Interest Rate
Savings Account
| Savings Account Slab - W.E.F 01-August-2023 | Interest Rate (% p.a.) |
|---|---|
| Upto and Including 1 Lakh | 3.51% |
| Above 1 Lakh and Including 2 Lakhs | 5.11% |
| Above 2 Lakh and Including 5 Lakhs | 7.11% |
| Above 5 lakhs and including 25 lakhs | 7.25% |
| Above 25 lakhs and including 50 lakhs | 7.25% |
| Above 50 lakhs and including 2 Cr | 7.50% |
| Above 2 Cr and Including 10 Cr | 7.00% |
| Above 10 Cr and Including 15 Cr | 6.50% |
| Above 15 Cr and Including 20 Cr | 5.00% |
| Above 20 Cr and Including 25 Cr | 4.00% |
| Above 25 Cr and Including 30 Cr | 3.25% |
| Above 30 Cr | 3.00% |
| Terms and conditions
1. Please note that the interest rates mentioned are applicable for the incremental balances that are present corresponding to amount slab mentioned:
2. For Example, if Total balance is INR 31 crore. Then following grid will be applicable:
3. For balance INR 1 TO INR 1,00,000 : 3.51%
4. For incremental balances above INR 1 Lakh to INR 2 lakh: 5.11%
5. For incremental balances above INR 2 Lakh to INR 5 lakh: 7.11%
6. For incremental balances above INR 5 Lakh to INR 50 lakh : 7.25%
7. For incremental balances above INR 50 Lakh to INR 2 Crore : 7.50%
8. For incremental balances above INR 2 Crore to INR 10 Crore : 7.00%
9. For incremental balances above INR 10 Crore to INR 15 Crore : 6.50%
10. For incremental balances above INR 15 Crore to INR 20 Crore : 5.00%
11. For incremental balances above INR 20 Crore to INR 25 Crore : 4.00%
12. For incremental balances above INR 25 Crore to INR 30 Crore : 3.25%
13. Above INR 30 Crore : 3%
14. Please note that all the above stated savings account interest rates are subject to change without prior notice.
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Marginal Cost of Funds based Lending Rates (MCLR)
The Marginal Cost of Funds based Lending Rate (MCLR) with effect from November 15, 2023 for various tenors are mentioned below:
| Tenure | MCLR Rates |
|---|---|
| Overnight | 11.95% |
| 1 Month | 12.30% |
| 3 Months | 12.10% |
| 6 Months | 12.35% |
| 1 Year | 12.40% |
| 2 Years | 12.55% |
External benchmark rates effective from 1st November 2023 is as under.
| Benchmark | Rate |
|---|---|
| 10 year Government of India Securities Yield * |
7.36% |
| 12 months Treasury Bill rate # | 7.04% |
*Arrived based on 3 months’ average yield of 10-year Government of India bond curve
# Arrived based on 3 months’ average yield of 12 months Treasury Bill curve
Resident Fixed Deposit (less than ₹2 Crores) - With Premature Withdrawal Facility
| Tenure | General Public (W.E.F 28-October-2023) | General Public Effective Yield (W.E.F 28-October-2023) | Senior Citizen Rate (W.E.F 28-October-2023) | Senior Citizen - Effective Yield (W.E.F 28-October-2023) |
|---|---|---|---|---|
| 7 days - 14 days | 3.00% | 3.00% | 3.60% | 3.60% |
| 15 days - 30 days | 4.50% | 4.50% | 5.10% | 5.10% |
| 31 days - 45 days | 5.25% | 5.25% | 5.85% | 5.85% |
| 46 days - 90 days | 5.75% | 5.75% | 6.35% | 6.35% |
| 91 days - 180 days | 6.25% | 6.25% | 6.85% | 6.85% |
| 181 days - 365 days | 7.00% | 7.19% | 7.60% | 7.82% |
| 12 months - 15 months | 7.65% | 7.87% | 8.25% | 8.51% |
| 15 Months 1 day-499 days | 7.85% | 8.08% | 8.45% | 8.72% |
| 500 days | 8.21% | 8.47% | 8.81% | 9.11% |
| 501 days - 18 months | 7.85% | 8.08% | 8.45% | 8.72% |
| 18 months 1 day - 21 months | 8.11% | 8.36% | 8.71% | 9.00% |
| 21 months 1 day - 24 months | 8.11% | 8.36% | 8.71% | 9.00% |
| 24 months 1 day- 749 days | 8.15% | 8.40% | 8.75% | 9.04% |
| 750 days | 8.61% | 8.89% | 9.21% | 9.53% |
| 751 days - 30 months | 8.15% | 8.40% | 8.75% | 9.04% |
| 30 months 1 day to 999 days | 8.11% | 8.36% | 8.71% | 9.00% |
| 1000 days | 8.41% | 8.68% | 9.01% | 9.32% |
| 1001 days- 36 months | 8.11% | 8.36% | 8.71% | 9.00% |
| 36 months 1 day - 42 months | 8.25% | 8.51% | 8.85% | 9.15% |
| 42 months 1 day - 48 months | 7.50% | 7.71% | 8.10% | 8.35% |
| 48 months 1 day - 59 months | 7.50% | 7.71% | 8.10% | 8.35% |
| 59 months 1 day - 66 months | 8.00% | 8.24% | 8.60% | 8.88% |
| 66 months 1 day - 84 months | 7.00% | 7.19% | 7.60% | 7.82% |
| ** A senior citizen is defined as a person above the age of 60 years. In case of Joint account holders where one of the account holder is a Senior Citizen, kindly note that Senior Citizen Term Deposit Interest Rate will only be applicable provided the Senior Citizen is the ‘First holder’ on the said term deposit. |
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Note:
1. The Fixed Deposit has premature withdrawal facility i.e. the Fixed Deposit can be closed by the depositor before expiry of the term of such deposit.
