Resident Term Deposit Interest Rates
We understand your preference for ‘Safety, Liquidity and Return', while choosing your bank. Hence we remain committed to ensure that your Fixed deposits with us earn handsome returns too, by way of interest. We are transparent in communicating the interest rates and charges of our bank on deposits.
Please do visit this page often since these deposit interest rates are subject to periodic revision. Resident Term Deposits interest rates are also applicable to Resident Cash Certificate, Federal Savings Fund, Federal Tax Savings Deposits and NRO Fixed Deposits
Interest rates for Resident Term Deposits effective from 16-10-2024 (Rates in % p.a)
| Period | Single Deposit Less than ₹300 Lakhs - General Public | Single Deposit Less than ₹300 Lakhs - Senior Citizen |
|---|---|---|
| 7 days to 29 days | 3.00% | 3.50% |
| 30 days to 45 days | 3.50% | 4.00% |
| 46 days to 180 days | 5.50% | 6.00% |
| 181 days | 6.50% | 7.00% |
| 182 days to less than 1 year | 6.25% | 6.75% |
| 1 year to 399 days | 6.80% | 7.30% |
| 400 days | 7.35% | 7.85% |
| 401 days to 776 days | 7.05% | 7.55% |
| 777 days | 7.40% | 7.90% |
| 778 days to less than 3 years | 7.05% | 7.55% |
| 3 years to less than 50 months | 7.00% | 7.50% |
| 50 Months | 7.40% | 7.90% |
| Above 50 months to less than 5 years | 7.00% | 7.50% |
| 5 years and above | 6.60% | 7.25% |
Effective Annualized Rate of Return for Resident/NRO Term Deposit (single deposits of less than ₹300 Lakhs)
|
Period |
Rates of Interest (Deposit Less than ₹3 Cr) |
|
|
General Public |
Senior Citizen* |
|
|
1 year to less than 15 months |
7.55% |
8.05% |
|
15 months to less than 2 years |
7.45% |
7.95% |
|
2 years to less than 3 years |
7.30% |
7.80% |
|
3 years to less than 5 years |
7.25% |
7.75% |
|
5 years |
6.85% |
7.50% |
* NRO Accounts are not eligible for the benefit of Senior Citizen Rates.
Effective Annualized Rate of Return for Deposit Plus Scheme (Non-Callable) - Resident Term Deposits without option for Premature Withdrawal
Effective Annualized Rate of Return for Deposit Plus Scheme (Non-Callable) - Resident Term Deposits without option for Premature Withdrawal
| File name | Description | |
| HVD Web Interest- 08.11.2024 | Interest rates for Resident & NRE Term Deposits of Rs.3 crore and above | (189.06) KB |
| File name | Description | |
| HVD-NW webinterest 07.11.2024 | Interest rates for Resident & NRE Term deposit (Non Withdrawable) of Rs 3 Crore and above | (150.74) KB |
Penalty for premature withdrawal of Rupee Term Deposits Opened/Renewed w.e.f 21.10.2022
1. Revised Premature withdrawal penalty structure for Rupee Term deposits
|
Period of Deposit* |
Penal Interest |
|
|
Single deposit of less than ₹3 Crores |
Single deposit of ₹3 Crores and above |
|
|
Up to and including 15 days |
0% |
1% |
|
Above 15 days |
1% |
1% |
*Period for which the deposit is maintained with the Bank, irrespective of the contracted tenor
2. Premature withdrawal penalty structure for Smart Deposit Scheme
|
Period of Deposit |
Penal Interest |
|
Up to and including 90 days |
0% |
|
Above 90 days |
1% |
