Interest Rates for Resident Term Deposits
We understand your preference for ‘Safety, Liquidity and Return', while choosing your bank. Hence we remain committed to ensure that your deposits with us earn handsome returns too, by way of interest. We are transparent in communicating the rates and charges of our bank on deposits. Please do visit this page often since these rates are subject to periodic revision. Resident Term Deposits interest rates are also applicable to Resident Cash Certificate, Federal Savings Fund, Federal Tax Savings Deposits and NRO Fixed Deposits
Interest rates for Resident Term Deposits effective from 21-09-2023 (Rates in % p.a)
| Period | Single Deposit Less than ₹200 Lakhs - General Public | Single Deposit Less than ₹200 Lakhs - Senior Citizen |
|---|---|---|
| 7 days to 29 days | 3.00% | 3.50% |
| 30 days to 45 days | 3.25% | 3.75% |
| 46 days to 60 days | 4.00% | 4.50% |
| 61 days to 119 days | 4.75% | 5.25% |
| 120 days to 180 days | 5.00% | 5.50% |
| 181 days to 270 days | 5.75% | 6.25% |
| 271 days to less than 1 year | 6.00% | 6.50% |
| 1 year to less than 13 months | 6.80% | 7.30% |
| 13 months to 21 months | 7.30% | 7.80% |
| Above 21 months to less than 2 years | 6.75% | 7.25% |
| 2 years to less than 3 years | 7.05% | 7.55% |
| 3 years to less than 5 years | 6.60% | 7.10% |
| 5 years and above | 6.60% | 7.25% |
Effective Annualized Rate of Return
| File name | Description | |
| HVD Web Interest 25.09.2023 | Interest rates for Resident & NRE Term Deposits of Rs.2 crore and above | (179.89) KB |
| File name | Description | |
| HVD NW Web Interest 25.09.2023 | Interest rates for Resident Term deposit (Non Withdrawable) of Rs 2 Crore and above | (151.8) KB |
Penalty for premature withdrawal of Rupee Term Deposits Opened/Renewed w.e.f 21.10.2022
1. Revised Premature withdrawal penalty structure for Rupee Term deposits
|
Period of Deposit* |
Penal Interest |
|
|
Single deposit of less than ₹2Crores |
Single deposit of ₹2Crores and above |
|
|
Up to and including 15 days |
0% |
1% |
|
Above 15 days |
1% |
1% |
*Period for which the deposit is maintained with the Bank, irrespective of the contracted tenor
2. Premature withdrawal penalty structure for Smart Deposit Scheme
|
Period of Deposit |
Penal Interest |
|
Up to and including 90 days |
0% |
|
Above 90 days |
1% |