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 Rupee Term Deposit Rate

Revision in Interest Rates On Domestic Rupee Term Deposits

 

The Bank has revised interest rates w.e.f. 27.11.2009 on Domestic Rupee Term Deposits of less than Rs. 15 lacs and Rs. 15 lacs & above but less than Rs. 1 Crore for various periods as given below:-


FOR DOMESTIC RUPEE TERM DEPOSITS

 (% p.a)

Maturity
For deposits less than Rs.15 lacs.
For deposits of Rs.15 lacs and above but less than Rs.1Crore
For deposits of Rs.1crore & above
Existing
w.e.f.
03.08.09
 
Revised w.e.f.
27.11.09
Existing
w.e.f.
03.08.09
 
Revised w.e.f.
27.11.09
Existing
w.e.f.
03.08.09
Revised w.e.f.
27.11.09
07 days to 14 days *
2.50
2.50
2.50
2.50
1.50
1.50
15 days to 30 days
2.75
2.75
2.75
2.75
2.25
2.25
31 days to 45 days
3.00
3.00
3.00
3.00
2.50
2.50
46 days to 90 days
4.00
4.00
4.00
4.00
3.00
3.00
91 days to 179 days
5.00
5.00
5.00
5.00
3.50
3.50
180 days to 269 days
6.00
5.75
6.00
5.75
4.50
4.50
270 days to 364 days
6.25
6.00
6.25
6.00
5.00
5.00
1 year to less than 2  years
6.50
6.50
6.50
6.50
6.00
6.00
2 years and above
6.50
6.50
6.50
6.50
6.00
6.00

* Minimum Deposit Rs.1 lakh.

Effective Annualised Rate of Return (Indicative only)

Maturity
For deposits less than Rs.15 lacs
For deposits of Rs.15 lacs and above but less than Rs.1 Crore.
For deposits of Rs.1 crore  & above
Rate of Interest
(%)  p.a.
Annualised Rate of Return at minimum of the maturity bucket   %
Rate of Interest
(%)
p. a.
Annualised Rate of Return at minimum of the maturity bucket   %
Rate of Interest
(%)
p. a.
Annualised Rate of Return at minimum of the maturity bucket   %
180 days to 269 days
5.75
5.79
5.75
5.79
4.50
4.52
270 days to 364 days
6.00
6.09
6.00
6.09
5.00
5.06
1 year to less than 2 years
6.50
6.66
6.50
6.66
6.00
6.13
2 years to less than 3 years
6.50
6.88
6.50
6.88
6.00
6.32
3 years to less than 5 years
6.50
7.11
6.50
7.11
6.00
6.52
5 years and above
6.50
7.60
6.50
7.60
6.00
6.93

BoI Floating Rate Deposits Scheme has been discontinued w.e.f. 01.09.2009 (Branch Circular No. 103/95 dated 28.08.2009). No fresh deposits should be accepted under this scheme. The outstanding DBD and FDR accounts under Floating Rate Deposits Scheme will continue till their maturity date but no further renewals will be done under this scheme.

SENIOR CITIZENS: Senior Citizens (public other than staff) will get 0.5% p.a. interest more than the card rates on their deposits of  six months and above maturity on all deposit schemes uniformly till further notice. Senior Citizens Ex-Staff members will get 1.5% p.a. additional interest (0.5% for senior citizen+1% p.a. applicable to staff members) for their deposits for periods of 6 months and above on fresh/renewal of deposits upto amount of Rs. 15 lacs only (Branch Circular No. 102/27 dated 07.05.2008).

PREMATURE WITHDRAWAL: We have waived the penalty on Premature Withdrawal of all domestic Rupee Term Deposits w.e.f. 01.12.2008 irrespective of date of deposit and amount .(earlier the deposit amount was Rs. 25 lacs and above w.e.f. 01.04.2005 vide branch circular no. 98/258 dated 31.03.2005).

The revised interest rates on Domestic Rupee Term Deposits of less than Rs. 15 lacs and Rs. 15 lacs & above but less than Rs. 1 Crore will be applicable for various periods on fresh deposits and on renewal of maturing deposits w.e.f. 27.11.2009.

 
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