Different Investment option with Post Office for Small Savings & Tax Benefit Like NSC, PPF, RD, Time Deposit

Indian Post is under the control of central government and comes under the Ministry of Communications and Information Technology. The Postal Service Board, the apex management body of the Department, comprises the Chairman and six Members. India has the largest Postal Network in the world with over 1, 55,015 Post Offices (as on 31.03.2009) of which 1, 39,144 (89.76%) are in the rural areas.  There are different investment products through which Indian Post raises the money for Indian Government and rate of interest are decided by Ministry of Finance, Department of Economic Affairs. Post Office Savings Account, 5-Year Post Office Recurring Deposit Account, Post Office Time Deposit Account, Post Office Monthly Income Account Scheme, Senior Citizen Savings Scheme, 15 year Public Provident Fund Account, Kisan Vikas Patra (Discontinued from 01.12.2011) , National Savings Certificates (NSC), 5 Years National Savings Certificate (VIII Issue), 10 Years National Savings Certificate (IX Issue).

Interest rate Comparison Chart for Different Investment Options by Post Office for Last 3 Years

SchemeRate of interest
w.e.f.01.04.2012
Rate of interest
w.e.f.01.04.2013
Rate of Interest
w.e.f. 01.04.2014
 Savings Deposit4%4%4%
1 Year Time Deposit8.20%8.20%8.40%
2 Year Time Deposit8.30%8.20%8.40%
3 Year Time Deposit8.40%8.30%8.40%
5 Year Time Deposit8.50%8.40%8.50%
5 Year Recurring Deposit8.40%8.30%8.70%
5 Year SCSS9.30%9.20%9.20%
5 Year MIS8.50%8.40%8.40%
5 Year NSC8.60%8.50%8.50%
10 Year NSC8.90%8.80%8.80%
PPF8.80%8.70%8.70%

 Post Office Savings Account

  • Interest rate:  4.0% per annum on individual/ joint accounts.
  • Account Opening: Minimum Rs.20/- for opening.
  • Other Features: Minimum balance Rs 50/-, Interest earned is Tax Free up to Rs.10,000/- per year,  Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account.

 5-Year Post Office Recurring Deposit Account

  • Interest rate:  8.4% per annum (quarterly compounded) with effect from 01.04.2014
  • Account Opening: Minimum INR 10/- for opening or any amount in multiples of Rs.5/-. No maximum limit
  • Other Features: Account can be transferred from one post office to another, Single account can be converted into Joint and Vice Versa.

Post Office Time Deposit Account 

  • Interest rate:  1yr.A/c – 8.40%, 2yr.A/c-8.40%, 3yr.A/c-8.40%, 5yr.A/c-8.50% with effect from 01.04.2014
  • Account Opening: Minimum INR 200/- for opening or any amount in multiples of Rs.5/-. No maximum limit
  • Income Tax Deduction 80C: The investment under 5 Years TD qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007.
  • Other Features: Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account, Single account can be converted into Joint and Vice Versa

Post Office Monthly Income Account Scheme 

  • Interest rate:  8.4% per annum (quarterly compounded) with effect from 01.04.2014
  • Account Opening: In multiples of INR 1500/-. Maximum investment limit is Rs. 4.5 lakhs in single account and INR 9 lakhs in joint account.
  • Other Features: Account can be transferred from one post office to another, Single account can be converted into Joint and Vice Versa. Can be prematurely encashed after one year but before 3 years at the discount of 2% of the deposit and after 3 years at the discount of 1% of the deposit. (Discount means deduction from the deposit.)

Senior Citizen Savings Scheme

  • Interest rate: 9.20% per annum, payable from the date of deposit of 31st March/30th Sept/31st December in the first instance & thereafter, interest shall be payable on 31st March, 30th June, 30th Sept and 31st Decembe with effect from 01.04.2014
  • Account Opening: There shall be only one deposit in the account in multiple of INR.1000/- maximum not exceeding INR 15 lakh.
  • Income Tax Deduction 80C: The investment qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007.
  • Other Features: An individual of the Age of 60 years or more may open the account. Maturity period is 5 years. Account can be opened by cash for the amount below INR 1 lakh and for INR 1 Lakh and above by cheque only.

15 year Public Provident Fund Account

  • Interest rate:  8.70% per annum (quarterly compounded) with effect from 01.04.2014
  • Account Opening: open account with INR 5/- but has to deposit minimum of INR 500/- in a financial yearMinimum INR. 500/- Maximum INR. 1,00,000/- in a financial year. Deposits can be made in lump-sum or in 12 installments.
  • Income Tax Deduction 80C: The investment qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007. Also Interest is completely tax-free.
  • Other Features: Maturity value can be retained without extension and without further deposits also.Premature closure is not allowed before 15 years. Loan facility available from 3rd financial year  and no attachment under court decree order

Kisan Vikas Patra (Discontinued from 01.12.2011)

National Savings Certificates (NSC)

5 Years National Savings Certificate (VIII Issue)

  • Interest rate:  8.5% compounded six monthly but payable at maturity. INR. 100/- grows to INR 151.62 after 5 years with effect from 01.04.2014
  • Account Opening: Minimum INR. 100/- No maximum limit available in denominations of INR. 100/-, 500/-, 1000/-, 5000/- & INR. 10,000/-
  • Income Tax Deduction 80C: The investment qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007. Also Interest is completely tax-free.
  • Other Features: The interest accruing annually but deemed to be reinvested under Section 80C of IT Act.

10 Years National Savings Certificate (IX Issue)

  • Interest rate:  8.80% compounded six monthly but payable at maturity. INR 100/- grows to INR 236.60 after 10 years with effect from 01.04.2014
  • Account Opening: Minimum INR. 100/- No maximum limit available in denominations of INR. 100/-, 500/-, 1000/-, 5000/- & INR. 10,000/-
  • Income Tax Deduction 80C: The investment qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007. Also Interest is completely tax-free.
  • Other Features: The interest accruing annually but deemed to be reinvested under Section 80C of IT Act.

South Indian Bank NRI Account Interest Rates

South Indian Bank NRI Account Interest Rates

One of the earliest banks in South India,  “South Indian Bank” came into being during the Swadeshi movement. The establishment of the bank was the fulfillment of the dreams of a group of enterprising men who joined together at Thrissur, a major town (now known as the Cultural Capital of Kerala), in the erstwhile State of Cochin to provide for the people a safe, efficient and service oriented repository of savings of the community on one hand and to free the business community from the clutches of greedy money lenders on the other by providing need based credit at reasonable rates of interest.

Translating the vision of the founding fathers as its corporate mission, the bank has during its long sojourn been able to project itself as a vibrant, fast growing, service oriented and trend setting financial intermediary.

