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Last Updated on: 15/07/2024
Domestic Rates
Home >> Personal Banking >> Investments & Deposits >> Term Deposits >> Rates at A Glance >> Domestic, NRO Deposits & NRE Deposits
| Period of Deposit | Existing Rates for Deposits below Rs. 3 Crore w.e.f. 08.06.2024 (in %) | Revised Rates for Deposits below Rs. 3 Crore w.e.f. 15.07.2024 (in %) |
7-14 Days* | 4.00 | 4.00 |
15-29 Days | 4.50 | 4.50 |
30-45 Days | 4.50 | 4.50 |
46-60 Days | 4.50 | 4.50 |
61-90 Days | 4.25 | 4.25 |
91-120 Days | 4.75 | 4.75 |
121-179 Days | 4.25 | 4.25 |
180-269 Days | 5.75 | 5.75 |
270 Days to < 1 Year | 5.75 | 5.75 |
1 Year to < 2 Years | 6.90 | 7.10 |
444 Days | 7.30 | 7.30 |
2 Years to < 3 Years | 6.80 | 6.80 |
3 Years and Above | 6.50 | 6.50 |
* Minimum Amount Rs. 1.00 Lakh
Domestic Non-Callable Retail Term Deposits:
| Period of Deposit | For Non-Callable Deposits# (below Rs. 3 Crore) w.e.f 15.07.2024 (in%) |
91-120 Days | 4.85 |
121-179 Days | 4.35 |
180-269 Days | 5.85 |
270 Days to < 1 Year | 5.85 |
1 Year to < 2 Years (Excepy 444 Days) | 7.20 |
#Minimum Amount is Rs. 1,00,01,000/- & Maximum Amount is less than Rs. 3.00 Crores
- Interest Rate for IOB Tax Saver Deposit will remain unchanged at 6.50%.
- For Senior Citizens (aged 60 Years and above), Additional interest rate of 0.50% and for Super Senior Citizens (aged 80 years and above), Additional interest rate of 0.75% continues.
- For Retired Staff, Applicable interest rate will continue to be governed by the decision taken by ALCO in its meeting No-04/2019-20 held on 08.07.2019.
The Revised Interest Rates on NRE Term Deposits w.e.f 15.07.2024 are as Follows:
| Period of Deposit | Existing Rates for Deposits below Rs. 3.00 Crores w.e.f 08.06.2024 (in %) | Revised Rates for Deposits below Rs. 3.00 Crores w.e.f 15.07.2024 (in %) |
1 Year to < 2 Years (Except 444 Days) | 6.90 | 7.10 |
444 Days | 7.30 | 7.30 |
2 Years to < 3 Years | 6.80 | 6.80 |
3 Years and Above | 6.50 | 6.50 |
For Deposits of Rs. 3 Crore and Above
For Deposits of Rs. 3 Crore and above (Bulk Deposits), Branch has to take prior permission for rate of interest from Treasury Department, Central Office.
Fore Closure Charges
| Description | Fore Closure Charges |
Retail Term Deposits upto Rs. 15000/- | NIL |
Retail Term Deposits of Rs. 15,001/- up to Rs. 5 Lakh | 0.50% |
Retail Term Deposits Above Rs. 5 Lakh but Below Rs. 3 Crore | 1.00% |
Bulk Deposits of Rs. 3 Crore & Above | 1.00% |
