10000.00 or any higher amount
  • Rate of interest 8.50% p.a. and an additional 0.50% over interest rates to Senior Citizens only.

Quarterly

Interest Rates

 

Savings Bank Deposits w.e.f. April 1, 2003

Domestic Savings Bank Deposits               4.00%

Non-Resident (Ordinary) Savings Account   4.00%

Non-Resident (External - R) Savings Account -    4.00% 

 

Term Deposits w.e.f. October 15, 2009

 

RAP30                                       5.00%

 

RAP90                                       8.00%

 

Other Term Deposits (New Slabs)

 

Period of Deposit                      Percentage

30 days upto 6 months                  5.00%

Above 6 months upto 1 year           6.50%

Above 1 year upto 2 years              7.00%

Above 2 years upto 5 years            7.00%

 

NRE Term Deposits  - (with effect from December 1, 2009).

 

Period of Deposit                      Percentage

1 year (12 months)                       2.80%

Above 1 year upto 2 years             2.80%

Above 2 years upto 3 years           3.30%

 

 

Current Accounts                  NIL

 

 

The bank will not accept deposits beyond 5 years maturity.

Additional 0.50% (half percent) over the interest rates on term deposits for 1 year, RAP90 and FD 365 to Senior Citizens and Single Bulk deposit of Rs. 15 lakhs and above.