 Vision 
To emerge as the most preferred bank in the country in terms of brand, values, principles with core competence in fostering customer aspirations, to build high quality assets leveraging on the strong and vibrant technology platform in pursuit of excellence and customer delight and to become a major contributor to the stable economic growth of the nation.

Mission 
To provide a secure, agile, dynamic and conducive banking environment to customers with commitment to values and unshaken confidence, deploying the best technology, standards, processes and procedures where customer convenience is of significant importance and to increase the stakeholders’ value.

DOMESTIC DEPOSITS (Also applicable for NRO Accounts)
Interest rate on Domestic Deposits w.e.f August 01st, 2013

Period

Single Deposit less than Rs.100.00 lacs 

         General

Senior Citizens*

7 days to 14 days

15 days to 45 days

4.00%

4.50%

46 days to 90 days

4.50%

5.00%

91 days to 180 days

7.00%

7.50%

181 days to 299 days

8.50%

9.00%

300 days

8.75%

9.25%

301 days to less than 1 year

8.50%

9.00%

1 year to less than 2 years

9.00%

9.50%

SIB 85 (2 years)

9.25%

9.75%

Above 2 years to less than 3 years

9.00%

9.50%

3 years to upto & incl. 10 years

8.75%

9.25%

Tax Gain

8.75%

9.25%

Rates for single deposit of Rs.100 lacs & above and Premature closure penalty thereon to be obtained from               Head Office – (Treasury Dept.) on a daily basis.

* Special rates for Senior Citizens, applicable only to Residents individually or jointly with another resident citizen.Penalty is applicable for premature closure of deposits for withdrawal as well as for reinvestment of Term Deposits including Recurring Deposits and Daily Savings Deposits at the rate of 0.50% for deposit amounts below Rs.15 lakhs and 1% for deposit amounts of Rs.15 lakhs and above. The effective rate will be the net of applicable rate for the period of deposit remained with bank (less the penal rate) or the net of original contracted rate (less penal rate) whichever is less.
DOMESTIC SAVINGS ACCOUNT(Also Applicable for NRO Accounts)

Period

Rate

Savings Bank A/c (w.e.f 03.05.2011)

4.00% per annum

NRE DEPOSITS
Interest rate on NRE Deposits with effect from 26th August 2013*

Period

Single Deposit less than Rs.100 lacs

1 year to less than 2 years

9.00% p.a

SIB 85 (2 years)

9.25% p.a

Above 2 years to less than 3 years

9.00% p.a

SIB NRE Max (3 years to 5 years)

9.50% p.a

Above 5 years to upto and incl.10 years

9.00% p.a

  Rates for single deposit of Rs.100 lacs & above and Premature closure penalty thereon to be obtained from             Head Office – (Treasury Dept.) on a daily basis.

 * The revised rates will apply only to fresh deposits and on renewal of maturing deposits.

No interest will be paid if closed within one year.

No additional interest will be paid for Senior Citizens under NRE Term deposit schemes.

FCNR(B) DEPOSITS
Interest rate per annum on FCNR(B) Deposits with effect from 15th August 2013

Period

USD

GBP

EURO

AUD

CHF

1 year to less than 2 years

2.67%

2.86%

2.47%

4.48%

2.24%

2 years to less than 3 years

2.48%

2.71%

2.56%

4.65%

2.20%

3 years to less than 4 years

4.78%

4.87%

4.74%

6.89%

4.34%

4 years to less than 5 years

5.17%

5.11%

4.96%

7.19%

4.52%

5 years

5.56%

5.41%

5.20%

7.42%

4.73%

* There is no pre closure penalty for FCNR(B) deposits

RFC ACCOUNT
Interest rate per annum on RFC Deposits with effect from 15th August 2013

Period

USD

GBP

EURO

1 year to less than 2 years

2.67%

2.86%

2.47%

2 years to less than 3 years

2.48%

2.71%

2.56%

3 years

4.78%

4.87%

4.74%

RFC SAVINGS ACCOUNT

USD

GBP

EURO

Savings Bank A/c

 0.50%

2.00%

1.00%

Effective Annualized Rate of Return (Indicative only)

In keeping with Reserve Bank of India guidelines to provide information on effective annualized rate of return on deposits of various maturities, the annualized rate of return for the Kalpakanidhi* (KND – Quarterly Compounding) deposits are indicated.      

Annualized Rate of Return at minimum quarterly multiple of the maturity bucket for Kalpakanidhi* (KND – Quarterly Compounding) Domestic Deposits (Also Applicable for NRO KND Deposits)

(For Single deposits of less than Rs.100 lakhs)

General

Senior Citizen

 Period

ROI

Annualized Yield

ROI

Annualized Yield

7 days to 14 days

 –

15 days to 45 days

4.00%

4.00%

( – )

4.50%

4.50%

( – )

46 days to 90 days

4.50%

4.50%

( – )

5.00%

5.00%

( – )

91 days to 180 days

7.00%

7.00%

( – )

7.50%

7.50%

( – )

181 days to less than 1 year

8.50%

8.68%

(3 Q)

9.00%

9.20%

(3 Q)

1 year to less than 3 years

9.00%

9.31%

(4 Q)

9.50%

9.84%

(4 Q)

SIB 85 (2 years)

9.25%

10.03%

(8 Q)

9.75%

10.62%

(8 Q)

3 years to upto and incl. 10 years

8.75%

9.88%

(12 Q)

9.25%

10.52%

(12 Q)

(The period (in quarters) corresponding to which the annualized yield is determined are mentioned in the brackets)

Annualized Rate of Return at minimum quarterly multiple of the maturity bucket for NRE KND* Deposits

Period

ROI

Annualized Yield

1 year to less than 3 years

 9.00%

   9.31%

(4 Q)

SIB 85 (2 years)

9.25%

10.03%

(8 Q)

SIB NRE Max(3 years to 5 years)

9.50%

10.84%

(12 Q)

Above 5 years up to and incl.10 years

9.00%

11.21%

(60 Q)

* KND Deposits shall be opened with maturity of quarterly multiples only.

