Deposit Rates

Interest Rate payable on Savings Bank Deposit Accounts is @3.50% per annum with effect from 1st March, 2003.

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  Rate of Interest on Diamond Deposit Scheme will be 6.50%
          (to be discontinued w.e.f 01.01.04)

          Note: @ The bank shall accept deposits for a minimum periods of 7 days,
          provided minimum deposit amount is Rs 15 lacs & above

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Premature withdrawl of large Term Deposits

For fresh term deposits and renewals with effect from 25.09.2001, premature withdrawal of deposits of size Rs. 1 crore and above is not allowed under any circumstances, except for deposits held by individuals and Hindu Undivided Families (HUF).

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NON-RESIDENT DEPOSIT SCHEMES

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:: FCNR Deposits :: NRE Deposits :: NRNR Deposits
:: RFCA :: EEFC Deposits

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FCNR (B) Deposits (Revised w.e.f 03.02.2006)
Period	Interest Rate (% per annum)
	Currency
	USD	GBP	Euro	AUD	CAD
1 year to less than 2 years	4.69 (4.59)	4.43 (4.32)	2.66 (2.60)	5.43 (5.46)	3.81 (3.76)
2 years to less than 3 years	4.67 (4.58)	4.45 (4.29)	2.90 (2.79)	5.41 (5.40)	3.88 (3.85)
3 years to less than 4 years	4.66 (4.61)	4.46 (4.31)	3.01 (2.88)	5.45 (5.40)	3.96 (3.88)
4 years to less than 5 years	4.68 (4.63)	4.45 (4.31)	3.08 (2.94)	5.51 (5.45)	4.02 (3.91)
5 Years only	4.70 (4.64)	4.43 (4.31)	3.15 (2.98)	5.53 (5.45)	4.09 (3.93)
- These interest rates are applicable only on fresh deposits and on renewal of deposits maturing on or after February 3, 2006. - Figures written in bracket represent previous interest rates. - The above interest rates shall also be applicable to RFC Deposits denominated in USD, GBP and EUR currencies for the maturity period of 1 to 5 years. - Please note that bank has started accepting deposits in Canadian (CAD) and Australian dollars(AUD). - Maximum maturity of deposits has been increased to 5 years from 3 years.

NRE Deposits (w.e.f  03.02.2006)
Period (for Term Deposit)	Rate of interest per annum
1 Year to less than 2 Years	5.70 (5.60)
2 Years to less than 3 years	5.70 (5.60)
3 years to 5 years	5.70 (5.60)
-The revised interest rates of Global Rupee term deposits will be applicable to fresh deposits accepted on or after February 3, 2006 and will also apply to deposits renewed after their present maturity period. Please note that no differential interest is payable on these deposits irrespective of the amount of deposit. - Figures written in bracket represent previous interest rates. - Please note that now bank is accepting deposits upto 5 years maturity.

 

NRNR and NRSR Deposits : Discontinued w.e.f. 01.04.02.The existing accounts under NRNR Deposit scheme  may be continued  only upto the date of maturity. The existing NRSR accounts other than Term Deposits shall not be continued  after 30.09.02

 

RFC Deposits  (Revised w.e.f 01.02.2006)
Period	Interest Rate (% per annum)
	Currency
	US$	GBP	Euro	AUS$
Savings Bank (effective upto 01.02.06)	3.00	3.70	1.80	4.25
Period for Term Deposit :
1 Year to less than 2 Years	4.20	4.05	2.30	4.50
2 Years to less than 3 Years	4.17	4.05	2.40	4.55
3 years to less than 4 years	4.20	4.05	2.50	4.60
4 years to less than 5 years	4.20	4.10	2.55	4.65
5 years Only	4.25	4.15	2.60	4.70

 

Resident Foreign Currency Accounts (RFCA) (Revised w.e.f . 20.04.2004)

Type of Account	US$	GBP	EURO	YEN
Savings Bank	0.00	1.00	0.00	0.00
Term Deposit (minimum amount US$ 10,000/-)
1 month but less than 6 months	0.85	3.75	1.75	0.00
6 months but less than 1 year	1.00	4.25	1.75	0.00
1 year and above	1.30	4.50	1.85	0.00

For RFC deposit, additional 1% interest for staff members is not allowed.

 

Dollar Deposit Account under EEFC Scheme (Revised w.e.f. 01.09.2001)

Type of Account : Only Current Account

Note: For deposits above Rs.15 lakhs, the matter may be referred to H.O International Division for special rates.

Exchange Bureau : We have recently opened forex counters at our following branches, viz. a) Kolkata Main Branch, Kolkata b) D N Road Branch, Mumbai c) Pondicherry Main Branch d) Mount Road Branch, Chennai e) Parliament Street Branch, New Delhi At these counters sales and purchases of foreign currency notes / travellers cheques are being undertaken at attractive rates.