Interest Rate
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Savings Account
Savings Account Slab - w.e.f 01/July/2020 Rate of Interest
Upto and including Rs. 1 Lakh 5.00% pa
Above Rs. 1 Lakh and upto including Rs. 5 Lakh 6.25% pa
Above Rs. 5 Lakh and upto including 1 Cr 7.00% pa
Above Rs. 1 Cr and upto including Rs. 5 Cr 6.50% pa
Above Rs. 5 Cr and upto including Rs.15 Cr 6.25% pa
Above Rs. 15 Cr and upto including Rs. 20 Cr 6.00% pa
Above Rs. 20 Cr and upto including Rs. 30 Cr 3.50% pa
Above Rs. 30 Cr and upto including Rs. 50 Cr 3.50% pa
Above Rs. 50 Cr 3.50% pa
Terms and conditions
1. Please note that the interest rates mentioned are applicable for the incremental balances that are present corresponding to amount slab mentioned
2. For Example if Total balance is INR 51 crore. Then following grid will be applicable
3. For balance INR 1 to INR 1 Lakh : 5%
4. For incremental balances above INR 1 Lakh to INR 5 Lakh : 6.25%
5. For incremental balances above INR 5 Lakh to INR 1 Crore : 7%
6. For incremental balances above INR 1 Crore to INR 5 Crore : 6.5%
7. For incremental balances above INR 5 Crore to INR 15 Crore : 6.25%
8. For incremental balances above INR 15 Crore to INR 20 Crore : 6%
9. For incremental balances above INR 20 Crore to INR 30 Crore : 3.5%
10. For incremental balances above INR 30 Crore to INR 50 Crore : 3.5%
11. Above INR 50 Crore : 3.5%
12. Please note that all the above stated savings account interest rates are subject to change without prior notice
Marginal Cost of Funds based Lending Rates (MCLR)

The Marginal Cost of Funds based Lending Rate (MCLR) with effect from September 15, 2020 for various tenors are mentioned below:

Tenure MCLR Rates
Overnight 14.15%
1 Month 14.20%
3 Months 14.25%
6 Months 14.45%.
1 Year 14.55%
2 Years 14.65%

External benchmark rates effective from 1st October 2020 is as under

Benchmark Rate
10 year Government of India Securities Yield *

6.02%

12 months Treasury Bill rate # 3.51%

*Arrived based on 3 months’ average yield of 10-year Government of India bond curve

