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Revision in Interest Rates On Domestic Rupee Term Deposits
The Bank has revised interest rates w.e.f. 01.11.2008 on Domestic Rupee Term Deposits for various maturity buckets of deposits less than Rs.15 lakh and for Rs.15 lakh & above but less than Rs.10 crore as given below:
DOMESTIC RUPEE TERM DEPOSITS
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Maturity
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(% p. a.)
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For deposits
less than
Rs.15 lakh
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For deposits of Rs.15 lakh & above but less than Rs.10 crore
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Existing
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Revised
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Existing
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Revised
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07 days to 14 days *
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3.00
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3.00
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3.00
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3.00
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15 days to 30 days
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4.50
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4.50
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4.50
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4.50
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31 days to 45 days
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4.50
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4.50
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4.50
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4.50
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46 days to 90 days
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5.25
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5.25
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5.25
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5.25
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91 days to 179 days
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5.75
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5.75
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5.75
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5.75
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180 days to 269 days
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8.00
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8.00
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8.00
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8.00
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270 days to 364 days
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8.00
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8.00
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8.00
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8.00
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1 year to 399 days
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9.75
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10.00
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9.75
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10.00
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400 days
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10.00
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10.50
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10.00
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10.50
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401 days to less than 2 years
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9.75
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10.00
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9.75
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10.00
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2 years to less than 3 years
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9.75
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9.75
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9.75
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9.75
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3 years to less than 5 years
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9.75
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9.75
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9.75
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9.75
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5 years and above
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9.75
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9.75
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9.75
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9.75
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* Minimum Deposit Rs.1 lakh.
Effective Annualised Rate of Return (Indicative only)
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Maturity
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For deposits less than Rs.15 lakh
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For deposits of Rs.15 lakh & above but less than
Rs.10 crore
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Rate of Interest
(%) p.a.
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Annualised Rate of Return at minimum of the maturity bucket %
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Rate of Interest
(%) p. a.
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Annualised Rate of Return at minimum of the maturity bucket %
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180 days to 269 days
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8.00
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8.08
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8.00
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8.08
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270 days to 364 days
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8.00
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8.00
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8.16
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1 year to 399 days
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10.00
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10.38
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400 days
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10.50
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10.92
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10.50
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10.92
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401 days to less than 2 years
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2 years to less than 3 years
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9.75
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10.62
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9.75
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10.62
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3 years to less than 5 years
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9.75
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11.16
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9.75
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11.16
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5 years and above
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9.75
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12.37
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9.75
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12.37
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The interest rate on Floating Rate Deposit Scheme will be 0.25% over the Term Deposit rates applicable for the relevant tenures of deposits for maturities of three years and above (i.e. our anchor rate); on the day the deposit is made. The rate will be reset at the beginning of each calendar quarter in case of change in our anchor rate.
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 uniformally till further notice. Senior Citizens Ex-Staff members will get 0.5% p.a. additional interest for their deposits for periods of 6 months and above on fresh/renewal of deposits upto amount of Rs. 15 lakhs only (Branch Circular No. 102/27 dated 07.05.2008) over and above the additional rate of 1% p.a. applicable to staff members..
The revised interest rates on Domestic Rupee Term Deposits will be applicable only on fresh deposits and on renewal of maturing deposits w.e.f. 01.11.2008.
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