2. Acceptance of deposits of ₹2 Crores and above is at the discretion of the Bank.
3. Penalty interest rate applies as per terms and conditions
The above rates are subject to revision from time to time.
For Interest Calculation Methodology, please click here
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Fixed Deposit (INR 2 crores and above)
Please contact branch for fixed deposit (INR 2 crores & above) interest rates
Resident Fixed Deposit (₹1 Crore to less than ₹2 Crores) - Without Premature Withdrawal Facility
Please contact branch for fixed deposit (INR 1 - 2 crores) interest rates
Non-Resident Fixed Deposit (₹1 Crore to less than ₹2 Crores) - Without Premature Withdrawal Facility
Please contact branch for fixed deposit (INR 1 - 2 crores) interest rates
Non-Resident Fixed Deposit
NRE
| Tenure | NRE (W.E.F 28-October-2023) | NRE - Effective Yield (W.E.F 28-October-2023) |
|---|---|---|
| 7 days - 14 days | NA | NA |
| 15 days - 30 days | NA | NA |
| 31 days - 45 days | NA | NA |
| 46 days - 90 days | NA | NA |
| 91 days - 180 days | NA | NA |
| 181 days - 365 days | NA | NA |
| 12 months - 15 months | 7.65% | 7.87% |
| 15 Months 1 day-499 days | 7.85% | 8.08% |
| 500 days | 8.21% | 8.47% |
| 501 days - 18 months | 7.85% | 8.08% |
| 18 months 1 day - 21 months | 8.11% | 8.36% |
| 21 months 1 day - 24 months | 8.11% | 8.36% |
| 24 months 1 day- 749 days | 8.15% | 8.40% |
| 750 days | 8.61% | 8.89% |
| 751 days - 30 months | 8.15% | 8.40% |
| 30 months 1 day to 999 days | 8.11% | 8.36% |
| 1000 days | 8.41% | 8.68% |
| 1001 days- 36 months | 8.11% | 8.36% |
| 36 months 1 day - 42 months | 8.25% | 8.51% |
| 42 months 1 day - 48 months | 7.50% | 7.71% |
| 48 months 1 day - 59 months | 7.50% | 7.71% |
| 59 months 1 day - 60 months | 8.00% | 8.24% |
NRO
| Tenure | NRO (W.E.F 28-October-2023) | NRO Effective Yield (W.E.F 28-October-2023) |
