Scribd
Upload
75 views2 pages

Public & Corporate Deposit Rates 2023

The document outlines interest rates for public deposits with the bank. Rates are provided for monthly and yearly options on deposits up to Rs. 20 crores and over Rs. 20 crores. Interest rates range from 7-7.75% for the 1-5 year terms described. Additional details provided include minimum deposit amounts, interest payment schedules, and higher rates for senior citizens. A separate corporate deposit scheme with slightly higher rates for larger deposit amounts over Rs. 5 and 10 crores is also summarized.

Uploaded by

craftylandofficial
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
75 views2 pages

Public & Corporate Deposit Rates 2023

The document outlines interest rates for public deposits with the bank. Rates are provided for monthly and yearly options on deposits up to Rs. 20 crores and over Rs. 20 crores. Interest rates range from 7-7.75% for the 1-5 year terms described. Additional details provided include minimum deposit amounts, interest payment schedules, and higher rates for senior citizens. A separate corporate deposit scheme with slightly higher rates for larger deposit amounts over Rs. 5 and 10 crores is also summarized.

Uploaded by

craftylandofficial
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Public Deposit Scheme

Interest rates effective from 12/04/2023 on Public Deposits upto ₹ 20 CRORES :

INTEREST RATE P.A. FOR INTEREST RATE P.A. FOR ON MATURITY UNDER
TERM MONTHLY OPTION YEARLY OPTION CUMULATIVE SCHEME
Cumulative & Non-Cumulative
Non-Cumulative Deposits ₹ 20,000/- will Become
Deposits

1 YEAR 7.00% 7.25% ₹ 21,450


18 MONTHS 7.10% 7.35% ₹ 22,259
2 YEARS 7.35% 7.60% ₹ 23,156
3 YEARS 7.50% 7.75% ₹ 25,020
5 YEARS 7.50% 7.75% ₹ 29,048

Other Details Monthly Option Yearly Option

Minimum Amount of Deposit ₹ 2,00,000/- ₹ 20,000/-


Additional Deposit in multiples of ₹ 10,000/- ₹ 1,000/-

1st day of the Month & on 31st


Interest will be paid on Non-Cumulative Scheme March for the month of March On 31st March
Annually on Cumulative
Interest will be compounded --
Deposits

Senior Citizens : Additional interest @ 0.25% p.a. (for deposits of ₹ 20,000/- & above but upto ₹ 2 Crores) on all tenors.

Interest rates effective from 12/04/2023 on Public Deposits above ₹ 20 CRORES:

INTEREST RATE P.A. FOR INTEREST RATE P.A. FOR ON MATURITY UNDER
TERM MONTHLY OPTION YEARLY OPTION CUMULATIVE SCHEME
Cumulative & Non-Cumulative
Non-Cumulative Deposits ₹ 200001000/- will become
Deposits
1 YEAR 7.00% 7.25% ₹ 21,45,01,073
18 MONTHS 7.00% 7.25% ₹ 22,22,76,736
2 YEARS 7.25% 7.50% ₹ 23,11,26,156
3 YEARS 7.50% 7.75% ₹ 25,01,98,098
5 YEARS 7.50% 7.75% ₹ 29,04,81,555

Interest rates are subject to change and rate applicable will be the rate prevalent on the date of credit of cheque/Transfer in
company's Bank Account.
Corporate Deposit Scheme

Interest rates effective from 12/04/2023 on Corporate Deposits upto ₹ 20 CRORES*

INTEREST RATES P.A. ON CUMULATIVE AND NON-CUMULATIVE DEPOSITS (YEARLY OPTION)

Term
DEPOSITS ABOVE RS. 5 CRORES DEPOSITS ABOVE RS. 10 CRORES
DEPOSITS UP TO RS. 5 CRORES
UPTO RS. 10 CRORES UPTO RS. 20 CRORES
1 YEAR 7.45% 7.50% 7.55%
18 MONTHS 7.45% 7.50% 7.55%
2 YEARS 7.45% 7.50% 7.55%
3 YEARS 7.45% 7.50% 7.55%
5 YEARS 7.45% 7.50% 7.55%

*FOR RATE OF INTEREST ON DEPOSITS OF ABOVE ₹ 20 CRORES: PLEASE CONTACT OUR CORPORATE OFFICE.

Card rates will be applicable as per the amount of deposit mentioned in the FD application form.

Under Non-Cumulative Deposit Scheme, Interest will be payable on 31st March & under Cumulative Deposit Scheme, interest will
be compounded annually.

A depositor can deposit upto Rs. 20 Crore in each of the period between 1st to 15th & 16th to the last day of a month at
the applicable card rates. If the total deposit amount exceeds Rs. 20 Crore in any of the above mentioned period, the
interest rates for that period will be the rates applicable for deposits exceeding Rs. 20 Crore.

You might also like