Last Updated on 09/06/2022
Domestic Rates

Revision in Interest Rates on Domestic / NRO / NRE Retail Term Deposits

w.e.f. 10.06.2022

Subsequent to Revision, The Applicable Interest Rate on Domestic / NRO / NRE Retail Term Deposits w.e.f. 10.06.2022 are as under:

Domestic / NRO Retail Term Deposits:

Period of Deposit Existing Rates
For Deposits below Rs. 2 Crore
W.E.F 11.04.2022 (in %)
Revised Rates
For Deposits below Rs. 2 Crore
W.E.F 10.06.2022 (in %)

7-14 days *

3.00

3.00

15-29 days

3.00

3.00

30-45 days

3.00

3.00

46-60 days

3.50

3.75

61-90 days

3.50

3.75

91-120 days

4.00

4.00

121-179 days

4.00

4.00

180-269 days

4.50

4.50

270 days to < 1 year

4.50

4.50

1 year to < 2 years

(except 444 days)

5.15

5.40

444 days

5.20

5.45

2 yrs to < 3 yrs

5.20

5.45

3 yrs and above

5.45

5.60


* Minimum amount Rs 1.00 Lakh

The Interest Rates on NRE term deposit rates are as mentioned below.

Period of Deposit Existing Rates
For Deposits Below Rs. 2 Crore
W.E.F 11.04.2022 (in %)
Revised Rates
For Deposits Below Rs. 2 Crore
W.E.F 10.06.2022 (in %)

1 year to < 2 years

(except 444 days)

5.15

5.40

444 days

5.20

5.45

2 yrs to < 3 yrs

5.20

5.45

3 yrs and above

5.45

5.60


  • For Senior Citizens Additional Rate of 0.50% and for Super Senior Citizens (aged 80 years and above) Additional Rate of 0.75% continues.
  • Interest rate for IOB Tax Saver Deposit shall be 5.60%.
  • For retired Staff, applicable interest rate will continue to be governed by guidelines issued vide Planning Department circular number Dep/54/2019-20 dated 21.12.2019.

For deposits of Rs. 2 Crore and above

For Deposits of Rs 2 Crore and above, Branch has to take prior permission for rate of interest from Treasury Department, Central Office.

Fore Closure Charges

Description Fore Closure Charges

Retail Term Deposits upto Rs. 15000/-

NIL

Retail Term Deposits of Rs. 15,001/- up to Rs. 5 Lakh

0.50%

Retail Term Deposits above Rs. 5 Lakh but below Rs. 2 Crore

1.00%

Bulk Deposits of Rs. 2 Crore & above

1.00%