Domestic Rates

Last Updated on: 09/02/2024

Domestic Rates

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Period of Deposit Revised Rates
For Deposits below Rs. 2 Crore
w.e.f. 10.02.2024 (in %)
Existing Rates
For Deposits below Rs. 2 Crore
w.e.f. 15.01.2024 (in %)
7-14 Days* 4.00 4.00
15-29 Days 4.50 4.50
30-45 Days 4.50 4.50
46-60 Days 4.50 4.50
61-90 Days 4.25 4.25
91-120 Days 4.25 4.25
121-179 Days 4.25 4.25
180-269 Days 5.75 5.75
270 Days to < 1 Year 5.75 5.75
1 Year to < 2 Years
(Except 444 Days)
6.90 6.90
444 Days 7.30 # 7.10
2 Years to < 3 Years 6.80 6.80
3 Years and Above 6.50 6.50

# Interest Rate Valid till 31.03.2024


* Minimum Amount Rs. 1.00 Lakh

  • Interest Rate of 7.30% on 444 Days is Valid till 31.03.2024 and from 01.04.2024, the Effective Interest Rate for 444 Days shall be 7.10%.
  • Interest Rate for IOB Tax Saver Deposit will remain unchanged at 6.50%.
  • For Senior Citizens (aged 60 Years and above), Additional interest rate of 0.50% and for Super Senior Citizens (aged 80 years and above), Additional interest rate of 0.75% continues.
  • For Retired Staff, Applicable interest rate will continue to be governed by the decision taken by ALCO in its meeting No-04/2019-20 held on 08.07.2019.

The Revised Interest Rates on NRE Term Deposits w.e.f 10.02.2024 are as Follows:

Period of Deposit Revised Rates
For Deposits below Rs. 2 Crore
w.e.f. 10.02.2024 (in %)
Existing Rates
For Deposits below Rs. 2 Crore
w.e.f. 15.01.2024 (in %)
1 Year to < 2 Years
(Except 444 Days)
6.9 6.9
444 Days 7.30# 7.1
2 Years to < 3 Years 6.8 6.8
3 Years and Above 6.5 6.5

# Interest Rate Valid till 31.03.2024

Interest Rate of 7.30% on 444 Days is valid till 31.03.2024 and from 01.04.2024, the Effective Interest Rate for 444 Days shall be 7.10%.


For Deposits of Rs. 2 Crore and above

For Deposits of Rs. 2 Crore and above (Bulk Deposits), 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%