SHORT TERM DEPOSIT

Short Term Deposit is an excellent investment avenue that an account holder can use to park his funds for a short tenure, namely, 30 days. The interest receivable on this deposit is added to the principle and the total amount is automatically renewed for a further period of 30 days. The STD Receipt is issued for 12 maturity dates and the account holder has the option of withdrawing the deposit at any time whilst retaining the right of earning interest during each extended period of 30 days.

 

 

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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