 

 

 

Saraswat Bank Saving Account Interest Rates

Saraswat Bank Saving Account Interest Rates

The Bank has a very humble but a very inspiring beginning. On 14th September 1918, “The Saraswat Co-operative Banking Society” was founded. Mr. J.K. Parulkar became   its first Chairman, Mr. N.B. Thakur, the first Vice-Chairman, Mr. P.N. Warde, the first Secretary and Mr. Shivram Gopal Rajadhyaksha, the first Treasurer. These were people with deep and abiding ideals, faith, vision, optimism and entrepreneurial skills. These dedicated men in charge of the Society had a commendable sense of service and duty imbibed in them. Even today, our honorable founders inspire a sense of awe and respect in the Bank and amongst the shareholders

MISSION STATEMENT
“To emerge as one of the premier and most preferred banks in the country by adopting the highest standards of professionalism and excellence in all the areas of working”

Deposit Scheme Interest Rates

1)   Interest rate on term deposits w.e.f. 16th August 2013  For Deposits below Rs.1 crore

Tenor

ROI For

 General Public

(% p.a)

ROI For

Senior Citizens

(% p.a)

15 days to 90 days

6.75

6.75

91 days to 179 days

7.00

7.00

180 days up to 1 yr

7.50

7.50

Above 1 year up to 18 months

8.00

8.00

Above 18 months up to 36 months

8.50

9.00

Above 36 months up to 60 months

9.00

9.50

Above 60 months  and upto 84 months

8.00

8.50

 

For Single term deposit of Rs. 1 cr & Above

Tenor

ROI For

 General Public

(% p.a)

ROI For

Senior Citizens

(% p.a)

15 days to 90 days

7.50

7.50

91 days to 179 days

8.00

8.00

180 days up to 1 yr

8.25

8.25

Above 1 year up to 18 months

8.00

8.00

Above 18 months up to 36 months

8.50

9.00

Above 36 months up to 60 months

9.00

9.50

Above 60 months  and upto 84 months

8.00

8.50

 

Deposits under Kalpataru Deposits scheme will be accepted for a period of 12 months to 36 months only

Deposits under Recurring Deposits scheme will be accepted for a period of 12 months to 36 months only.

Interest Rate on Madhukar Tax Scheme will be at 9.00% p.a payable quarterly.

The existing practice of charging penal interest @1% on all deposits which are prematurely closed and reinvested regardless of the residual period of deposit will continue. The existing practice of charging penal interest (1%) on premature withdrawal of deposits will also continue. 

The revised rate of interest will apply for all credits received on or after 16th August 2013. 

2)Interest rate on Savings deposit schemes w.e.f. 1st April, 2012 is 4% p.a

 

NRI Deposit Rates

1)Interest Rates on NRE Term deposits w.e.f. 5th July, 2013.

  Tenor  Rates for All Categories (% p.a)
   1 year  7.50
  Above 1 year up to 18 months  8.00
  Above 18 months up to 36 months  8.50
  Above 36 months up to 60 months  8.50

The revised deposit rates will apply only to fresh deposits and on renewal of maturing deposits.

Deposits under NRE Kalpataru Deposits scheme will be accepted for a period of  12 months to 36 months only.

Deposits under NRE Recurring Deposits scheme will be accepted for a period of 12 months to 36 months only.

The existing practice of charging penal interest @1% on all deposits which are prematurely closed and reinvested regardless of the residual period of deposit will continue. The existing practice of charging penal interest (1%) on premature withdrawal of deposits will also continue.

The revised rate of interest will apply for all credits received on or after 5th July 2013. 

2.) Interest Rates on NRO Term deposits w.e.f. 5th July, 2013

For General Public :

TenorRates for All Categories (% p.a)
15 days to 90 days

6.75

91 days to 179 days

7.00

180 days upto 1 year

7.50

Above 1 year upto 18 months

8.00

Above 18 months upto 36 months

8.50

Above 36 months upto 60 months

9.00

Above 60 months and upto 84 months

8.00

The revised deposit rates will apply only to fresh deposits and on renewal of maturing deposits.

Deposits under NRO Kalpataru Deposits scheme will be accepted for a period of 12 months to 36 months only.

Deposits under NRO Recurring Deposits scheme will be accepted for a period of 12 months to 36 months only.

The existing practice of charging penal interest @1% on all deposits which are prematurely closed and reinvested regardless of the residual period of deposit will continue. The existing practice of charging penal interest (1%) on premature withdrawal of deposits will also continue.

The rate of interest on NRO/NRE savings account will continue @ 4%p.a..

The revised rate of interest will apply for all credits received on or after 5th July 2013.

3) Interest rates on Foreign Currency (Non–Resident) Term Deposit (for period01/08/2013 to 31/08/2013

  FCNR DEPOSITS:-                                (Interest % p.a.)

  Period of Deposit  USD  EUR
  One Year and above but less than Two Years  2.67  2.47
  Two Years and above but less than Three Years  2.48  –
  Three Year and above but less than Four Years  3.78  –
  Four Years and above but less than Five Years  4.17  –
  Five Years only  4.56  –

Interest rates on Foreign Currency deposits are subject to monthly changes dependent upon the LIBOR/SWAP rates for respective currency/maturity on the preceding month. Acceptance of FCNR deposit in GBP, CAD and AUD is subject to prior approval of IBD

4) Interest rate on RFC term deposits (for period 01/08/2013 to 31/08/2013)

  RFC SAVINGS DEPOSITS (USD):  0.19 %

 

  RFC FIXED DEPOSITS:  USD  EUR
  1 Year and above but less than 2 Years  2.67  2.47
  2 Years and above but less than 3 Years  2.48  –
  3 years only  3.78  –

The existing practice of charging penal interest @1% on all deposits which are prematurely closed and reinvested regardless of the residual period of deposit will continue. The existing practice of charging penal interest (1%) on premature withdrawal of deposits will also continue.
5) Interest rate on NRE Savings deposits is 4% p.a.

6) Interest rate on NRO Savings deposits is 4% p.a.

7) Interest rate on RFC Savings deposits – USD (for period 01/08/2013 to 31/08/2013) is 0.19% p.a.

 

 

South Indian Bank Fixed Deposit Interest Rates

South Indian Bank Fixed Deposit Interest Rates

One of the earliest banks in South India,  “South Indian Bank” came into being during the Swadeshi movement. The establishment of the bank was the fulfillment of the dreams of a group of enterprising men who joined together at Thrissur, a major town (now known as the Cultural Capital of Kerala), in the erstwhile State of Cochin to provide for the people a safe, efficient and service oriented repository of savings of the community on one hand and to free the business community from the clutches of greedy money lenders on the other by providing need based credit at reasonable rates of interest.

Translating the vision of the founding fathers as its corporate mission, the bank has during its long sojourn been able to project itself as a vibrant, fast growing, service oriented and trend setting financial intermediary.

 Vision 
To emerge as the most preferred bank in the country in terms of brand, values, principles with core competence in fostering customer aspirations, to build high quality assets leveraging on the strong and vibrant technology platform in pursuit of excellence and customer delight and to become a major contributor to the stable economic growth of the nation.

Mission 
To provide a secure, agile, dynamic and conducive banking environment to customers with commitment to values and unshaken confidence, deploying the best technology, standards, processes and procedures where customer convenience is of significant importance and to increase the stakeholders’ value.