|---|---|---|
| 7 days - 14 days | 3.00% | 3.00% |
| 15 days - 30 days | 4.50% | 4.50% |
| 31 days - 45 days | 5.25% | 5.25% |
| 46 days - 90 days | 5.75% | 5.75% |
| 91 days - 180 days | 6.25% | 6.25% |
| 181 days - 365 days | 7.00% | 7.19% |
| 12 months - 15 months | 7.65% | 7.87% |
| 15 Months 1 day-499 days | 7.85% | 8.08% |
| 500 days | 8.21% | 8.47% |
| 501 days - 18 months | 7.85% | 8.08% |
| 18 months 1 day - 21 months | 8.11% | 8.36% |
| 21 months 1 day - 24 months | 8.11% | 8.36% |
| 24 months 1 day- 749 days | 8.15% | 8.40% |
| 750 days | 8.61% | 8.89% |
| 751 days - 30 months | 8.15% | 8.40% |
| 30 months 1 day to 999 days | 8.11% | 8.36% |
| 1000 days | 8.41% | 8.68% |
| 1001 days- 36 months | 8.11% | 8.36% |
| 36 months 1 day - 42 months | 8.25% | 8.51% |
| 42 months 1 day - 48 months | 7.50% | 7.71% |
| 48 months 1 day - 59 months | 7.50% | 7.71% |
| 59 months 1 day - 60 months | 8.00% | 8.24% |
|
**NRO deposit will be eligible for values less than ₹2 Crores only.
** NRE deposit will be eligible for values up to ₹10 Crores only. |
|
Terms and Conditions
1. Interest rates are subject to change from time to time.
2. No preferential interest rates for senior citizen.
3. Penalty interest rate applies as per terms and conditions
|
Recurring Deposit (less than ₹2 Crores)
| Tenure | Interest Rate (W.E.F 28-October-2023) |
|---|---|
| 7 days - 14 days | 3.00% |
| 15 days - 30 days | 4.50% |
| 31 days - 45 days | 5.25% |
| 46 days - 90 days | 5.75% |
| 91 days - 180 days | 6.25% |
| 181 days - 364 days | 7.00% |
| 12 months - 15 months | 7.65% |
| 15 Months 1 day to 18 Months | 7.85% |
| 18 months 1 day - 21 months | 8.11% |
| 21 months 1 day - 24 months | 8.11% |
| 24 months 1 day- 30 Months | 8.15% |
| 30 months 1 day to 36 Months | 8.11% |
| 36 months 1 day - 42 months | 8.25% |
| 42 months 1 day - 48 months | 7.50% |
| 48 months 1 day - 59 months | 7.50% |
| 59 months 1 day - 66 months | 8.00% |
| 66 months 1 day - 84 months | 7.00% |
|
Terms and Conditions
1. Penalty interest rate applies as per terms and conditions
|
|
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Note:
Minimum tenure for Recurring Deposit is 6 months and maximum tenure is 60 months.
|
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Affordable Housing Loan
| Segment | Effective Rate Of Interest* (p.a.) linked to External Benchmark Rate** |
|---|---|
| Salaried | 9.99% onwards |
| Self Employed | 10.99% onwards |
*Fixed for 37 months and floating thereafter
** Floating rates are linked to 10-year Government of India Securities Yield (G-Sec) external benchmark rate. G Sec benchmark rate is arrived based on 3 months’ average yield of 10-year Government of India bond curve
Rates offered to customer during the period July'2023 to Sep'2023
| Type of Interest | Rate |
|---|---|
| Min. Rate of Interest | 9.99% |
| Max. Rate of Interest | 18.50% |
| Mean Interest Rate | 14.79% |
| Annual Percentage Rate (APR) | 14.97% |
Loan Against Gold
Rates offered to the customers during the period July 2023 to September 2023
| Interest Rates | Range |
|---|---|
| Min. Rate of Interest | 14.00% |
| Max. Rate of Interest | 23.00% |
| Mean Interest Rate | 17.07% |
| Annual Percentage Rate (APR) | 18.65% |
Micro Loans
Rates offered to customer during July 2023 to September 2023.
| Interest Rates | Range |
|---|---|
| Min. Rate of Interest | 25.25% |
| Max. Rate of Interest | 26.00% |
| Mean Interest Rate | 25.40% |
| Annual Percentage Rate (APR) | 26.96% |
Loan Against Property
| Loan Amount | ROI |
|---|---|
| 1.5 Lakhs - 50 Lakhs | 13.5% Onwards |
Rates offered to customer during the period July'2023 to Sep'2023
| Interest Rates | Range |
|---|---|
| Min. Rate of Interest | 13.50% |
| Max. Rate of Interest | 24.00% |
| Mean Interest Rate | 19.51% |
| Annual Percentage Rate (APR) | 19.73% |
| Over Draft Against Property |
|---|
Rates offered to customer during the period July'2023 to Sep'2023
| Interest Rates | Range |
|---|---|
| Min. Rate of Interest | 13.10% |
| Max. Rate of Interest | 21.00% |
| Mean Interest Rate | 16.38% |
| Annual Percentage Rate (APR) | 17.37% |
Institutional Finance
| Loan Amount | Effective ROI%* (P.A.) linked to External Benchmark rate** |
|---|---|
| 1 Crore - 15 Crores | 11% onwards |
Rates offered to customer during the period July ’23 to Sep’23
| Interest Rates | Effective ROI%* (P.A.) linked to External Benchmark rate** |
|---|---|
| Minimum Rate of Interest | 12.25% |
| Maximum Rate of Interest | 13.50% |
| Mean Rate of Interest | 12.75% |
| Annual Percentage Rate (APR) | 13.01% |
* Floating - for up to 36 months loan tenor. Fixed - for greater than 36 months loan tenor.
** Floating rate loans are linked to 10-year Government of India Securities' Yield (G-sec) external benchmark. This G-Sec benchmark rate is arrived based on 3 months' daily average yield of the 10-year Government of India bond curve.
Supply Chain Finance
| Interest Rates | ROI |
|---|---|
| Minimum Interest Rate | 11% p.a. |
| Maximum Interest Rate | 20% p.a. |
| Penal Interest Rate | Up to 3% per month |
| Credit Period | 30 – 120 days |