Deposit Rates from PSU banks

Why this Post :
We are in extraordinary times since the deposit rates are back again to 10 % . 10 is a number around which economist predict a recession ahead , especially for a growing economy such a number is a huge anomaly . Economics aside any rate of interest above 8 is considered good return on investment . What i attempted here is to consolidate the rates offered by Indian PSU banks on term deposits and recurring deposits . It will be a great idea to keep small amount in long term FD or better still open an RD of long tenure for kids or other planned expenses 🙂 .

This post was created to make a starting point for your decision making .

Some points to consider .
1. FDs and RD’s can be put as collateral against loan (usually .5 % high that FD rate ) .
2. Senior citizens are offered half a percent more rate of interest ! You may put money on names of your parent completely or you may open a joint FD with your parents name as first and yours as second . In this case you will get rate applicable to senior citizen and you will still hold legal claim on the FD .
3. Some banks started to offer floating rate FDs , which personally dis favour (FD and insurance should be simple) .
4. RBI may hike rates again so don’t park it all .

A good strategy is to split your desired amount into 3 or 4 parts and create FDs of 6 month , 1 year and 2 year duration . This way in case of need you are not forced to break the entire big FD for urgent need . If all goes well then you can keep on rolling the short term FDs . One need to work out parts and duration on his / her personal need .

Limitation of this Post : .
1. Banks generally offer different rates for deposits of below 1 lakh , 1 to 15 lakh and above 1 crore . Its better to check at branch for such caps .
2. Different banks offer diff penalty for premature withdrawal , this post does not cover that .
3. Since the environment is competative , your bank may offer a limited period higher rate under some scheme .
4. Private sector bank and co-operative banks are not considered .

Public Sector Banks
Sr.No	Public Sector Banks	Web Site
1	Allahabad Bank	www.allahabadbank.in
2	Andhra Bank	www.andhrabank.in
3	Bank of Baroda	www.bankofbaroda.com
4	Bank of India	www.bankofindia.com
5	Bank of Maharashtra	www.bankofmaharashtra.in
6	Canara Bank	www.canarabank.com
7	Central Bank of India	www.centralbankofindia.co.in
8	Corporation Bank	www.corpbank.com
9	Dena Bank	www.denabank.com
10	IDBI Bank Limited	www.idbi.com
11	Indian Bank	www.indianbank.in
12	Indian Overseas Bank	www.iob.in
13	Oriental Bank of Commerce	www.obcindia.co.in
14	Punjab & Sind Bank	www.psbindia.com
15	Punjab National Bank	www.pnbindia.com
16	State Bank of India	www.statebankofindia.com
17	Syndicate Bank	www.syndicatebank.com
18	UCO Bank	www.ucobank.com
19	Union Bank of India	www.unionbankofindia.co.in
20	United Bank of India	www.unitedbankofindia.com
21	Vijaya Bank	www.vijayabank.com

 

Allahabad Bank : http://www.allahabadbank.in/depositschemes.asp

 

Tenor	Existing Interest Rate p.a. (%)		Revised Interest Rate p.a. (%) (w.e.f. 18.02.2011)
	For below Rs. 1 cr	For Rs.1 cr to less than Rs. 5 cr	For below Rs. 1cr	For Rs.1 cr to less than Rs. 5 cr
7 days to 14 days	2.50	2.50	2.50	2.50
15 days to 29 days	4.00	2.75	4.00	2.75
30 days to 45 days	4.00	3.00	4.00	3.00
46 days to 60 days	5.00	4.00	5.00	4.00
61 days to 90 days	5.00	4.00	5.00	4.00
91 days to 179 days	6.00	5.75	6.00	5.75
180 days to 269 days	7.00	6.25	7.00	6.25
270 days to 364 days	7.50*	6.50	7.75*	7.25
1 year to less than 2 years	8.00**	7.25	8.75**	8.50
2 years to less than 3 years	8.25	6.00	8.50	8.00
3 years to less than 5 years	8.25	6.00	8.50	7.75
5 years and upto 10 years	8.25	6.00	8.00	7.50

 

Andhra Bank : http://andhrabank.in/english/InterestDeposits.aspx

 