DOMESTIC DEPOSITS (Also applicable for NRO Accounts)
Interest rate on Domestic Deposits w.e.f August 01st, 2013

Period

Single Deposit less than Rs.100.00 lacs 

         General

Senior Citizens*

7 days to 14 days

15 days to 45 days

4.00%

4.50%

46 days to 90 days

4.50%

5.00%

91 days to 180 days

7.00%

7.50%

181 days to 299 days

8.50%

9.00%

300 days

8.75%

9.25%

301 days to less than 1 year

8.50%

9.00%

1 year to less than 2 years

9.00%

9.50%

SIB 85 (2 years)

9.25%

9.75%

Above 2 years to less than 3 years

9.00%

9.50%

3 years to upto & incl. 10 years

8.75%

9.25%

Tax Gain

8.75%

9.25%

Rates for single deposit of Rs.100 lacs & above and Premature closure penalty thereon to be obtained from               Head Office – (Treasury Dept.) on a daily basis.

* Special rates for Senior Citizens, applicable only to Residents individually or jointly with another resident citizen.Penalty is applicable for premature closure of deposits for withdrawal as well as for reinvestment of Term Deposits including Recurring Deposits and Daily Savings Deposits at the rate of 0.50% for deposit amounts below Rs.15 lakhs and 1% for deposit amounts of Rs.15 lakhs and above. The effective rate will be the net of applicable rate for the period of deposit remained with bank (less the penal rate) or the net of original contracted rate (less penal rate) whichever is less.
DOMESTIC SAVINGS ACCOUNT(Also Applicable for NRO Accounts)

Period

Rate

Savings Bank A/c (w.e.f 03.05.2011)

4.00% per annum

NRE DEPOSITS
Interest rate on NRE Deposits with effect from 26th August 2013*

Period

Single Deposit less than Rs.100 lacs

1 year to less than 2 years

9.00% p.a

SIB 85 (2 years)

9.25% p.a

Above 2 years to less than 3 years

9.00% p.a

SIB NRE Max (3 years to 5 years)

9.50% p.a

Above 5 years to upto and incl.10 years

9.00% p.a

  Rates for single deposit of Rs.100 lacs & above and Premature closure penalty thereon to be obtained from             Head Office – (Treasury Dept.) on a daily basis.

 * The revised rates will apply only to fresh deposits and on renewal of maturing deposits.

No interest will be paid if closed within one year.

No additional interest will be paid for Senior Citizens under NRE Term deposit schemes.

FCNR(B) DEPOSITS
Interest rate per annum on FCNR(B) Deposits with effect from 15th August 2013

Period

USD

GBP

EURO

AUD

CHF

1 year to less than 2 years

2.67%

2.86%

2.47%

4.48%

2.24%

2 years to less than 3 years

2.48%

2.71%

2.56%

4.65%

2.20%

3 years to less than 4 years

4.78%

4.87%

4.74%

6.89%

4.34%

4 years to less than 5 years

5.17%

5.11%

4.96%

7.19%

4.52%

5 years

5.56%

5.41%

5.20%

7.42%

4.73%

* There is no pre closure penalty for FCNR(B) deposits

RFC ACCOUNT
Interest rate per annum on RFC Deposits with effect from 15th August 2013

Period

USD

GBP

EURO

1 year to less than 2 years

2.67%

2.86%

2.47%

2 years to less than 3 years

2.48%

2.71%

2.56%

3 years

4.78%

4.87%

4.74%

RFC SAVINGS ACCOUNT

USD

GBP

EURO

Savings Bank A/c

 0.50%

2.00%

1.00%

Effective Annualized Rate of Return (Indicative only)

In keeping with Reserve Bank of India guidelines to provide information on effective annualized rate of return on deposits of various maturities, the annualized rate of return for the Kalpakanidhi* (KND – Quarterly Compounding) deposits are indicated.      

Annualized Rate of Return at minimum quarterly multiple of the maturity bucket for Kalpakanidhi* (KND – Quarterly Compounding) Domestic Deposits (Also Applicable for NRO KND Deposits)

(For Single deposits of less than Rs.100 lakhs)

General

Senior Citizen

 Period

ROI

Annualized Yield

ROI

Annualized Yield

7 days to 14 days

 –

15 days to 45 days

4.00%

4.00%

( – )

4.50%

4.50%

( – )

46 days to 90 days

4.50%

4.50%

( – )

5.00%

5.00%

( – )

91 days to 180 days

7.00%

7.00%

( – )

7.50%

7.50%

( – )

181 days to less than 1 year

8.50%

8.68%

(3 Q)

9.00%

9.20%

(3 Q)

1 year to less than 3 years

9.00%

9.31%

(4 Q)

9.50%

9.84%

(4 Q)

SIB 85 (2 years)

9.25%

10.03%

(8 Q)

9.75%

10.62%

(8 Q)

3 years to upto and incl. 10 years

8.75%

9.88%

(12 Q)

9.25%

10.52%

(12 Q)

(The period (in quarters) corresponding to which the annualized yield is determined are mentioned in the brackets)

Annualized Rate of Return at minimum quarterly multiple of the maturity bucket for NRE KND* Deposits

Period

ROI

Annualized Yield

1 year to less than 3 years

 9.00%

   9.31%

(4 Q)

SIB 85 (2 years)

9.25%

10.03%

(8 Q)

SIB NRE Max(3 years to 5 years)

9.50%

10.84%

(12 Q)

Above 5 years up to and incl.10 years

9.00%

11.21%

(60 Q)

* KND Deposits shall be opened with maturity of quarterly multiples only.

 

Syndicate Bank Saving Account Interest Rates

Syndicate Bank Saving Account Interest Rates

Syndicate Bank was established in 1925 in Udupi, the abode of Lord Krishna in coastal Karnataka with a capital of Rs.8000/- by three visionaries – Sri Upendra Ananth Pai, a businessman, Sri Vaman Kudva, an engineer and Dr.T M A Pai, a physician – who shared a strong commitment to social welfare. Their objective was primarily to extend financial assistance to the local weavers who were crippled by a crisis in the handloom industry through mobilising small savings from the community. The bank collected as low as 2 annas daily at the doorsteps of the depositors through its Agents under its Pigmy Deposit Scheme started in 1928. This scheme is the Bank’s brand equity today and the Bank collects around Rs. 2 crore per day under the scheme.

The progress of Syndicate Bank has been synonymous with the phase of progressive banking in India. Spanning over 80 years of pioneering expertise, the Bank has created for itself a solid customer base comprising customers of two or three generations. Being firmly rooted in rural India and understanding the grassroot realities, the Bank’s perception had vision of future India. It has been propagating innovations in Banking and also has been receptive to new ideas, without however getting uprooted from its distinctive socio-economic and cultural ethos. Its philosophy of growth by mutual sustenance of both the Bank and the people has paid rich dividends. The Bank has been operating as a catalyst of development across the country with particular reference to the common man at the individual level and in rural/semi urban centres at the area level.

