RD Interest Rates

Rates for some key tenures:

PeriodInterest Rate (per annum)**Senior Citizen Rates (per annum)Effective From
6 Months 7.50% 8.00% December 15, 2012
9 Months 8.00% 8.50% December 15, 2012
12 Months 8.00% 8.50% December 15, 2012
15 Months 8.75% 9.25% September 12, 2012
24 Months 8.75% 9.25% September 12, 2012
27 Months 8.75% 9.25% September 12, 2012
36 Months 8.75% 9.25% September 12, 2012
39 Months 8.75% 9.25% September 12, 2012
48 Months 8.75% 9.25% September 12, 2012
60 Months 8.75% 9.25% September 12, 2012
90 Months 8.25% 8.75% December 10, 2010
120 Months 8.25% 8.75% December 10, 2010

**Only Senior Citizens are eligible for higher rates of interest.

Note: Interest rates are subject to periodic changes. The applicable interest rates will be given based on the date and time of receipt of the funds by the bank.
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  • Premature Liquidation
    Effective 01st Dec'06, the interest rate applicable for premature closure of deposits (all amounts) will be lower of :
    • The original rate at which the deposit has been booked OR
    • The base rate applicable for the tenure for which the deposit has been in force with the Bank.
      The base rate is the rate applicable to deposits of less than Rs.15 lacs as on the date of booking the deposit.
  • Penalty on delayed Installment - A penalty is charged at the contracted Recurring Deposit interest rate along with an additional 2% per annum, for all delayed installments.
  • Method used to charge a Penalty - The penalty will be charged for the actual period of the delay only. The Penal interest shall be recovered only at the time of maturity or premature closure of the account, as the case may be.

    • Interest and Penalty calculation methods are as per the IBA Guidelines.

    * The Recurring Deposit Advice will be dispatched to your recorded mailing address within 3-4 working days of opening your account.