Deposit Interest Rates
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Sr. No. Particulars Rate of Interest  
  Effective From 08.06.2020 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 3.75% 3.75% 3.75% 1% less than the appropriate rate.
   > 15 days to 45 days 3.75% 4.25% 4.50% 1% less than the appropriate rate.
   > From 46 days to 90 days 4.00% 4.50% 4.75% 1% less than the appropriate rate
   > From 91 days to 180 days 4.75% 5.25% 5.50% 1% less than the appropriate rate.
   > From 181 days to 364 days 5.25% 5.75% 6.00% 1% less than the appropriate rate.
   > From 1 year to 5 years 6.00% 6.50% 6.75% 1% less than the appropriate rate.
   > Over 5 years upto 7 years 5.00% 5.50% 5.75% 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) 6.00% 6.00% 6.00% Premature withdrawals Not Allowed.
           

Interest rate on single term deposits of Rs. 1.00 crore and above effective from 08.06.2020 will be as under :

Sr. No. Particulars Rate of Interest  
  Effective From 08.06.2020 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 3.75% 3.75% 3.75% 1% less than
the appropriate rate.
   > 15 days to 45 days 3.75% 4.25% 4.50%
   > From 46 days to 180 days 4.00% 4.50% 4.75%
   > From 181 days to 364 days 5.00% 5.50% 5.75%
   > From 1 year to 3 years 6.00% 6.50% 6.75%
   > Over 3 years upto 5 years 5.75% 6.50% 6.75%
         
         

NRE Deposits : Effective From 08.06.2020

Period Interest Rate Penal Rate of Interest for Premature withdrawal
1 Year to 3 Years 6.00% 1% less than the appropriate rate.

Co-operative Bank Deposits : Effective From 08.06.2020

Perod Interest Rate Penal Rate of Interest for Premature withdrawal
1 Year to 3 Years 5.00% 1% less than the appropriate rate.

Note :

(1) The above rates of interest are also applicable to Recurring Deposits. 

(2) The rate of interest for Savings bank account holder will be 3.75%.