The Bank is well equipped to meet the challenges of the 21st century in the areas of information technology, knowledge and competition. A comprehensive IT plan is being put in place and the skills and knowledge of the Bank’s personnel are being upgraded through a variety of training programmes to promote customer delight in every sphere of its activity. The Bank has launched an ambitious technology plan called Centralised Banking Solution (CBS) whereby 500 of our strategic branches with their ATMs are being networked nationwide over a 4 year period. The Bank is pioneer among Public Sector Banks on launching CBS. Our bank has already achieved CBS implementation among all its branches. Thus, the bank is 100% CBS enabled.

Interest Rates on Saving Bank Account

Type of Account

Rate of Interest (in %)

Minimum Balance (in Rs)

Normal

Senior Citizen

Rural

Semi Urban

Urban

Domestic Account
With cheque book facility

4

4

500

500

1000

Without cheque book facility

4

4

100

100

500

No Frills Account
With cheque book facility

4

4

500

500

500

Without cheque book facility

4

4

NIL

NIL

NIL

Non Resident Account
NRO

4

4

500

500

1000

NRE

4

4

500

500

1000

 

INTEREST RATES ON DEPOSITS

Tenors

Revised w.e.f.20.08.2013

Less than   Rs. 1 cr

Rs. 1 cr to   Rs.10 cr

*

> Rs.10 cr uptoRs.25 cr

*

> Rs.25 cr uptoRs.50 cr

*

> Rs.50 cr uptoRs.100 cr

*

`100 cr

*

7 to 14 days

7.10

7.10

8.51

8.51

8.51

8.51

15 to 30 days

7.10

7.10

8.51

8.51

8.51

8.51

31 to 45 days

7.10

7.10

8.51

8.51

8.51

8.51

46 to 60 days

7.75

7.75

9.00

9.00

9.00

9.00

61 to 90 days

7.10

7.75

9.01

9.01

9.01

9.01

91 to 120 days

7.10

7.75

9.31

9.31

9.31

9.31

121 to 179 days

8.00

8.00

9.01

9.01

9.01

9.01

180 to 269 days

8.50

8.50

9.81

9.81

9.81

9.81

270 to 363 days

9.00

9.00

9.81

9.81

9.81

9.81

364 days

9.00

9.00

9.81

9.81

9.81

9.81

1 year exact

9.05

9.05

9.91

9.91

9.91

9.91

Above 1 yr up to 2 yrs

8.50

8.50

8.25

8.50

8.50

8.25

Above 2 yrs up to 5 yrs

8.00

8.00

8.25

8.00

8.00

8.25

Above 5 yrs up to 10 yrs

8.00

8.00

8.25

8.00

8.00

8.25

  • *Acceptance of deposits of over `.5Crores is at the discretion of the Bank. .
  • Additional interest of 0.50% over the card rate is payable to Resident Indian Senior Citizens on Domestic Term Deposits ofless than `5 Crore and the maturity tenor of one year and above only. (Not applicable to NRO deposits).
  • Employees / eligible Ex-employees are eligible for an additional interest of 1% over the card rate irrespective of the amount and tenor of deposit (Not applicable on NRO deposits).
  • Eligible ex-employees,  who are Senior Citizens and eligible for an additional interest of 1% payable to employees / eligible ex-employees are also eligible for an additional interest of 0.50% payable to Resident Indian Senior Citizens on domestic term deposits of less than ` 5 Crore & maturity tenor of one year and above only..

Note :

  1. The above rates are subject to revision from time to time.
  2. Customers may contact the nearest branch of Syndicate Bank for details.

 

Rates of Interest on Non Resident Rupee Term Deposits A/C’s

The Current Interest Rates on NRE Rupee Term Deposit A/cs. are given below:

Tenors

Revised w.e.f.20.08.2013

Less than    Rs 1 cr

Rs 1 cr to  Rs 10 cr

*

> Rs 10 cr upto Rs25 cr

*

> Rs 25 cr uptoRs 50 cr

*

> Rs 50 cr upto Rs100 cr

*

`Rs 100 cr

*

1 year exact

9.05

9.05

9.91

9.91

9.91

9.91

Above 1 yr up to 2 yrs

8.50

8.50

8.25

8.50

8.50

8.25

Above 2 yrs up to 5 yrs

8.00

8.00

8.25

8.00

8.00

8.25

Above 5 yrs up to 10 yrs

8.00

8.00

8.25

8.00

8.00

8.25

  • *Acceptance of deposits of over `.5Crores is at the discretion of the Bank.
  • Additional interest to Employees / eligible ex-employees and senior citizens as applicable to Domestic Tem Deposits is not applicable on NRE deposits.
  • Rates quoted on daily basis over the above card rates on Domestic TDs will be  treated as DRI(Differential Rates of Interest) and such deposits will be DRI deposits.

 

 Premature withdrawal of NRE Term deposits:1. The premature withdrawal of term deposit of Rs.5.00 Crores and above is at the discretion of the bank.
2. The interest payable in respect of term deposits withdrawn before maturity would be the rate applicable to the period for which deposit remained with the bank as on date of deposit or at contracted rate, whichever is lower less the penalty at prescribed rate.
3. In respect of term deposits of Rs.5.00Crores and above accepted on or after 24.08.2013 and sought to be withdrawn before maturity the penalty would be 2%.
4. In all other cases the penalty for premature withdrawal of term deposits will be 1%.
5. The Rate of  interest in respect of premature renewal of term deposits be the rate applicable to the period for which deposit remained with the bank as on date of deposit or at contracted rate, whichever is lower less the penalty at the rate of 0.50%.
6. In case of  pre mature withdrawal/ pre mature renewal of Term Deposits no interest is payable where the period for which the deposit remained with the bank is less than 1 year  and  penalty is not applicable under such cases.

 

Saraswat Bank fixed Deposit Interest Rate

Saraswat Bank fixed Deposit Interest Rate

The Bank has a very humble but a very inspiring beginning. On 14th September 1918, “The Saraswat Co-operative Banking Society” was founded. Mr. J.K. Parulkar became   its first Chairman, Mr. N.B. Thakur, the first Vice-Chairman, Mr. P.N. Warde, the first Secretary and Mr. Shivram Gopal Rajadhyaksha, the first Treasurer. These were people with deep and abiding ideals, faith, vision, optimism and entrepreneurial skills. These dedicated men in charge of the Society had a commendable sense of service and duty imbibed in them. Even today, our honorable founders inspire a sense of awe and respect in the Bank and amongst the shareholders

MISSION STATEMENT
“To emerge as one of the premier and most preferred banks in the country by adopting the highest standards of professionalism and excellence in all the areas of working”

Deposit Scheme Interest Rates

1)   Interest rate on term deposits w.e.f. 16th August 2013  For Deposits below Rs.1 crore

Tenor

ROI For

 General Public

(% p.a)

ROI For

Senior Citizens

(% p.a)

15 days to 90 days

6.75

6.75

91 days to 179 days

7.00

7.00

180 days up to 1 yr

7.50

7.50

Above 1 year up to 18 months

8.00

8.00

Above 18 months up to 36 months

8.50

9.00

Above 36 months up to 60 months

9.00

9.50

Above 60 months  and upto 84 months

8.00

8.50

 

For Single term deposit of Rs. 1 cr & Above

Tenor

ROI For

 General Public

(% p.a)

ROI For

Senior Citizens

(% p.a)

15 days to 90 days

7.50

7.50

91 days to 179 days

8.00

8.00

180 days up to 1 yr

8.25

8.25

Above 1 year up to 18 months

8.00

8.00

Above 18 months up to 36 months

8.50

9.00

Above 36 months up to 60 months

9.00

9.50

Above 60 months  and upto 84 months

8.00

8.50

 

Deposits under Kalpataru Deposits scheme will be accepted for a period of 12 months to 36 months only

Deposits under Recurring Deposits scheme will be accepted for a period of 12 months to 36 months only.