Sr No.	Maturity Period	Rates of interest (%) per annum
		Less than Rs.15.00 Lacs	Rs.15.00 Lacs  to < Rs.1.00 crore	Rs.1 crore  to   < Rs.2.00 crore	Rs.2 crore  to Rs.10.00 crore	Above Rs.10.00 crore
1	7 days to 14 days #	3.50	3.50	3.50	3.50	3.50
2	15 days to 45 days	3.50	3.50	3.50	4.50	4.50
3	46 days to 90 days	4.00	4.00	4.00	5.25	5.25
4	91 days to 119 days	6.75	6.75	7.75	7.75	7.75
5	120  to 179 days	6.75	6.75	7.75	7.75	7.75
6	6 months to < 1 year	8.00	8.00	8.00	8.00	8.00
7	1 year to < 16 months	9.00	9.00	9.00	9.50	9.00
8	16 months to < 33 months	9.25	9.25	9.25	9.50	9.25
9	33 months to < 3 years	8.50	8.50	8.50	9.50	8.50
10	3 years to < 5 years	8.60	8.60	8.60	9.50	8.60
11	5 years to 10 years	8.00	8.00	8.00	8.00	8.00

 

Bank of Barod  : http://www.bankofbaroda.com/interest.asp

 

Maturity Range	Deposit [Per Annum] less than 1 crore
7 days to 14 days	4.00%
15 days to 45 days	4.00%
46 days to 90 days	4.00%
91 days to 180 days	6.25%
181 days to 270 days	7.00%
271 days & above but less than one year	7.50%
1 year and upto 443 days	9.00%
Baroda Utsav Deposit scheme (444 days)	9.35%
– 445 – days and upto 3 years	9.00%
Above 3 years upto 10 years	8.50%

 

Bank of India : http://www.bankofindia.com/rupeetermdeposit.aspx

Maturity	For deposits less thanRs. 15 lakh		For deposits Rs. 15 lakh & above but less than Rs. 1 Cr.		For deposits of Rs. 1 Cr. and above but less than Rs. 5 Cr.		For deposits of Rs. 5 Cr. & above
	Existing w.e.f. 04.02.11	Revised w.e.f. 10.03.11	Existing w.e.f. 04.02.11	Revised w.e.f. 10.03.11	Existing w.e.f. 04.02.11	Revised w.e.f. 10.03.11	Existing w.e.f. 04.02.11	Revised w.e.f. 10.03.11
07 days to 14 days *	2.50	2.50	2.50	2.50	2.50	2.50	2.50	2.50
15 days to 30 days	2.75	2.75	2.75	2.75	2.75	2.75	2.75	2.75
31 days to 45 days	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00
46 days to 90 days	4.00	4.00	4.00	4.00	4.00	4.00	4.00	4.00
91 days to 179 days	6.25	7.00	6.25	7.00	6.25	6.25	6.25	6.25
180 days to 269 days	7.25	8.00	7.25	8.00	6.75	6.75	6.75	6.75
270 days to 364 days	7.50	8.00	7.50	8.00	7.00	7.00	7.00	7.00
1 Year to less than 2 Yrs except 555 days	8.75	9.00	8.75	9.00	9.50 on  20.05.2011 will be declared daily)		9.50 on 20.05.2011 (will be declared daily)
555 days #	9.25	9.25	9.25	9.25
2 Years to less than 3 Years	8.25	8.25	8.00	8.00	8.25	8.25	8.25	8.25
3 Years to less than  5 years except for 1111 days	7.75	7.75	7.75	7.75	7.25	7.25	7.25	7.25
1111 Days **	8.25	8.25	8.25	8.25	8.25	8.25	8.25	8.25
5 years to less than 8 years	7.00	8.50	7.00	8.50	7.00	7.00	7.00	7.00
8 years to 10 Years  and above	7.00	8.75	7.00	8.75	7.00	7.00	7.00	7.00

 

Bank of Maharashtra : http://www.bankofmaharashtra.in/int_chart.asp

 

