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Term Deposit

Secure your savings and grow your wealth with our flexible Term Deposit schemes. Whether planning for the future or seeking higher returns on your surplus funds, our fixed deposits offer attractive interest rates along with the option to avail loans against your deposits. Enjoy financial growth while keeping your money safe and accessible.

Interest Rates on Fixed Deposits (Effective from May 20, 2025)
Tenure General Public / Trusts / Society / Corporates Senior Citizens
SDR / MIP / FDR / RD / QIRP SDR / MIP / FDR / RD / QIRP
** Deposits from 7 days to 364 days are classified as Short Term Deposits (SDR)
7 days - 44 days 2.75% 3.00%
45 days - 90 days 5.00% 5.50%
91 days - 180 days 5.50% 6.00%
181 days - 364 days 6.05% 6.30%
12 months – 13 months 7.25% 7.75%
14 months – 24 months 7.15% 7.65%
25 months – 36 months 7.10% 7.60%
MIP / FDR / RD MIP / FDR / RD
Above 3 years - upto 5 years 6.75% 7.25%
Above 5 years - upto 7 years 7.00% 7.50%
Above 7 years - upto 10 years 7.00% 7.50%
ANNAPURNA TAX BENEFIT SCHEME – Tax benefit up to ₹1.5 lakhs per investor under Section 80C
Scheme FDR
Applicable to all categories (Individual / HUF / Senior Citizen) ATBS (Fixed Deposit)
5 Year Tenure – No premature withdrawal allowed 5.90%

Terms & Conditions Apply

  • MIP: Monthly Interest Paid at a discounted rate.
  • Interest rates for FDR/MIP/RD/QIRP are applicable to all NRE and NRO deposits. NRE deposits must be for a minimum period of one year, with interest rates as per general public rates.
  • Interest rates are subject to change at the sole discretion of the Bank.
  • Premature withdrawal will attract a 1% penalty on the interest rate for all deposit categories.
  • Minimum tenure for RD, MIP, FDR, and QIRP is 12 months.
  • Locker Deposit Scheme (LODP) offers interest at 6.75% for 36 months for Individuals, HUFs, and Senior Citizens.
  • Auto Sweep Facility interest rate is flat 5.50% for all normal resident entities.
  • No interest is paid for deposits withdrawn before 7 days.

Who can open a Term Deposit Account?

  • Individuals (Single or Joint accounts)
  • Minors (operated by natural guardian or court-appointed guardian)
  • Trusts (Private or Public)
  • Partnership Firms
  • Limited Companies (Private and Public)
  • Clubs, Associations & Societies

Documents Required to Open a Term Deposit Account

  • Duly completed account opening form
  • PAN Card or Form 60 (if PAN is not available)
  • Proof of Residence of the applicant(s)
  • Photo identification proof of the applicant(s)
  • Proof of age for senior citizens
  • Recent passport-sized color photographs of Partner(s)/Director(s)
  • Introduction by an existing bank customer with an account of at least 6 months, or introduction letter from your existing bank verifying signature
  • Partnership deed and registration receipt (for Partnership firms)
  • Memorandum and Articles of Association, and board resolution (for Companies)
  • Board resolution or relevant resolution (for Associations)

Short Term Deposit (SDR)

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Enjoy the benefits of liquidity with our Short Term Deposit, ideal for durations from 7 days up to 364 days.

Key Features

  • Minimum opening balance of ₹1,000
  • Flexible tenure from 7 days to 364 days
  • Interest paid along with principal on maturity
  • Loan facility up to 90% of accumulated deposit
  • Competitive interest rates as per prevailing rates

Disclaimer

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