Interest Rates on Deposits
Card Rates for Domestic, NRE and NRO Deposits less than INR 3 Crores*
Rate of Interest (% p.a.) w.e.f. 13th June 2025
Period
Less than INR 3 Crores
7 days – 14 days 3.00%
15 days – 29 days 3.00%
30 days – 45 days 3.00%
46 days – 90 days 4.50%
91 days – 180 days 4.50%
181 days – less than 1 Year 5.50%
1 year 6.25%
1 year 1 day – 500 days 6.25%
501 days – 2 years 6.60%
2 years 1 day – 3 years 6.75%
3 years 1 day – 5 years 6.75%
5 years 1 day – 10 years 6.00%
Tax Saver Deposit Rate of Interest (% p.a.) w.e.f. 13th June 2025
(Only for Domestic Deposits) Less than INR 3 Crores
5 Years 6.75%
Green Deposits Rate of Interest (% p.a.) w.e.f. 13th June 2025
(Only for Domestic Deposits) Less than INR 3 Crores
375 days 6.25%
*Important Notes:
• Minimum tenure for NRE Deposits is 365 days in a non-leap year and 366 days in a leap year.
Minimum tenure for NRO/ Domestic Deposits is 7 days. No interest is payable where deposit has not
been in place for applicable minimum tenure.
• The incentive for Senior Citizens will be at an additional spread of 0.50% p.a. over the above rate and
will not be available for NRE or NRO Fixed Deposits.
• Rates up to 180 days are on “simple interest” basis. Interest on tenor above 180 days is
payable/compounded on quarterly basis.
• Compound Interest/ re-investment interest is calculated every quarter and is added to the principal
such that Interest is paid on the Interest earned in the previous quarter as well.
• For deposits with monthly interest pay-out option, the interest shall be calculated for the quarter and
paid monthly at a discounted rate over the Standard FD Rate.
• In case of premature closure of the Term/Fixed Deposit, interest will be paid basis interest rate
applicable at the time of booking the Term/Fixed deposit, for the corresponding period for which
deposit has remained with the bank. Additionally, term/fixed deposit if prematurely closed, would be
subject to ‘Premature Closure Penalty’ as prescribed by the Bank on the date of deposit. The said
Premature Closure Penalty shall be applicable and imposed on all Term/Fixed Deposits booked and/or
renewed on or after May 2, 2019.
• Term/Fixed Deposits of Senior Citizens and premature closure of Term/Fixed Deposit effected due to
death of account holder/s are exempted from the said Premature Closure Penalty.
• The Interest thereon will be paid for the period for which the deposit has remained with the bank,
after application of penalty.
• The Interest calculated is rounded up to the nearest rupee and calculation of interest is basis 365 days
for the period of fixed deposit falling in a non-leap (financial) year and 366 days for the period of fixed
deposit falling in a leap (financial) year.
• Premature Closure Penalty will be applicable on Retail Term/Fixed Deposits & the same shall not be
levied on Term/Fixed deposits of Government, Quasi Government, Regulatory & Statutory bodies.
• Penalty for pre-mature closure of Fixed Deposit would be at 1%.
• These rates are applicable till revised further.
Domestic, NRE & NRO Recurring Deposit (RD) Interest rates**
RD - Rate of Interest (% p.a.)
Period
w.e.f. 13th June 2025
6 months 4.50%
9 months 5.50%
12 months 6.25%
24 months 6.60%
36 months 6.75%
** Important Notes
• With effect from 3rd May 2025, recurring deposits can be booked in tenors of 6 months, 9 months, 12
months, 24 months and 36 months only.
• Minimum and maximum monthly installment for recurring deposits will be Rs. 100 and Rs. 1,25,000
respectively.
• Interest rates are per-annum. Pay-out will be only on maturity with quarterly compounding.
• The incentive for Senior Citizens will be at an additional spread of 0.50% p.a. over the above rate and
will not be available for NRE or NRO Recurring Deposits.
• NRE Recurring Deposit can be booked for a minimum tenure of 12 months.
• Premature withdrawal: In case of withdrawal within 30 days for Domestic & NRO RD and withdrawal
within 365 days in a non-leap year and 366 days in a leap year for NRE RD, no interest is payable.
• In case of premature closure of Domestic & NRO RD after 30 days and before 6 months, interest will be
paid basis interest rate applicable for fixed deposits at the time of booking.
• In case of premature closure of Domestic & NRO RD on or after 6 months and of NRE RD on or after 1
year, interest will be paid basis interest rate applicable at the time of booking the Recurring Deposit
for the corresponding period for which deposit has remained with the bank.
• Additionally, recurring deposit if prematurely closed, would be subject to ‘Premature Closure Penalty’
as prescribed by the Bank on the date of deposit. The said Premature Closure Penalty shall be
applicable and imposed on all Recurring Deposits booked and/or renewed on or after May 2, 2019.
• Penalty for pre-mature closure of Recurring Deposit would be at 1%.
