Interest Rate
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Savings Account
Savings Account Slab - W.E.F 01-July-2021 Interest Rate (% p.a.)
Upto and including 1 lakh 4.50%
Above 1 lakh and including 5 lakh 6.00%
Above 5 lakh and including 1 Cr 7.00%
Above 1 Cr and including 2 Cr 6.00%
Above 2 Cr and including 5 Cr 5.75%
Above 5 Cr and including 15 Cr 4.50%
Above 15 Cr and including 20 Cr 4.00%
Above 20 Cr and including 30 Cr 3.25%
Above 30 Cr and including 50 Cr 3.00%
Above Rs. 50 Cr 3.00%
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 1,00,000 : 4.5%
4. For incremental balances above INR 1 Lakh to INR 5 lakh: 6.00%
5. For incremental balances above INR 5 Lakh to INR 1 crore: 7%
6. For incremental balances above INR 1 crore to INR 2 Crore : 6%
7. For incremental balances above INR 2 crore to INR 5 Crore : 5.75%
8. For incremental balances above INR 5 Crore to INR 15 Crore : 4.5%
9. For incremental balances above INR 15 Crore to INR 20 Crore : 4%
10. For incremental balances above INR 20 Crore to INR 30 Crore : 3.25%
11. For incremental balances above INR 30 Crore to INR 50 Crore : 3%
12. Above INR 50 Crore : 3%
13. 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 July 15, 2021 for various tenors are mentioned below:

Tenure MCLR Rates
Overnight 12.20%
1 Month 12.25%
3 Months 12.30%
6 Months 12.55%
1 Year 12.60%
2 Years 12.90%

External benchmark rates effective from 1st July 2021 is as under.

Benchmark Rate
10 year Government of India Securities Yield *

6.35%

12 months Treasury Bill rate # 3.74%

*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 29-July-2021) General Public Effective Yield (W.E.F 29-July-2021) Senior Citizen Rate (W.E.F 29-July-2021) Senior Citizen - Effective Yield (W.E.F 29-July-2021)
7 days - 45 days 3.00% 3.00% 3.50% 3.50%
46 days - 90 days 3.25% 3.25% 3.75% 3.75%
91 days - 180 days 3.50% 3.50% 4.00% 4.00%
181 days - 364 days 5.00% 5.09% 5.50% 5.61%
12 months - 15 months 5.60% 5.72% 6.10% 6.24%
15 months 1 day - 18 months 5.60% 5.72% 6.10% 6.24%
18 months 1 day - 21 months 6.00% 6.14% 6.50% 6.66%
21 months 1 day - 24 months 6.00% 6.14% 6.50% 6.66%
24 months 1 day - 30 months 6.25% 6.40% 6.75% 6.92%
30 months 1 day - 36 months 6.25% 6.40% 6.75% 6.92%
36 months 1 day - 42 months 6.50% 6.66% 7.00% 7.19%
42 months 1 day - 48 months 6.25% 6.40% 6.75% 6.92%
48 months 1 day - 59 months 6.25% 6.40% 6.75% 6.92%
59 months 1 day - 66 months 6.75% 6.92% 7.25% 7.45%
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 29-July-2021) Effective Yield (W.E.F 29-July-2021)
181 days - 270 days 5.10% 5.20%
271 days - 330 days 5.10% 5.20%
331 days - 360 days 5.70% 5.82%
361 days - 13 months 5.80% 5.93%
13 months 1 day - 15 months 5.80% 5.93%
15 months 1 day - 18 months 5.80% 5.93%
18 months 1 day - 21 months 6.10% 6.24%
21 months 1 day - 24 months 6.15% 6.29%
24 months 1 day - 30 months 6.15% 6.29%
30 months 1 day - 36 months 6.15% 6.29%
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 29-July-2021) NRO Effective Yield (W.E.F 29-July-2021) NRE (W.E.F 29-July-2021) NRE- Effective Yield (W.E.F 29-July-2021)
7 days - 45 days 3.00% 3.00% NA NA
46 days - 90 days 3.25% 3.25% NA NA
91 days - 180 days 3.50% 3.50% NA NA
181 days - 364 days 5.00% 5.09% NA NA
12 months - 15 months 5.60% 5.72% 5.60% 5.72%
15 months 1 day - 18 months 5.60% 5.72% 5.60% 5.72%
18 months 1 day - 21 months 6.00% 6.14% 6.00% 6.14%
21 months 1 day - 24 months 6.00% 6.14% 6.00% 6.14%
24 months 1 day - 30 months 6.25% 6.40% 6.25% 6.40%
30 months 1 day - 36 months 6.25% 6.40% 6.25% 6.40%
36 months 1 day - 42 months 6.50% 6.66% 6.50% 6.66%
42 months 1 day - 48 months 6.25% 6.40% 6.25% 6.40%
48 months 1 day - 59 months 6.25% 6.40% 6.25% 6.40%
59 months 1 day - 60 months 6.75% 6.92% 6.75% 6.92%
**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 29-July-2021) Effective Yield (W.E.F 29-July-2021)
7 days - 45 days 3.00% 3.00%
46 days - 90 days 3.25% 3.25%
91 days - 180 days 3.50% 3.50%
181 days - 364 days 5.00% 5.09%
12 months - 15 months 5.60% 5.72%
15 months 1 day - 18 months 5.60% 5.72%
18 months 1 day - 21 months 6.00% 6.14%
21 months 1 day - 24 months 6.00% 6.14%
24 months 1 day - 30 months 6.25% 6.40%
30 months 1 day - 36 months 6.25% 6.40%
36 months 1 day - 42 months 6.50% 6.66%
42 months 1 day - 48 months 6.25% 6.40%
48 months 1 day - 59 months 6.25% 6.40%
59 months 1 day - 66 months 6.75% 6.92%
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 9.99% onwards
Self Employed 10.99% onwards

*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’21 to March’21

Type of Interest Rate
Min. Rate of Interest 9.99%
Max. Rate of Interest 18%
Mean Interest Rate 14.25%
Annual Percentage Rate (APR) 14.38%
Loan Against Gold

Rates offered to the customer during the period April’21 to June’21

Interest Rates Range
Min. Rate of Interest 10.99%
Max. Rate of Interest 24.99%
Mean Interest Rate 17.99%
Annual Percentage Rate (APR) 18.08%
Micro Loans

Rates offered to customer during the period January’21 to March'21.

Interest Rates Range
Min. Rate of Interest 21.75%
Max. Rate of Interest 26.00%
Mean Interest Rate 22.81%
Annual Percentage Rate (APR) 23.85%
Loan Against Property
Loan Amount ROI
1.5 Lakhs - 50 Lakhs 13.5% Onwards

Rates offered to customer during the period January’21 to March'21.

Interest Rates Range
Min. Rate of Interest 13.50%
Max. Rate of Interest 24.00%
Mean Interest Rate 20.29%
Annual Percentage Rate (APR) 20.41%

Business Loan

Interest Rates Range
Min. Rate of Interest 18.00%
Max. Rate of Interest 24.00%
Mean Interest Rate 22.87%
Annual Percentage Rate (APR) 22.87%