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Domestic Term Deposit Interest Rate

Interest Rates on Saving Bank Deposits with effect from 15th SEP 2023.

 
Particular Rate of Interest
Saving Bank Deposit including NRE/NRO Revised Rates
w.e.f 15.09.2023 (% p.a)
Upto 1 Crore 2.70%
Above 1 Crore to upto 50 Crore 2.90%
Above 50 Crore to upto 100 Crore 4.52%
Above 100 Crore to upto 500 Crore 4.55%
Above 500 Crore 5.00%
 

Rate of interest on domestic term deposits, NRO accounts, capital gain accounts scheme 1988, recurring deposit scheme and psb fixed deposit tax-saver scheme

 
Revised w.e.f. 01/02/2024 (% p.a.)
Maturity

Fixed Deposit

Less than Rs.2 Cr

7 - 14 Days 2.80(#)
15 - 30 Days 2.80
31 - 45 Days 3.00
46 - 90 Days 4.25
91 - 120 Days 4.25
121-150 Days 4.75
151 - 179 Days 4.75
180 – 221 Days 5.25
222 Days 7.00($)
223 – 269 Days 5.25
270 – 332 Days 5.50
333 Days 7.15($)
334-<1 Year 5.50
1 Year 6.20
>1 Years - 443 Days 6.00
444 Days 7.40($)
445 Days - 2 Years 6.00
Above2Years-<3Years 6.30
3Years - 5Years 6.00
>5 Years - 10 Years* 6.25

(#) Minimum amount of term deposit shall be Rs. 1.00 lac

($) Valid for period upto 31.03.2024 only.

(*) FDRs issued for special purpose (under direction of court etc.), the term may exceed 10 years. The effective ROl for the same shall be as applicable for 5Y-10Years' bucket

  1. Note:
  2. Senior Citizens shall be given benefit of additional interest of 0.50% on term deposits of less than Rs. 2 crore, over and above the mentioned rates for the maturity of 180 days & above on fresh as well as on renewal of term deposits, same shall not be available to NRE, NRO deposits, capital gain and Bulk deposits. 
  3. Super Senior Citizens (80 Years & above) shall be given benefit of additional interest of 0.15% on specific period (i.e.444 Days) Term Deposits of less than Rs. 2 crore,  for the maturity of 180 days & above on fresh as well as on renewal of term deposits, same shall not be available to NRE, NRO deposits, capital gain and Bulk deposits. 
Click Here for Bulk Deposit Rates
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