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Rates Of
Interest On Non- Resident Deposit Schemes
|
Period |
Rates
Of Interest* (%p.a.) |
NRO
Accounts
W.E.F. 01.10.2008 |
Saving
Term
Deposits
|
| PERIOD |
Rate
of Interest |
Annualized
Yield at the minimum stage of the slab |
| 7
Days to 14 Days* |
4.00% |
4.00% |
| 15
Days to 45 Days |
5.25% |
5.25% |
| 46
Days to 90 Days |
5.50% |
5.50% |
| 91
Days to 120 Days |
6.00% |
6.00% |
| 121
Days to 179 Days |
8.00% |
8.00% |
| 180
Days to 364 Days |
9.00% |
9.10% |
|
1 year to 2 years |
10.60% |
11.03% |
|
Above 2 years to 3 years |
9.50% |
10.33% |
|
Above 3 years |
9.25% |
10.52% |
*
Minimum Rs. 1.00 Lacs |
-
Additional interest @ 0.25% over the normal rate for
maturity period of 1 year to 2 years and
@ 0.50% over the normal rate for other maturity
periods will be given to resident senior
citizens.
-
Additional interest @ 1.00% over the normal rate will
be given to members / retired members of staff.
However, in case of
senior citizens who are also retired
members of staff, only the benefit of 1.00%
additional interest payable in capacity of
retired member of staff will continue.
-
Penalty for premature payment as well as premature renewal
of term deposits accepted and renewed on or
after 04.12.2006 will be charged in the form
of interest @ 1.00% below the rate applicable
for the period for which the deposit has remained
with the Bank as per Circular No. 58/Dep/20/8121/2006
dated 02.12.2006.
-
Other terms and conditions stated in the previous circular
remain the same.
-
It may further be noted that above mentioned rates of
interest are not applicable on Interbank deposits.
Branches are advised to approach T&I Deptt.
for acceptance / placement of inter bank deposits
and should continue to be guided by circular
No. 51/Dep/15/5609/99 dated 14.12.1999 for
such deposits.
-
Branches are advised to approach Shri B.S. Gupta, Product
Head(Deposits), Corporate Office, Mumbai for
quoting / bidding higher interest rates on
bulk deposits of Rs. 50 lacs & over. However,
in cases where the deposits have been accepted
at rates higher than the card rates, the interest
in case of premature payment should be paid
at the applicable card rate for the period
for which the deposit has actually run with
penalty as applicable and higher preferential
rate should not be paid.
|
NRE
Accounts
W.E.F 16.11.2008 |
Saving
Term
Deposits |
| Maturity
Period |
Interest
Rate % P.A. |
| 1
Year to Less than 2 Years |
4.92
% |
| 2
Years to less than 3 Years |
4.11
% |
| 3
Years and Above |
4.89 % |
|
Note
:
- No
penalty is applicable on premature withdrawal of NRE.
- The
rates for single deposit of Rs. 50 lacs and above would
be decided by the central office.
- The
revised structure of interest rate on NRE term deposits
will be applicable on Fresh Deposits and on deposits renewed
after their present maturity.
Rates
of Interest on FCNR (Banks) Accounts
w.e.f
16.11.2008
| PERIOD |
USD |
GBP |
EURO |
| 1
year and above but less than 2 years |
4.17 |
7.01 |
5.87 |
| 2
year and above but less than 3 years |
3.66 |
5.18 |
4.59 |
| 3
year and above but less than 4 years |
4.14 |
5.32@ |
4.70@ |
| 4
year and above but less than 5 years |
4.49 |
-- |
-- |
| 5
Years only |
4.76 |
-- |
-- |
-
@
for three years only.
-
Rates
of Interest are in (Percent per annum)
-
FCNR(B)
Scheme allow term deposits upto a maximum
period of 3 years with interest compounded
half-yearly.
-
Rates
are subject to directives issued by the
reserve bank of India and are liable to
change without notice.
-
Interest
paid at half -yearly intervals or along
with principal at maturity as per scheme.
-
FCNR(B)
. Scheme is available for a maximum maturity
period of 5 years in case of USD.
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© 2000 The Bank Of Rajasthan Ltd.
All rights reserved.