Duration	For amount less than  Rs 1 Cr.		For amount Rs 1 Cr. to Rs 5 Cr.
	Existing rates w.e.f. 10.01.11	Revised rates w.e.f. 16.05.11	Existing rates w.e.f. 10.01.11	Revised rates w.e.f. 16.05.11
7 days to 14 days	2.50	4.00	2.50	6.25
15 days to 30 days	3.50	4.00	3.50	6.25
31 days to 45 days	4.00	4.00	4.00	6.25
46 days to 60 days	5.00	5.00	5.00	6.50
61 days to 90 days	5.00	5.00	5.00	6.75
91 days to 180 days	6.50	6.50	6.50	7.00
181 days to 270 days	7.25	7.25	7.25	7.25
271 days to less than 1 year	7.25	7.25	7.25	7.25
One Year or 365 days	8.55	8.55	9.00	9.00
Over 1 year to less than 3 years	8.55	8.55	8.30	8.30
3 years (Mahalaxmi Term Deposit)	8.60	9.00	8.30	8.30
Over 3 years to 5 years	8.30	8.60	8.30	8.30
Over 5 years	8.00	8.00	8.00	8.00

 

 

Canara bank : http://www.canarabank.com/English/Scripts/DepositAccounts.aspx

 

Term Deposits ( All Maturities)	For Deposits Less than  Rs.1 crore		For Deposits Rs.1 crore  & above to less than Rs.10 crore #
	General Public	Senior Citizen
7 days to 14 days **	4.00	4.50	5.00
15 days to 30 days	4.50	5.00	5.00
31 days to 45 days	4.50	5.00	6.25
46 days to 90 days	5.50	6.00	7.50 *
91 days to 179 days	7.00	7.50	8.00 *
180 days to 269 days	8.00	8.50	8.25 *
270 days to less than 1 year	8.00	8.50	8.25 *
1 year & above to 554 days	9.10	9.60	9.10 *
555 days	9.25	9.75	9.10
556 days & above to less than 2 years	9.10	9.60	9.10 *
2 years & above to 999 days	9.00	9.50	9.00 *
1000 days	9.00	9.50	9.00
1001 days & above to less than 3 years	9.00	9.50	9.00 *
3 years & above to 1199 days	8.50	9.00	8.50
1200 days	9.00	9.50	9.00
1201 days & above to less than 5 years	8.50	9.00	8.50
5 years & above to less than 8 years	8.75	9.25	8.75
8 years & above to 10 years	9.00	9.50	8.75
*  Rates offered on daily basis. Contact the nearest branch.

 

Central Bank of India :Not Given !

 

Corporation Bank : http://www.corpbank.com/asp/0100text.asp?presentID=60&headID=0

MATURITY PERIOD	For Deposits upto & including Rs. 15 lakhs	For Deposits above Rs. 15 Lakhs but less than Rs.1 Crore #
07 DAYS TO 14 DAYS @	1.00	1.00
15 DAYS TO 29 DAYS	3.50	3.50
30 DAYS TO 45 DAYS	5.00	5.00
46 DAYS TO 60 DAYS	5.50	5.50
61 DAYS TO 90 DAYS	5.50	5.50
91 DAYS TO 120 DAYS	6.50	6.50
121 DAYS TO 179 DAYS	7.00	7.00
180 DAYS TO 270 DAYS	8.00	8.00
271 DAYS TO 364 DAYS	8.00	8.00
365 DAYS	9.00	9.00
366 DAYS TO LESS THAN 2 YEARS	9.25	9.25
2 YEARS TO LESS THAN 3 YEARS	9.25	9.25
3 YEARS TO LESS THAN 5 YEARS	9.25	9.25
5 YEARS TO LESS THAN 8 YEARS	8.75	8.75
8 YEARS & UP TO 10 YEARS	8.75	8.75

Dena Bank : http://www.denabank.com/viewsection.jsp?id=0,3,21,125

 

