Domestic Bulk Term Deposits

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Domestic Term Deposit Interest Rates

Revision in Interest Rates on Domestic Bulk Term Deposits (Rs. 2 Crores and above) W.E.F. 08.01.2021

The revised Interest rates on 'Domestic Bulk Term deposits (Rs.2 Crore and above) will be as per following table:

(All figures in % per annum)

Tenors Existing Rates For Public w.e.f. 27.05.2020 Revised Rates For Public w.e.f 08.01.2021 Existing Rates for Senior Citizens w.e.f. 27.05.2020 Revised Rates for Senior Citizen w.e.f. 08.01.2021
7 days to 45 days 2.90 2.90 3.40 3.40
46 days to 179 days 2.90 2.90 3.40 3.40
180 days to 210 days 2.90 3.00 3.40 3.50
211 days to less than 1 year 2.90 3.00 3.40 3.50
1 year to less than 2 years 2.90 3.00 3.40 3.50
2 years to less than 3 years 3.00 3.00 3.50 3.50
3 years to less than 5 years 3.00 3.00 3.50 3.50
5 years and upto 10 years 3.00 3.00 3.50 3.50

Premature payment of Bulk term deposits:

Premature penalty for Bulk Term Deposits for all tenors will be 1%. It will be applicable for all new deposits including renewals. There is no discretion for reduction/waiver of penalty for premature withdrawal of term deposit

The revised rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits. The interest rates on NRO term deposits shall be aligned as per the rates for domestic term deposits. These rates of interest shall also be made applicable to domestic term deposits from Cooperative Banks.

DIR for Bulk Deposits :

DIR for Rupee Bulk Deposits
 Type of Deposit Value Term Rate of interest Valid for
 Bulk Deposits Rs. 200 crore 12 days 3.20% 21.10.2021
Rs.100 – 900 crore 54 days 3.18%

Last Updated On : Friday, 22-10-2021

Interest Rates

6.70%* p.a.

w.e.f. 01.05.2021

*T&C Apply.

 

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