GENERAL INTEREST RATES ON DOMESTIC TERM DEPOSITS
| Particulars | Less than 1 Crore | |
|---|---|---|
| General/Co-operative Societies/ Banks/ Trusts/ NRO (p.a.) | Senior Citizen's | |
| 7 days to 14 days | 3.75% | 3.75% |
| 15 days to 90 days | 4.00% | 4.00% |
| 91 days to 180 days | 5.50% | 5.50% |
| 181 days to 12 months | 5.75% | 5.75% |
| 367 days (simple interest)* | 7.00% | 7.50% |
| Above 12 months to 36 months | 6.50% | 7.00% |
| Above 36 months to 60 months | 6.25% | 6.75% |
| Above 60 months to 120 months | 6.25% | 6.75% |
* Interest rate applicable to senior citizen as per above table, will not be applicable to senior citizen for NRE/NRO Category.
BULK DEPOSIT RATES ( w.e.f 6th March 2024 )
| Particulars | Rs. 1 Crore & above | |
|---|---|---|
| General/Co-operative Societies/ Banks/ Trusts/ NRO (p.a.) | Senior Citizen's | |
| 7 days to 14 days | 3.75% | 3.75% |
| 15 days to 90 days | 4.00% | 4.00% |
| 91 days to 180 days | 5.50% | 5.50% |
| 181 days to 12 months | 5.75% | 5.75% |
| Above 12 months to 15 months | 7.25% | 7.75% |
| Above 15 months to 36 months | 6.50% | 7.00% |
| Above 36 months to 60 months | 6.50% | 7.00% |
| Above 60 months | 6.50% | 7.00% |
** The above rates will be applicable till the new rates on bulk deposits are announced.
Deposit Insurance
The Deposit Insurance System in India is subject to the Provisions of Deposit
Insurance Act (enacted in 1961). Deposit Insurance and Credit Guarantee Corporation (Wholly owned subsidiary of the Reserve Bank of India) is the body
that operates the deposit insurance system.
To download more information click the following link : DICGC
(Website : www.dicgc.org.in )
To download more information click the following link : DICGC
(Website : www.dicgc.org.in )
