Special Term Deposit
This product is a variant of Term Deposits but instead of Interest being paid out at a regular frequency during the period of deposit; here it is paid out only at the time of maturity. Regular interest is added to the principal and compound interest calculated and paid thereon.
Features
- Minimum period of deposit - 6 Month
- Maximum period of deposit- 10 Years
- Available at all branches
- Minimum deposit: Rs. 1,000/-, Maximum deposit: No upper Limit
- A deposit of Rs. 1 cr and more is treated as bulk deposit
- Interest on deposit is compounded quarterly and paid to depositor at the end of the term
- Nomination available in favour of individual only
- Term Deposit (together with interest) of Rs. 20000/- and above shall not be paid in cash.
- Transferability allowed among our branches
- TDS is applicable as per Income Tax Rules. Form 15G/H can be submitted by the depositor for exemption from tax deduction as per IT Rules
Loan against deposit is allowed with applicable margin as under
| TENURE OF DEPOSIT | MARGIN |
|---|---|
| >12 MONTHS | 15% |
Eligibility
Below are the individuals and entities eligible for a Regular Fixed Deposit:
- Resident Individuals singly or Jointly
- Minor ( himself/herself or through his/her Guardian )
- Hindu Undivided Families
- Sole Proprietorship Firms
- Partnership Firms
- Limited Companies
- Trust Accounts
- Local Bodies and any Government Department.
Terms and Conditions
- Premature closure available
The revised Interest rates on Term Deposits will be as under: w.e.f 25.07.2025
Savings Bank Account: 2.50% per annum.
| Sl No. | Period | Term Deposits Rate Below 1 Crore | Term Deposits Rate 1 Crore & Above |
|---|---|---|---|
| Proposed Rates (w.e.f 25.07.2025) |
Proposed Rates (w.e.f 25.07.2025) |
||
| 1 | 7 days to 14 days | 3.50% | 2.90% |
| 2 | 15 days to 30 days | 3.50% | 5.00% |
| 3 | 31 days to 60 days | 3.75% | 5.15% |
| 4 | 61 days to 179 days | 5.00% | 5.15% |
| 5 | 180 days to 270 days | 6.10% | 6.00% |
| 6 | 271 days to 364 days | 6.15% | 6.00% |
| 7 | 1 year to less than 2 years | 6.70% | 6.30% |
| 8 | 2 year to less than 3 years | 6.70% | 6.30% |
| 9 | 3 years to less than 5 years | 6.50% | 6.30% |
| 10 | 5 year to 10 years | 6.50% | 6.30% |
*Accordingly, it is proposed to reduce the interest rate on the “RD- Nethanna Podhupu” Special scheme- mandated for a 24 month term from 7.35 % to 6.75% for Normal Citizen.
Special schemes
Dasara Diwali Dhamaka (444-DDD) |
RD- Nethanna Podhupu |
Enjoy higher returns on your savings and deposits with our competitive interest rates among the best in the market. Grow your money faster with the trust and security of our bank.
Note:
a) The above rates are applicable for NRE and NRO deposits also.
b) Senior Citizens will get an additional interest of 0.50% p.a. over card rate for one year and
above term deposits only.
c) Revised interest rates on deposit are applicable to new deposits and also for the existing
deposits on their renewal.
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