Fixed Deposit (FD)
(Interest - Half Yearly , Quarterly, Monthly )
Eligibility: Individuals (singly or jointly), Minor by guardian, Organizations, Co-op. Societies
Minimum Balance: Rs. 1000/- and further rise in multiples of Rs. 100/- Rate Of Interest { CURRENT INTEREST RATES }
Special Features/Facilities: TDS applicable Form 15H/15G required to be submitted for exemption of TDS. If you are exempt from paying tax, you need to present Form 15H when you open a Fixed Deposit and subsequently at the beginning of the following financial year.
Charges / Penalty: In case of payment before maturity Interest upto 30 days will be Nil Above 30 days : 1% less than applicable rate of Interest for the actual period for which deposit is kept with the Bank. Account closure : As above, if payment is before maturity .
RATE OF INTEREST ON FIXED DEPOSITS With effect from 26th-December-2022 (BOD Resolution Dated 21/12/2022)
|
PERIOD |
Rate of Interest |
|
31 Days upto 90 Days |
4.75% |
|
91 Days upto 180 Days |
5.50% |
|
181 Days upto 1 Year |
6.50% |
|
Above 1 Year upto 2 Years |
6.75% |
|
Above 2 Year upto 3 Years |
7.00% |
|
Above 3 years upto 5 years |
7.25% |
|
5 years & Above |
6.50% |
- Minimum period is 15 months for Sreenidhi Cash Certificate & Recurring Deposits.
- 0.50% Extra for SENIOR CITIZENS (60 Years & above) for the deposits of all periods.
- Higher rate of interest of 0.50% extra for BULK DEPOSITS of Rs.1.00 Crore and above invested at a time for a period of one year and above.