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

 

 

IDBIhttp://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 Bankhttp://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