Deposit Interest Rates
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Sr. No. Particulars Rate of Interest  
  Effective From 15.11.2019 Public Senior Citizen
Age >60 & <75
Super Senior Citizen
Age 75 and Above
Penal Rate of Interest for Premature withdrawal
   > 7 days to 14 days 4.00% 4.00% 4.00% 1% less than the appropriate rate.
   > 15 days to 45 days 4.00% 4.50% 4.75% 1% less than the appropriate rate.
   > From 46 days to 90 days 4.75% 5.25% 5.50 % 1% less than the appropriate rate
   > From 91 days to 180 days 5.50% 6.00% 6.25% 1% less than the appropriate rate.
   > From 181 days to 364 days 6.00% 6.50% 6.75% 1% less than the appropriate rate.
   > From 1 year to 3 years 7.00% 7.50% 7.75% 1% less than the appropriate rate.
   > Over 3 years upto 5 years 6.75% 7.25% 7.50% 1% less than the appropriate rate.
   > Over 5 years upto 7 years 5.75% 6.25% 6.50% 1% less than the appropriate rate.
   > Bank Term Deposit  for 5 Years (Exempt u/s 80CC) of IT Act (up to Rs.1.50 lakh) 6.75% 6.75% 6.75% Premature withdrawals Not Allowed.

Interest rate on single term deposits of Rs. 1.00 crore and above effective from 15.11.2019 will be as under :

Sr. No. Particulars Rate of Interest  
  Effective From 15.11.2019 Public Senior Citizen
(Age 60 & < 75)
Super Senior Citizen
(Age 75 and above)
Penal Rate of Interest for Premature withdrawal
   > 7 days to 14 days 4.00% 4.00% 4.00% 1% less than
the appropriate rate.
   > 15 days to 45 days 4.00% 4.50% 4.75%
   > From 46 days to 90 days 4.25% 4.75% 5.00 %
   > From 91 days to 180 days 4.75% 5.25% 5.50%
   > From 181 days to 364 days 6.00% 6.50% 6.75%
   > From 1 year to 3 years 7.00% 7.50% 7.75%
   > Over 3 years upto 5 years 6.75% 7.25% 7.50%
   > Over 5 years upto 7 years 5.75% 6.25% 6.50%

NRE Deposits :

Effective From 15.11.2019 Interest Rate Penal Rate of Interest for Premature withdrawal
1 Year to 3 Years 6.50% 1% less than the appropriate rate.

Note :

(1) All rates are subject to revision from time to time.

(2) No. term deposit including recurring deposit will be accepted exceeding period of 7 year.

(3) In case of pre-mature payment of time deposits : Savings Bank interest rate shall be given for 15 days to 45 days & above 45 days the bank Shall deduct 1% as penal interest from the rate for which the deposit has remained with the bank and the rate applicable will be the rate prevalent on which the time deposit was made out.