# Arrived based on 3 months’ average yield of 12 months Treasury Bill curve

Resident Fixed Deposit (less than ₹2 Crores) – WITH Premature Withdrawal Facility
Tenure General Public (W.E.F 03-September-2020) General Public Effective Yield (W.E.F 03-September-2020) Senior Citizen Rate** (W.E.F 03-September-2020) Senior Citizen - Effective Yield** (W.E.F 03-September-2020)
7 days - 45 days 3.50% 3.50% 4.00% 4.00%
46 days - 90 days 4.00% 4.00% 4.50% 4.50%
91 days - 180 days 4.50% 4.50% 5.00% 5.00%
181 days - 364 days 6.00% 6.14% 6.50% 6.66%
12 months - 15 months 6.95% 7.13% 7.45% 7.66%
15 months 1 day - 18 months 7.00% 7.19% 7.50% 7.71%
18 months 1 day - 21 months 7.10% 7.29% 7.60% 7.82%
21 months 1 day - 24 months 7.10% 7.29% 7.60% 7.82%
24 months 1 day - 30 months 7.25% 7.45% 7.75% 7.98%
30 months 1 day - 36 months 7.25% 7.45% 7.75% 7.98%
36 months 1 day - 42 months 7.50% 7.71% 8.00% 8.24%
42 months 1 day - 48 months 7.00% 7.19% 7.50% 7.71%
48 months 1 day - 59 months 7.00% 7.19% 7.50% 7.71%
59 months 1 day - 66 months 6.50% 6.66% 7.00% 7.19%
66 months 1 day - 84 months 5.50% 5.61% 6.00% 6.14%
** A senior citizen is defined as a person above the age of 60 years. In case of Joint account holders where one of the account holder is a Senior Citizen, kindly note that Senior Citizen Term Deposit Interest Rate will only be applicable provided the Senior Citizen is the ‘First holder’ on the said term deposit.
Note:
1. The Fixed Deposit has premature withdrawal facility i.e. the Fixed Deposit can be closed by the depositor before expiry of the term of such deposit.
2. Acceptance of deposits of ₹2 Crores and above is at the discretion of the Bank.
3. Penalty interest rate applies as per terms and conditions
The above rates are subject to revision from time to time.
For Interest Calculation Methodology, please click here
Resident Fixed Deposit rates (₹1 Crore to less than ₹2 Crores)-WITHOUT Premature Withdrawal Facility
Tenure Interest Rate (W.E.F 03-September-2020) Effective Yield (W.E.F 03-September-2020)
181 days - 270 days 6.35% 6.50%
271 days - 330 days 6.55% 6.71%
331 days - 360 days 6.75% 6.92%
361 days - 13 months 7.00% 7.19%
13 months 1 day - 15 months 7.25% 7.45%
15 months 1 day - 18 months 7.25% 7.45%
18 months 1 day - 21 months 7.30% 7.50%
21 months 1 day - 24 months 7.30% 7.50%
24 months 1 day - 30 months 7.35% 7.56%
30 months 1 day - 36 months 7.35% 7.56%
Note:
1. The fixed deposit does not have premature withdrawal facility i.e. the Fixed Deposit cannot be closed by the depositor before expiry of the term of such deposit.
2. The above rates are subject to revision from time to time.
3. No overdraft facility of any kind will be granted.
4. No preferential interest rate for senior citizens.
Non-Resident Fixed Deposit
Tenure NRO** (W.E.F 03-September-2020) NRO Effective Yield (W.E.F 03-September-2020) NRE** (W.E.F 03-September-2020) NRE Effective Yield (W.E.F 03-September-2020)
7 days - 45 days 3.50% 3.50% NA NA
46 days - 90 days 4.00% 4.00% NA NA
91 days - 180 days 4.50% 4.50% NA NA
181 days - 364 days 6.00% 6.14% NA NA
12 months - 15 months 6.95% 7.13% 6.95% 7.13%
15 months 1 day - 18 months 7.00% 7.19% 7.00% 7.19%
18 months 1 day - 21 months 7.10% 7.29% 7.10% 7.29%
21 months 1 day - 24 months 7.10% 7.29% 7.10% 7.29%
24 months 1 day - 30 months 7.25% 7.45% 7.25% 7.45%
30 months 1 day - 36 months 7.25% 7.45% 7.25% 7.45%
36 months 1 day - 42 months 7.50% 7.71% 7.50% 7.71%
42 months 1 day - 48 months 7.00% 7.19% 7.00% 7.19%
48 months 1 day - 59 months 7.00% 7.19% 7.00% 7.19%
59 months 1 day – 60 months 6.50% 6.66% 6.50% 6.66%
**NRO deposit will be eligible for values less than ₹2 Crores only.
** NRE deposit will be eligible for values up to ₹10 Crores only.
Terms and Conditions
1. Interest rates are subject to change from time to time.
2. No preferential interest rates for senior citizen.
3. Penalty interest rate applies as per terms and conditions
Recurring Deposit (less than ₹2 Crores)
Tenure Interest Rate (W.E.F 03-September-2020) General Public Effective Yield (W.E.F 03-September-2020)
7 days - 45 days 3.50% 3.50%
46 days - 90 days 4.00% 4.00%
91 days - 180 days 4.50% 4.50%
181 days - 364 days 6.00% 6.14%
12 months - 15 months 6.95% 7.13%
15 months 1 day - 18 months 7.00% 7.19%
18 months 1 day - 21 months 7.10% 7.29%
21 months 1 day - 24 months 7.10% 7.29%
24 months 1 day - 30 months 7.25% 7.45%
30 months 1 day - 36 months 7.25% 7.45%
36 months 1 day - 42 months 7.50% 7.71%
42 months 1 day - 48 months 7.00% 7.19%
48 months 1 day - 59 months 7.00% 7.19%
59 months 1 day - 66 months 6.50% 6.66%
66 months 1 day - 84 months 5.50% 5.61%
Terms and Conditions
1. Penalty interest rate applies as per terms and conditions
Note:
Minimum tenure for Recurring Deposit is 6 months and maximum tenure is 60 months.
Affordable Housing Loan
Segment Effective Rate Of Interest* (p.a.) linked to External Benchmark Rate**
Salaried 12.75% -14.75%
Self Employed 13.75%-16.50%

*Fixed for 37 months and floating thereafter

** Floating rates are linked to 10 year Government of India Securities Yield (G-Sec) external benchmark rate. G Sec benchmark rate is arrived based on 3 months’ average yield of 10-year Government of India bond curve


Rates offered to customer during the period January’20 to March’20

Type of Interest Rate
Min. Rate of Interest 12.75%
Max. Rate of Interest 18%
Mean Interest Rate 15.25%
Annual Percentage Rate (APR) 15.36%
Loan Against Gold

Rates offered to customer during the period April’20 to June'20

Interest Rates Range
Min. Rate of Interest 14.75%
Max. Rate of Interest 22.99%
Mean Interest Rate 18.87%
Annual Percentage Rate (APR) 17.64%
Micro Loans
Interest Rates Range
Min. Rate of Interest 22.00%
Max. Rate of Interest 25.35%
Mean Interest Rate 24.70%
Annual Percentage Rate (APR) 25.20%
Loan Against Property
Loan Amount ROI
1.5 Lakhs - 5 Lakhs 22% / 24%
> 5 Lakhs - < 10 Lakhs 20%
> 10 Lakhs - < 15 Lakhs 18%
> 15 Lakhs - < 20 Lakhs 15.99%
> 20 Lakhs - 50 Lakhs 14.99%

Rates offered to customer during the period April’20 to June'20.

Interest Rates Range
Min. Rate of Interest 14.99%
Max. Rate of Interest 24.00%
Mean Interest Rate 19.44%
Annual Percentage Rate (APR) 19.58%

Business Loan

Interest Rates Range
Min. Rate of Interest 17.99%
Max. Rate of Interest 28.00%
Mean Interest Rate 23.83%
Annual Percentage Rate (APR) 24.00%