MATURITY PERIOD	For Deposits upto & including Rs. 15 lakhs	For Deposits above Rs. 15 Lakhs but less than Rs.1 Crore #
07 DAYS TO 14 DAYS @	1.00	1.00
15 DAYS TO 29 DAYS	3.50	3.50
30 DAYS TO 45 DAYS	5.00	5.00
46 DAYS TO 60 DAYS	5.50	5.50
61 DAYS TO 90 DAYS	5.50	5.50
91 DAYS TO 120 DAYS	6.50	6.50
121 DAYS TO 179 DAYS	7.00	7.00
180 DAYS TO 270 DAYS	8.00	8.00
271 DAYS TO 364 DAYS	8.00	8.00
365 DAYS	9.00	9.00
366 DAYS TO LESS THAN 2 YEARS	9.25	9.25
2 YEARS TO LESS THAN 3 YEARS	9.25	9.25
3 YEARS TO LESS THAN 5 YEARS	9.25	9.25
5 YEARS TO LESS THAN 8 YEARS	8.75	8.75
8 YEARS & UP TO 10 YEARS	8.75	8.75

 

 

IDBI :  http://www.idbi.com/interest_rate.asp

 

Tenor	Upto 15 Lac (%)	Above Rs.15 lakh upto Rs.1 cr (%)
15-45 days	4.50	4.50
46-90 days	6.50	6.50
91 days – < 6 months	7.75	7.75
6 months- 269 days	8.15	8.15
270 days- 1 year	8.50	8.50
1 year 1 day-499 days	9.00	9.00
**500 days	9.50	9.50
501 days	9.00	9.00
> 501 days – 5 yrs	9.25	9.25
>5 yrs-7 yrs	9.25	9.25
>7 yrs – 10 yrs	9.00	9.00

 

Indian Bank :  http://www.indianbank.in/rate_deposit.php

 

 

 

Period		Upto Rs 5 Crore
7days to 14 days		6.25
15 days to 29 days		6.25
30 days to 45 days		6.25
46 days to 90 days		6.25
91days to 120 days		7.00
121 days to 180 days		7.50
181 days to less than 9 months		7.75
9 months to less than 1 year		7.75
1 year to 3 years		9.25
Above 3 years		9.00

 

Indian Overseas Bank : http://www.iob.in/Rates_at_a_glance.aspx

 

up to Rs.25 lakhs > Rs.25 lakhs to < Rs. 1 cr Rs.1 Cr to < Rs 5 Crs Rs. 5 crs and above 7 days – 14 days (only for single deposit of Rs.1.00 lakh and above) 4.50 4.50 4.50 4.50 15 days – 29 days 4.50 4.50 4.50 4.50 30 days – 45 days 6.25 6.25 6.25 6.25 46 days – 60 days 6.25 6.25 6.25 6.25 61 days – 90 days 6.25 6.25 6.25 6.25 91 days – 120 days 7.00 7.00 7.00 7.00 121 days – 179 days 7.00 7.00 7.00 7.00 180 days – 269 days 7.25 7.25 7.25 7.25 270 days -332 days 7.50 7.50 7.50 7.50 333 days (#) 8.25 8.25 8.25 8.25 334 days – < 1 year 7.50 7.50 7.50 7.50 1 Yr – 443 days 9.25 9.25 9.25 9.25 444 days(#) 9.25 9.25 9.25 9.25 445-554 days 9.25 9.25 9.25 9.25 555 days (#) 9.25 9.25 9.25 9.25 556 days -<2yrs 9.25 9.25 9.25 9.25 2 Yrs -to999 days 9.25 9.25 9.25 9.25 1000 days(#) 9.25 9.25 9.25 9.25 1001 days- 3 Yrs 9.25 9.25 9.25 9.25 > 3 Yrs – < 5 Yrs 9.25 9.25 9.25 9.25 5 Yrs & above 9.00 9.00 9.00 9.00

 

OBC :  https://www.obcindia.co.in/obcnew/site/inner.aspx?status=R1&menu_id=13

 

 

Maturity period (Buckets)	Term Deposits less than Rs. 15 Lacs	Term Deposits of Rs. 15 Lacs and above but less than Rs.1Crore	Term Deposits of Rs. 1 Crore & above
7 days to 14 days	4.00%	4.00%	4.00%
15 days to 30 days	4.50%	4.50%	4.50%
31 days to 45 days	5.00%	5.00%	5.00%
46 days to 90 days	5.75%	5.75%	5.75%
91days to 179 days	7.00%	7.00%	8.75%
180 days to 269 days	8.00%	8.00%	8.75%
270 days to less than 1 Year	8.00%	8.00%	9.00%
1 year to less than 2 years	9.25%	9.25%	9.50%
2 years to less than 3 years	9.25%	9.25%	9.25%
3 years to less than 5 years	9.00%	9.00%	9.00%
5 years to 10 years	8.75%	8.75%	8.75%