Interest Rate on Madhukar Tax Scheme will be at 9.00% p.a payable quarterly.

The existing practice of charging penal interest @1% on all deposits which are prematurely closed and reinvested regardless of the residual period of deposit will continue. The existing practice of charging penal interest (1%) on premature withdrawal of deposits will also continue. 

The revised rate of interest will apply for all credits received on or after 16th August 2013. 

2)Interest rate on Savings deposit schemes w.e.f. 1st April, 2012 is 4% p.a

 

NRI Deposit Rates

 
1)Interest Rates on NRE Term deposits w.e.f. 5th July, 2013.

  Tenor  Rates for All Categories (% p.a)
   1 year  7.50
  Above 1 year up to 18 months  8.00
  Above 18 months up to 36 months  8.50
  Above 36 months up to 60 months  8.50

The revised deposit rates will apply only to fresh deposits and on renewal of maturing deposits.

Deposits under NRE Kalpataru Deposits scheme will be accepted for a period of  12 months to 36 months only.

Deposits under NRE Recurring Deposits scheme will be accepted for a period of 12 months to 36 months only.

The existing practice of charging penal interest @1% on all deposits which are prematurely closed and reinvested regardless of the residual period of deposit will continue. The existing practice of charging penal interest (1%) on premature withdrawal of deposits will also continue.

The revised rate of interest will apply for all credits received on or after 5th July 2013. 

2.) Interest Rates on NRO Term deposits w.e.f. 5th July, 2013

For General Public :

TenorRates for All Categories (% p.a)
15 days to 90 days

6.75

91 days to 179 days

7.00

180 days upto 1 year

7.50

Above 1 year upto 18 months

8.00

Above 18 months upto 36 months

8.50

Above 36 months upto 60 months

9.00

Above 60 months and upto 84 months

8.00

The revised deposit rates will apply only to fresh deposits and on renewal of maturing deposits.

Deposits under NRO Kalpataru Deposits scheme will be accepted for a period of 12 months to 36 months only.

Deposits under NRO Recurring Deposits scheme will be accepted for a period of 12 months to 36 months only.

The existing practice of charging penal interest @1% on all deposits which are prematurely closed and reinvested regardless of the residual period of deposit will continue. The existing practice of charging penal interest (1%) on premature withdrawal of deposits will also continue.

The rate of interest on NRO/NRE savings account will continue @ 4%p.a..

The revised rate of interest will apply for all credits received on or after 5th July 2013.

3) Interest rates on Foreign Currency (Non–Resident) Term Deposit (for period01/08/2013 to 31/08/2013

  FCNR DEPOSITS:-                                (Interest % p.a.)

  Period of Deposit  USD  EUR
  One Year and above but less than Two Years  2.67  2.47
  Two Years and above but less than Three Years  2.48  –
  Three Year and above but less than Four Years  3.78  –
  Four Years and above but less than Five Years  4.17  –
  Five Years only  4.56  –

Interest rates on Foreign Currency deposits are subject to monthly changes dependent upon the LIBOR/SWAP rates for respective currency/maturity on the preceding month. Acceptance of FCNR deposit in GBP, CAD and AUD is subject to prior approval of IBD

4) Interest rate on RFC term deposits (for period 01/08/2013 to 31/08/2013)

  RFC SAVINGS DEPOSITS (USD):  0.19 %

 

  RFC FIXED DEPOSITS:  USD  EUR
  1 Year and above but less than 2 Years  2.67  2.47
  2 Years and above but less than 3 Years  2.48  –
  3 years only  3.78  –

The existing practice of charging penal interest @1% on all deposits which are prematurely closed and reinvested regardless of the residual period of deposit will continue. The existing practice of charging penal interest (1%) on premature withdrawal of deposits will also continue.
5) Interest rate on NRE Savings deposits is 4% p.a.

6) Interest rate on NRO Savings deposits is 4% p.a.

7) Interest rate on RFC Savings deposits – USD (for period 01/08/2013 to 31/08/2013) is 0.19% p.a.

 

 

United Bank NRI Account Interest Rates

United Bank NRI Account Interest Rates

United Bank of India (UBI) is one of the 14 major banks which were nationalized on July 19, 1969. Its predecessor the United Bank of India Ltd., was formed in 1950 with the amalgamation of four banks viz. Comilla Banking Corporation Ltd. (1914), Bengal Central Bank Ltd. (1918), Comilla Union Bank Ltd. (1922) and Hooghly Bank Ltd. (1932) (which were established in the years indicated in brackets after the names). The origin of the Bank thus goes as far back as to 1914. As against 174 branches, Rs. 147 crores of deposits and Rs. 112 crores of advances at the time of nationalisation in July, 1969, today the Bank is 100% CBS enabled with more than 1700 branches and offices and is having a Total business of more than Rs 1.5 lac crore. Presently the Bank is having a Three-tier organisational set-up consisting of the Head Office, 33 Regional Offices and the Branches.

After nationalisation, the Bank expanded its branch network in a big way and actively participated in the developmental activities, particularly in the rural and semi-urban areas in conformity with the objectives of nationalisation. In recognition of the role played by the Bank, it was designated as Lead Bank in several districts and at present it is the Lead Bank in 30 districts in the States of West Bengal, Assam, Manipur and Tripura. The Bank is also the Convener of the State Level Bankers’ Committees (SLBC) for the States of West Bengal and Tripura.

UBI played a significant role in the spread of banking services in different parts of the country, more particularly in Eastern and North-Eastern India. UBI has sponsored 4 Regional Rural Banks (RRB) one each in West Bengal, Assam, Manipur and Tripura. These four RRBs together have over 1000 branches. United Bank of India has contributed 35% of the share capital/ additional capital to all the four RRBs in four different states. In its efforts to provide banking services to the people living in the not easily accessible areas of the Sunderbans in West Bengal, UBI had established two floating mobile branches on motor launches which moved from island to island on different days of the week. The floating mobile branches were discontinued with the opening of full-fledged branches at the centers which were being served by the floating mobile branches. UBI is also known as the ‘Tea Bank’ because of its age-old association with the financing of tea gardens. It has been the largest lender to the tea industry.

