Rate of interest on Savings Deposit with effect from 30/08/2023
| Sl. No. |
Type of Deposit |
Rate of interest % p.a. |
|
| 1. | SAVINGS BANK DEPOSIT | Balance below Rs.2.00 Lakh | Balance Rs.2.00 Lakh or above |
| a) |
Savings Bank Deposit (General) |
3.00% | 3.10% |
| b) |
Millennium S B Deposit |
3.00% | 3.10% |
| c) |
Savings Bank Deposit (Govt. / Panchayet) |
2.90% | 2.90% |
| d) |
Savings Bank Deposit – Society |
3.10% | 3.10% |
Rate of interest on Term Deposit with effect from 30/08/2023
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| Sl. No. |
Type of Deposit |
||||
| 2. | TERM DEPOSIT ( Fixed/Special Fixed / Recurring) |
Rate Of interest % @ p.a.
|
|||
| Periods | Less than Rs.1.00 Crore | Rs.1.00 Crore and above | |||
|
2(a) GENERAL PUBLIC |
2(b) SENIOR CITIZEN |
2(C) GENERAL PUBLIC |
2(d) SENIOR CITIZEN |
||
| i) | 7 to 14 days | 3.50 | 3.50 | 3.60 | 3.60 |
| ii) | 15 to 29 days | 3.50 | 3.50 | 3.60 | 3.60 |
| iii) | 30 to 45 days | 3.50 | 3.50 | 3.60 | 3.60 |
| iv) | 46 to 90 days | 4.50 | 4.50 | 4.60 | 4.60 |
| v) | 91 to 180 days | 5.00 | 5.00 | 5.10 | 5.10 |
| vi) | 181 to 364 days | 5.50 | 5.50 |
5.60 |
5.60 |
| vii) | 365 Days / 12 Months / 1 Year | 7.00 | 7.50 | 7.10 | 7.60 |
| viii) | Above 1year to less than 3 years | 6.75 | 7.25 | 6.85 | 7.35 |
| ix) | 3 Years to 5 Years | 6.60 | 7.10 | 6.70 | 7.20 |
| x) | Above 5 Years to 10 Years | 6.25 | 6.75 | 6.35 | 6.85 |
| xi) | 444 Days | 7.10 | 7.60 | 7.20 | 7.70 |
| 3 | MONTHLY INCOME SCHEME (MIS) – FIXED DEPOSIT
Period – Only For 3 years (Minimum of Rs. 5000/- and in multiple of Rs. 1000/-) Only for individuals. |
3(a) General %@p.a. |
3(b) Senior Citizen % @p.a. |
|||||
| 6.75 | 7.25 | |||||||
| 4 | STATUTORY RESERVE FUND, BAD DEBT FUND, RISK FUND, SPL. DEPOSIT (ARDR) & GUARANTEE FUND OF THE CO-OP. SOCIETIES AFFILIATED TO THIS BANK ALONG WITH EMPLOYEES’ SECURITY DEPOSIT, Deposit Guarantee Fund & Credit Guarantee Fund – Interest will be calculated on half yearly basis. | 7.00% | ||||||
| 5 | Special Deposit Scheme of 400 Days only for Individuals | Rate of Interest @% p.a. | ||||||
| TERMS and CONDITIONS | ||||||||
| Nature of the Deposit: Special Fixed Deposit for 400 Days
Only Individual Depositors (General and Senior Citizens) are allowed. Existing / Retired Employees are not eligible. Only Fresh Deposits will be accepted. Reinvestment by premature closure of existing deposits will not be allowed. Minimum Deposit Rs.50000.00 and in multiple of Rs.5000.00 Premature Closure will not be allowed. NON CALLABLE In case of extreme urgency advance @85% of face value will be allowed. This scheme will remain valid up to 14/11/2023 |
5 (a) General Public |
5 (b) Senior Citizen |
||||||
| Interest per Annum | Yield at Maturity | Interest per Annum | Yield at Maturity | |||||
| 7.25 | 8.20 | 7.50 | 8.49 | |||||
| 6 | Special Deposit Scheme for Women Customers only (VIDYASAGAR MAHILA SAMBRIDHI DEPOSIT SCHEME) | Rate of Interest @%p.a. | ||||||
| TERMS and CONDITIONS | ||||||||
| Nature of the Deposit: Special Fixed Deposit for 400 Days
Only Individual Female Depositors (General and Senior Citizens) are allowed. Existing / Retired Employees are not eligible Only Fresh Deposits will be accepted. Reinvestment by premature closure of existing deposits will not be allowed. Minimum Deposit Rs.50000.00 and in multiple of Rs.5000.00 Premature Closure will not be allowed. NON CALLABLE In case of extreme urgency advance @85% of face value will be allowed. This scheme will remain valid up to 14/11/2023 |
6 (a) General Female Public |
6 (b) Female Senior Citizen |
||||||
| Int. Per Annum | Yield at Maturity | Int. Per Annum | Yield at Maturity | |||||
| 7.30 | 8.25 | 7.60 | 8.60 | |||||
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OTHER CONDITION
- A) The existing employee / existing employee jointly with wife or husband or dependant / Retired Employee / Retired Employee jointly with wife or husband or dependant / spouse of the deceased employees with Nominee and this Bank’s Employees Organisation / Association, would be allowed additional 1% interest over the normal rate of interest on all types of Deposits ( No.1(a), 2(a), 2(b), 2(C), 2(d), 3(a), 3(b)) except special deposit Schemes. A declaration in this regard must be obtained that the amount deposited belongs to the concern Staff / Ex-Staff. In all joint cases, existing employee / retired employee will remain as 1st holder of the deposits.
- B) Deposit mobilising PACS who have followed / complied the order No. B & D / 335 dated 13/03/2015 of the Bank in regard to its deposit mobilisation will be allowed 40% additional interest on Term Deposits only in the form of Fixed & Special Fixed Deposits mentioned in Item No. 2(i) to 2(xi) (except Recurring Deposit) .
C) Additional 0.40% interest will be allowed to the PF A/c of Employees of the PACS affiliated under the Bank in the form of Fixed & Special Fixed Deposits (except Recurring Deposit) mentioned in Item No. 2(i) to 2(xi).
N.B. – 1) In case of MIS, Interest will be paid on monthly basis at discounting rate.
2) In respect of 2(b), 2(d), 3(b), 5(b) & 6(b) for Sr. Citizen (only above the age of sixty years) age proof documents be obtained from the concerned depositor(s) at the time of deposit. Senior Citizen benefits will be allowed only on Term Deposit above 364 days (except Recurring Deposit).
3) Proper KYC must be obtained for opening of TD A/c or the Linked SB A/c must be properly KYC Compliant.