 

Punjab and Sindh Bank : http://www.psbindia.com/interestdom.php

 

 

REVISED RATES Effective From 29.04.2011
Maturity	UPTO Rs 15 lac	Above Rs 15 lac to Rs 1 Crore	Above Rs. 1 Crore to 5 Crore
7 – 14 Days	4.00#	4.00	4.00
15 – 30 Days	4.50	4.50	4.50
31 – 45 Days	4.50	4.50	7.25
46 – 90 Days	6.50	6.50	7.75
91 – 179 Days	7.50	7.50	8.25
180 -269 Days	8.25/ 8.75*	8.25/ 8.75*	8.30
270 – 364 Days	8.75	8.75	8.75
1 Year-2 Years	9.00/ 9.55**	9.00/ 9.55**	9.30
Above 2 Years – <3 Years	9.25/ 9.60***	9.25/ 9.60***	9.25
3 Years – 5 Years	9.05	9.05	9.50
>5 years – 10 years	8.75	8.75	9.50

 

 

 

PNB :  https://www.pnbindia.in/En/ui/DepositInterestRates.aspx

 

Sl. No	Period	Below Rs. 1 Crore	Rs. 1 Cr. To Rs. 10 Cr.
1	7 to 14 days	4.00	4.00
2	15 to 45 days	4.50	4.50
3	46 to 60 Days	5.50	6.00
4	61 to 90 Days	5.50	7.50
5	91 to 179 days	7.00	8.00
6	180 days to 270 Days	8.00	8.50
7	271 days to less than 1 year	8.00	8.50
8	1 year	9.00	9.00
9	More than 1 year to 554 Days	9.00	8.75
10	555 Days	9.05	8.75
11	556 Days to < 2 years	9.00	8.75
12	2 years to 999 Days	9.00	8.50
13	1000 Days	9.15	8.50
14	1001 Days to < 3 years	9.00	8.50
15	3 years to 1110 Days	8.50	8.50
16	1111 Days	9.25	8.50
17	1112 Days to < 5 Years	8.50	8.50
18	5 years to 10 years	8.75	8.75

 

 

SBI : http://www.statebankofindia.com/user.htm

 

Tenors	Existing w.e.f. 14.02.2011		Revised w.e.f.12.05.2011
7 days to 14 days	4.00	7 days to 14 days	6.25
15 days to 45 days	5.00	15 days to 45 days	6.25
46 days to 90 days	5.50	46 days to 90 days	6.25
91 days to 180 days	6.00	91 days to 180 days	7.00
181 days to less than 1 year	7.75	181 days to less than 1 year	7.75
1 year to 554 days	8.25	1 year to 554 days	8.25
555 days	9.25	555 days	9.25
556 days to less than 2 years	8.25	556 days to less than 2 years	8.25
2 years to 999 days	8.75	2 years to 999 days	8.75
1000 days	9.25	1000 days	9.25
1001days to less than 3 years	8.75	1001days to less than 3 years	8.75
3 year to less than 5 years	8.25	3 year to less than 5 years	8.25
5 years to less than 8 years	8.50	5 years to less than 8 years	8.50
8 years and up to 10 years	8.75	8 years and up to 10 years	8.75

 

Syndicate Bank : http://syndicatebank.in/scripts/Depositinterestrates.aspx

Period of Deposit	Existing rates of interest w.e.f. 02.05.2011 (%) p.a.	Revised rates of interest w.e.f. 06.05.2011 (%) p.a.
7 days to 14 days *	3.50	3.50
15 days to 30 days	4.00	4.00
31 days to 45 days	4.50	4.50
46 days to 90 days	5.50	5.50
91 days to 120 days	6.60	7.00
121 days to 180 days	7.50	8.00
181 days to  269 days	8.00	8.50
270 days to  364 days	8.50	9.00
1 year to 439 days	9.25	9.55
440 days	9.35	9.75
441 days to less than 2 years	9.25	9.55
2 years to less than 3 years	9.25	9.50
3 years to 5 years(inclusive)	9.25	9.50
Above 5 years & up to 10 years	9.25	9.50

