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Home / NRI Services / Interest Rates on Deposits
 
Interest Rates on Deposits
Interest rates on the range of NRI products are listed below:
The Non Resident Ordinary (NRO) Deposits rates stand revised as under w.e.f February 15, 2009

 Maturity SLAB

Upto Rs.15 lacs

Deposits abv Rs. 15 Lacs upto Rs.1 Crore
15-45 days
2.75%
2.75 %
46-90 days
3.75%
3.75%
91 days - 6 months
5.00%
5.00%
> 6 months - <1 year
6.00%
6.00%
1 year - < 500 days
6.75%
6.75%
500 days
7.00%
7.00%
>500 days < 2 years
6.75%
6.75%
>2years - < 1100 days
7.25 %
7.25 %
1100 days
7.50%
7.50%
>1100 days ---5 years
7.00%
7.00%
>5 yrs – 7 years
7.50%
7.50%
>7 yrs – 10 yrs
7.75%
7.75%
Non Resident External (NRE) Deposits rates stand revised as under w.e.f. March 1, 2010

 Maturity SLAB

Upto Rs.15 lacs

Deposits abv Rs. 15 Lacs upto Rs.1 Crore

Over Rs.1 Crore to less than Rs.2 Crores
1yr to less than 2yrs
2.59 %
2.59%
2.59%
2yrs to less than 3yrs
2.83%
2.83%
2.83%
3yrs only
3.44%
3.44%
3.44%
The interest rate on NRE Savings Deposit is 3.50% pa
RFC deposit rates w.e.f. March 1, 2010
Maturity Slabs USD GBP EURO JPY
Less than 29 days

1.22

1.53

1.33

0.14

30 days – 90 days

1.23

1.54

1.38

0.16

91 days– 6 mths

1.25

1.64

1.60

0.25

181 days– 1yr

1.39

1.87

1.91

0.45

1yr 1 day - 2yrs

1.84

2.30

2.20

0.68
2yrs 1 day – <3yrs

2.08

2.57

2.45

0.49
3yrs only

2.69

3.11

2.85

0.54
RFC Savings Account (Effective from June 17,2009)
CURRENCY INTEREST RATE
USD

0.50%

GBP

0.75%

EUR

0.75%
FCNR (B) deposit rates w.e.f. March 1, 2010
Maturity Slabs USD GBP EUR AUD CAD
1yr to less than 2yrs

1.84

2.30

2.20

6.05

2.25

2yrs to less than 3yrs

2.08

2.57

2.45

5.99

2.37

3yrs to less than 4yrs

2.69

3.11

2.85

6.22

2.94

4yrs to less than 5yrs

3.20

3.58

3.18

6.50

3.36
5yrs only
3.62

3.94

3.47
6.65
 3.69
 
NRO Recurring Deposits: effective from February 16, 2010
 
MATURITY SLAB INTEREST RATE (% p.a.)
1 year - 2 years

6.50%

>2 years – 5 years

7.25%

>5 years – 7 years

7.50%

>7years – 10 years

7.75%
 
 
Interest payable on Premature Withdrawal of Term Deposits
Interest payable on prematurely withdrawn deposits will be the contracted rate or the rate applicable for which the deposit remained with the Bank (rate applicable for that tenure on the original date of the deposit) whichever is lower.
The above interest payment clause on premature withdrawal of Term Deposits is applicable on all Fixed deposits types like Monthly and Quarterly interest paying deposits, Cumulative or Re-Investment Deposits, Deposits linked to Savings/Current Accounts (FFD types of deposits) & Recurring Deposits.
The premature withdrawal penalty of 1% is  applicable on deposits opened/renewed with effect from 11th Nov. 2008
 
 
 
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