The Bank has three full fledged Overseas Branches one each at Kolkata, New Delhi and Mumbai with fully equipped dealing room and SWIFT terminal . Operations of all the branches have since been computerized and Electronic Fund Transfer System came to be implemented in the Bank’s branches across the country. The Bank has ATMs all over the country and customers can use United International Debit Card at all VISA ATMs across the globe.

Interest Rates on Deposits and Service Charges 
Rates at a quick glance  Deposit Accounts

NATURE

RATE OF INTEREST

MINIMUM BALANCE

 

NORMAL

SENIOR CITIZEN

RURAL

SEMI URBAN

URBAN

ACCOUNT
1. Savings Bank Account
A. Domestic
a. with cheque book facility

4%

4%

Rs 500

Rs 500

Rs 500

b. without cheque book facility

4%

4%

Rs 50

Rs 100

Rs 100

c. No Frills Account

4%

4%

0

0

0

B. Non Resident
a. NRO

 4%

  4%

b. NRE

 4%

  4%

Retail Term Deposit.   Interest Rates Domestic Retail Term Deposit  below 5 Crore

Sl. No.

Period of Deposit

Revised Rates w.e.f
16.08.2013

Other than Sr. Citizen

Rate for Sr. Citizen

1.

7 Days to 14 Days

5.00

5.00

2.

15 Days to 29 Days

5.00

5.00

3.

30 Days to 45 Days

5.50

5.50

4.

46 Days to 60 days

8.00

8.00

5.

61 Days to 90 Days

8.00

8.00

6.

91 Days to 180 Days

8.50

8.50

7.

181 days to 269 Days.

8.75

8.75

8.

270 Days to less than 1 Year

8.75

8.75

9.

1 Year to less than 2 Year

9.00

9.50

11.

2 years to less than 3 years

8.75

9.25

12.

3 years to less than 5 years

8.75

9.25

13.

5 years and above

8.75

9.25

For Accepting Single Deposit above Rs 5 CroreConcerned Branch should obtian prior permission from GM Treasury on its acceptance and rate of interest.

Time Bucket

Rates of Tax Savings Deposit Scheme  (Growth & Income Plan)w.e.f 04.04.2013

Other than Sr. Citizen

Addl. Rate for Sr. Citizen

5yrs Lockin Period

8.75

0.50

The following are rate of interest for deposit of Rs 5.00 crore and above for today

Valid Only On    Period InterestAmount
26 Aug 2013For 39 Days9.95 %100 Crores
26 Aug 2013For 91-365 Days10.25 %375  Crores


Penalty for Premature withdrawal For Retail Deposits (below Rs 100 lac):

Particular

Penalty

If Term Dposit is closed  prematurely withdrawn within 7 days from the date of deposit.No interest will be paid
If closed prematurely beyond 7 days and withdrawn the deposit.1% penalty will be levied on the rate of interest applicable for the period the depost remained with the Bank.
If prematurely withdrawn for reinvesting the deposit for a period longer than the residual period of the original deposit.Interest will be paid at the rate applicable on the date of original deposit for the period for which the deposit remained with the Bank without applying any penaly of 1 %.
If the term deposit is renewed by premature  withdrawal  for a period shorter than the remaining period of the deposit.Penaly will be charged @ 1 %.

Saraswat Bank Term Deposit Interest Rate

Saraswat Bank Term Deposit Interest Rate

The Bank has a very humble but a very inspiring beginning. On 14th September 1918, “The Saraswat Co-operative Banking Society” was founded. Mr. J.K. Parulkar became   its first Chairman, Mr. N.B. Thakur, the first Vice-Chairman, Mr. P.N. Warde, the first Secretary and Mr. Shivram Gopal Rajadhyaksha, the first Treasurer. These were people with deep and abiding ideals, faith, vision, optimism and entrepreneurial skills. These dedicated men in charge of the Society had a commendable sense of service and duty imbibed in them. Even today, our honorable founders inspire a sense of awe and respect in the Bank and amongst the shareholders

MISSION STATEMENT
“To emerge as one of the premier and most preferred banks in the country by adopting the highest standards of professionalism and excellence in all the areas of working”

Deposit Scheme Interest Rates

1)   Interest rate on term deposits w.e.f. 16th August 2013  For Deposits below Rs.1 crore

Tenor

ROI For

 General Public

(% p.a)

ROI For

Senior Citizens

(% p.a)

15 days to 90 days

6.75

6.75

91 days to 179 days

7.00

7.00

180 days up to 1 yr

7.50

7.50

Above 1 year up to 18 months

8.00

8.00

Above 18 months up to 36 months

8.50

9.00

Above 36 months up to 60 months

9.00

9.50

Above 60 months  and upto 84 months

8.00

8.50

 

For Single term deposit of Rs. 1 cr & Above

Tenor

ROI For

 General Public

(% p.a)

ROI For

Senior Citizens

(% p.a)

15 days to 90 days

7.50

7.50

91 days to 179 days

8.00

8.00

180 days up to 1 yr

8.25

8.25

Above 1 year up to 18 months

8.00

8.00

Above 18 months up to 36 months

8.50

9.00

Above 36 months up to 60 months

9.00

9.50

Above 60 months  and upto 84 months

8.00

8.50

 

Deposits under Kalpataru Deposits scheme will be accepted for a period of 12 months to 36 months only

Deposits under Recurring Deposits scheme will be accepted for a period of 12 months to 36 months only.

Interest Rate on Madhukar Tax Scheme will be at 9.00% p.a payable quarterly.

The existing practice of charging penal interest @1% on all deposits which are prematurely closed and reinvested regardless of the residual period of deposit will continue. The existing practice of charging penal interest (1%) on premature withdrawal of deposits will also continue. 

The revised rate of interest will apply for all credits received on or after 16th August 2013. 

2)Interest rate on Savings deposit schemes w.e.f. 1st April, 2012 is 4% p.a

 

NRI Deposit Rates

1)Interest Rates on NRE Term deposits w.e.f. 5th July, 2013.

  Tenor  Rates for All Categories (% p.a)
   1 year  7.50
  Above 1 year up to 18 months  8.00
  Above 18 months up to 36 months  8.50
  Above 36 months up to 60 months  8.50

The revised deposit rates will apply only to fresh deposits and on renewal of maturing deposits.

Deposits under NRE Kalpataru Deposits scheme will be accepted for a period of  12 months to 36 months only.

Deposits under NRE Recurring Deposits scheme will be accepted for a period of 12 months to 36 months only.

The existing practice of charging penal interest @1% on all deposits which are prematurely closed and reinvested regardless of the residual period of deposit will continue. The existing practice of charging penal interest (1%) on premature withdrawal of deposits will also continue.