 

UCO Bank : http://www.ucobank.com/interest_rates.htm

 

	Revision in Rate w.e.f. 11.4.2011
Maturity Period	General		For Senior Citizen
	Interest Rate in %  p.a.	Annualised Yield in %	Interest Rate in %  p.a.	Annualised Yield in
7 Days up to 14 days	5.00	5.00	5.75	5.75
15-29 DaysLess than Rs.15 Lac	5.00	5.00	5.75	5.75
RS.15 lac and up to Rs.5.crores	5.00	5.00	5.75	5.75
30-45 DaysLess than RS.15 LAC	6.00	6.00	6.75	6.75
RS.15 lac and up to Rs.5.crores	6.00	6.00	6.75	6.75
46-60 daysLess than RS.15 LAC	6.75	6.75	7.50	7.50
RS.15 lac and up to Rs.5.crores	6.75	6.75	7.50	7.50
61-90 DaysLess than RS.15 LAC	7.00	7.00	7.75	7.75
RS.15 lac and up to Rs.5.crores	7.00	7.00	7.75	7.75
91-180Days Less than RS.15 LAC	7.75	7.75	8.50	8.50
RS.15 lac and up to Rs.5.crores	7.75	7.75	8.50	8.50
181-364 DatsLess than RS.15 LAC	8.25	8.33	9.00	9.10
RS.15 lac and up to Rs.5.crores	8.25	8.33	9.00	9.10
1 YearLess than RS.15 LAC	9.00	9.31	9.50	9.84
RS.15 lac and up to Rs.5.crores	9.00	9.31	9.50	9.84
More than 1 year but up to 2 yrs.Less than RS.15 LAC	9.25	9.55	9.75	10.11
RS.15 lac and up to Rs.5.crores	9.25	9.55	9.75	10.11
Above 2 yrs and up to 3 trsLess than RS.15 LAC	9.00	9.74	9.50	10.33
RS.15 lac and up to Rs.5.crores	9.00	9.74	9.50	10.33
Above 3 year and less than 5 yearsLess than RS.15 LAC	9.00	10.20	9.50	10.84
RS.15 lac and up to Rs.5.crores	9.00	10.20	9.50	10.84
5 years and aboveLess than RS.15 LAC	9.00	11.21	9.50	11.98
RS.15 lac and up to Rs.5.crores	9.00	11.21	9.50	11.98
7 Days up to 14 days	5.00	5.00	5.75	5.75

 

Union Bank of India :  http://www.unionbankofindia.co.in/Domestic.aspx

Less than Rs. 15 lacs	Rs.15 lacs to  < Rs. 1 cr.	Tenor		Rs. 1 cr.  <  Rs. 10  Crs.
4.00	4.00	7-14 days	4.00
4.75	4.75	15-45 days	4.75
5.25	5.25	46 to  90 days	5.25
7.00	7.00	91 days < 6 Months	7.00
8.00	7.75	6 Months  < 9 Months	7.75
8.25	8.15	9 Months < 1 Yr	8.15
9.25	9.15	1 yr < 5yrs	9.00
9.40	9.00	5 yrs.	8.75
9.40	8.50	> 5 yrs   < 8  yrs.	8.50
8.50	8.50	8 Yrs to 10 Yrs	8.50

 

United Bank of India :  http://www.unitedbankofindia.com/English/RatesDeposit.aspx

 

 

Sl. No.	Period of Deposit	Revised Rates w.e.f 21st Mar. 2011
		Other than Sr. Citizen	Addl. Rate for Sr. Citizen
1	7 days to 14 days	3.50	0.00
2	15 days to 29 days	4.50	0.00
3	30 days to 45 days	4.50	0.00
4	46 days to 60 days	5.50	0.00
5	61 days to 90 days	5.50	0.00
6	91 days to 180 days	6.50	0.00
7	181 days to 269 days	7.25	0.00
8	270 days to less than 1 year	8.25	0.00
9	1 year to less than 2 years	9.00	0.75
10	2 years & less than 3 years	9.00	0.75
11	3 years & less than 5 years	9.25	0.75
12	5 years and above	9.25	0.75