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 12th December 2018 (BOD Resolution Dated 07/12/2018)

PERIOD

 Rate of Interest

31 Days upto 90 Days

6.25%

91 Days upto 180 Days

6.75%

181 Days upto 1 Year

7.50%

Above 1 Year upto 2 Years

8.50%

Above 2 years upto 5 years

9.25%

5 years & Above

8.75%

 

  • Minimum period is 15 months for Sreenidhi Cash Certificate & Recurring Deposits.
  • "Bulk Deposits" means Single rupee term deposits of Rs.15.00 Lakhs & above.
  • 0.50% extra for SENIOR CITIZENS (60 Years and above) for the deposits of One year and above.
  • 0.50% extra for BULK DEPOSITS for one year & above period