|
|
Rates of Interest
(% p.a)
LOCAL/NRO
***
W.E.F. 01.05.2008 |
Less than
Rs.5 mio.
PROPOSED
|
Above
Rs.5 mio.
PROPOSED
|
| 7
DAYS TO 14 DAYS |
4.00
|
4.00
|
15
DAYS TO 45 DAYS
|
4.00
|
4.50
|
46
DAYS TO 90 DAYS
|
4.00
|
4.50
|
91
DAYS TO 179 DAYS
|
5.00
|
5.50
|
180
DAYS TO LESS THAN 1 YR
|
8.00
|
8.50
|
1
YR & ABOVE TO LESS THAN 2 YRS
|
9.25
|
9.50
|
2
YRS AND ABOVE LESS THAN 3 YRS
|
9.25
|
9.50
|
3
YRS
|
8.00
|
8.50
|
NRE
(PERIOD W.E.F. 01.05.2008) |
Rate %
|
1
YR & ABOVE TO < 2 YRS
|
3.08
|
2
YRS & ABOVE TO < 3 YRS
|
3.18
|
3
YEARS
|
3.45
|
NRE Saving Deposit Rate : 3.50 %
(Rates are expressed in % p.a.) These rates are also applicable for renewals of NRE deposits.
RFC/CONSULATE
W.E.F. 01.05.2008
|
USD
|
GBP
|
EURO
|
1 MONTH & ABOVE BUT LESS THAN 6
MONTHS
|
2.00
|
0.00
|
N.A.
|
6 MONTHS & ABOVE BUT LESS THAN 1
YEAR
|
2.50
|
3.50
|
1.50
|
| 1 YEAR & ABOVE BUT LESS THAN 2
YEARS |
2.33
|
4.25
|
2.50
|
| 2 YEARS & ABOVE BUT LESS THAN 3
YEARS |
2.43
|
---
|
---
|
| 3
YEARS |
2.70
|
---
|
---
|
SB Account
|
2.00
|
2.00
|
---
|
*(Rates are expressed in percentage per amount)
FCNR**
PERIOD - W.E.F. 01.05.2008 |
USD
|
GBP*
|
EURO*
|
1
YR & ABOVE TO < 2 YRS
|
2.33
|
4.25
|
2.50
|
2
YRS & ABOVE TO < 3 YRS
|
2.43
|
NA
|
NA
|
| 3
YEARS |
2.70
|
NA
|
NA
|
*DEPOSITS IN GBP AND EURO WILL BE ACCEPTED FOR ONE YEAR ONLY.
Please arrange to advise our branches in UAE accordingly.
Rates of Interest are given as % p.a
YIELD for NRE deposits
w.e.f 01.03.2008
|
Yield
|
1 YEAR & ABOVE
LESS THAN 2 YEARS
|
2.74
|
2 YEARS ABOVE LESS
THAN 3 YEARS
|
2.68
|
3
YEARS
|
3.06
|
NRE Saving Deposit Rate : 3.50 %
(Rates are expressed in % p.a.) These rates are also applicable for renewals of NRE deposits.
YIELD
|
for US$ deposits
|
1 yr to 2 yrs
|
2.00
|
2
YRS TO 3 YRS
|
1.92
|
3
YEARS
|
2.28
|
Savings NRE 3.5%, Savings NRO 3.5%
- The interest rates for all schemes
(including FCNR scheme) are fixed at bank's discretion. These rates
are subject to change without any notice.
- W.E.F. 01/11/99 FCNR deposits
will be accepted for minimum period of 1 year period. Premature encashment
of FCNR Deposits before 1 year will entail complete forfeiture of interest.
Differential rate of interest
- In terms of RBI directives, NRE deposits are accepted for a minimum maturity period of 1 year.
- For deposits above Rs.5 crores, kindly contact the treasury.
- Interest rates are applicable for fresh and renewed deposits.
- The deposits placed by Senior Citizens will carry additional rate
of 0.50%.
Note:
In case of Domestic/NRO deposits no interest will be payable if the
deposit is withdrawn prematurely prior to 15 days. Similarly in case of NRE deposits no interest will be payable if the deposit is withdrawn prematurely prior to completion of one year. In all other cases 1% penalty as per the present rule will be levied.
NRI
ACCOUNTS
.............................................................................................................
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