MODEL 500 SCHEME

This is a Term Deposit investment that can be held for 500 days, where the depositor can get interest on a quarterly basis by way of credit to his Savings account. Investments can be made for a minimum amount of Rs. 10,000 /-

 

TERM DEPOSIT INTEREST RATES (w.e.f.  01.07.2020)

 

Term deposits General Public Sr. Citizen Bulk
7 to 29 days 3.75 3.75  
30 days 4.75 5.00 5.00
31 days to 89 days 4.75 5.00  
90 days scheme 5.25 5.50 5.50
91 days to 180 days 5.25 5.50  
FDR 181 days to Below 1 year 5.50 5.75  
(QRIP) 12 months 6.75 7.10 7.10
MIP 12 months 6.75 7.10 7.10
(MIP/QIP/QRIP) 12 months upto 36 months 6.75 7.00 7.00
(MIP/QIP/QRIP) above 36 months upto 60 months 6.85 7.10 7.10
RD 1 Year to 3 Years 6.75 7.00  
RD above 3 Years to 5 Years 6.85 7.10  
RD above 5 Years to 10 Years 6.25 6.50  
Millennium RD (5 years only) 7.25 7.50  
M1000 days 6.75 7.00 7.00
Model 365 days 6.75 7.10 7.10
Model 500 days 6.75 7.00 7.10
6 months deposit scheme 6.00 6.25 6.25

  * Conditions Apply

 * KYC Documents such as Residence Proof, ID Proof, PAN Card is compulsory as per RBI Guidelines.

Rate of Interest for NRE/NRO Accounts:

 NRE Deposits - 1 year to 3 years - 6.75 %
 NRO Deposits - 7 days to 5 years - Same interest as offered on domestic deposits

Administrative Office

501, Central Plaza, 166 C S T Road, Kalina, Santacruz (East), Mumbai 400 098.

Tel No: 26656076 / 77  Tele Fax: 26656079

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