The revised rate of interest will apply for all credits received on or after 5th July 2013. 

2.) Interest Rates on NRO Term deposits w.e.f. 5th July, 2013

For General Public :

TenorRates for All Categories (% p.a)
15 days to 90 days

6.75

91 days to 179 days

7.00

180 days upto 1 year

7.50

Above 1 year upto 18 months

8.00

Above 18 months upto 36 months

8.50

Above 36 months upto 60 months

9.00

Above 60 months and upto 84 months

8.00

The revised deposit rates will apply only to fresh deposits and on renewal of maturing deposits.

Deposits under NRO Kalpataru Deposits scheme will be accepted for a period of 12 months to 36 months only.

Deposits under NRO Recurring Deposits scheme will be accepted for a period of 12 months to 36 months only.

The existing practice of charging penal interest @1% on all deposits which are prematurely closed and reinvested regardless of the residual period of deposit will continue. The existing practice of charging penal interest (1%) on premature withdrawal of deposits will also continue.

The rate of interest on NRO/NRE savings account will continue @ 4%p.a..

The revised rate of interest will apply for all credits received on or after 5th July 2013.

3) Interest rates on Foreign Currency (Non–Resident) Term Deposit (for period01/08/2013 to 31/08/2013

  FCNR DEPOSITS:-                                (Interest % p.a.)

  Period of Deposit  USD  EUR
  One Year and above but less than Two Years  2.67  2.47
  Two Years and above but less than Three Years  2.48  –
  Three Year and above but less than Four Years  3.78  –
  Four Years and above but less than Five Years  4.17  –
  Five Years only  4.56  –

Interest rates on Foreign Currency deposits are subject to monthly changes dependent upon the LIBOR/SWAP rates for respective currency/maturity on the preceding month. Acceptance of FCNR deposit in GBP, CAD and AUD is subject to prior approval of IBD

4) Interest rate on RFC term deposits (for period 01/08/2013 to 31/08/2013)

  RFC SAVINGS DEPOSITS (USD):  0.19 %

 

  RFC FIXED DEPOSITS:  USD  EUR
  1 Year and above but less than 2 Years  2.67  2.47
  2 Years and above but less than 3 Years  2.48  –
  3 years only  3.78  –

The existing practice of charging penal interest @1% on all deposits which are prematurely closed and reinvested regardless of the residual period of deposit will continue. The existing practice of charging penal interest (1%) on premature withdrawal of deposits will also continue.
5) Interest rate on NRE Savings deposits is 4% p.a.

6) Interest rate on NRO Savings deposits is 4% p.a.

7) Interest rate on RFC Savings deposits – USD (for period 01/08/2013 to 31/08/2013) is 0.19% p.a.

 

UCO Bank Saving Account Interest Rates

UCO Bank Saving Account Interest Rates

Founded in 1943, UCO Bank is a commercial bank and a Government of India Undertaking. Its Board of Directors consists of government representatives from the Government of India and Reserve Bank of India as well as eminent professionals like accountants, management experts, economists, businessmen, etc.

Our Vision Statement

To emerge as the most trusted, admired and sought-after world class financial institution and to be the most preferred destination for every customer and investor and a place of pride for its employees.

Our Mission Statement

To be a Top-class Bank to achieve sustained growth of business and profitability, fulfilling socio-economic obligations, excellence in customer service; through upgradation of skills of staff and their effective participation making use of state-of-the-art technology.

Global banking has changed rapidly and UCO Bank has worked hard to adapt to these changes. The Bank looks forward to the future with excitement and a commitment to bring greater benefits to you.

UCO Bank, with years of dedicated service to the Nation through active financial participation in all segments of the economy – Agriculture, Industry, Trade & Commerce, Service Sector, Infrastructure Sector etc., is keeping pace with the changing environment. With a countrywide network of more than 2500 service units which includes specialised and computerised branches in India and overseas, UCO Bank has marched into the 21st Century matched with dynamism and growth.

DOMESTIC DEPOSITS

– Rate(s) of interest on Domestic Term Deposits stands revised with effect from 30.05.2013

NOTE-1The bank shall accept deposits for a minimum period of 7 days provided minimum deposit amount is Rs.15 lacs & above.
NOTE-2The deposits rates on the above term slab shall be applicable for all deposits up to Rs. 5 crores contracted afresh/renewal hereafter.
NOTE-3The incentive rate of interest to Sr. Citizen payable on deposit amount of less than Rs. 1 crore as under

Term

Additional Interest Payable

Deposits maturing upto 1 Year

0.25%

Deposits maturing above 1 Year

0.50%

NOTE-4The additional rate payable on the deposits of Staff/Ex-staff/Ex-staff Sr. Citizen is as per the following

Category

Term

Additional Rate Payable

Staff/Ex-Staff

All Terms

1.00%

Ex-Staff Sr. Citizen

All Terms

1.25%

NOTE-5The overall amount ceiling for Ex-staff/ Ex-Staff Sr. Citizen to receive incentive rate shall be equal to his Terminal benefits + Rs.10 lacs

Revision in rate of interest in Term Deposits of Rs. 1 crore and aboveto Rs. 5 crore – rates effective from – 05.08.2013

a) TERM DEPOSITS Rs. 1.00 CRORES AND ABOVE TO Rs. 5.00 CRORES

Circular No. CHO/RM/15/2013-14

Sr.
No.

Maturity Period

Interest Rate in % p.a.

01.

7-14 days

7.50

02.

15-29 days

7.50

03.

30-45 days

7.50

04.

46-60 days

7.50

05.

61-90 days

8.00

06.

91-120 days

8.50

07.

121-150 days

8.50

08.

151-183 Days

8.50

09.

184-364 Days

8.50

10.

1 year

8.70

11.

More than 1 year but up to 2 years

8.75

12.

Above 2 years and up to 3 years

8.75

13.

Above 3 years and less than 5 years

8.75

14.

5 years and above

8.75

b) TERM DEPOSITS ABOVE Rs. 5.00 CRORES – Rates effective from – 13.08.2013

T&I: MUM :TDR:012:2013-14

Sr. No.

Time Period

Term Deposit above Rs. 5.00 Cr

Present Rate

Revised Rate

01.

7 – 14 Days

7.25

7.25

02.

15 – 30 Days

8.25

8.25

03.

31 – 60 Days

9.25

9.25

04.

61 – 91 Days

9.75

9.82

05.

92 – 130 Days

9.80

9.85

06.

131 – 183 Days

9.00

9.00

07.

184 – 269 Days

8.20

8.20

08.

270 – 359 Days

8.40

8.40

09.

360 -375 Days

8.75

8.75

10.

376 Days – < 2 Years

8.50

8.50

11.

2 Years but < 3 Years

8.50

8.50

12.

3 Years but < 5 Years

8.25

8.25

13.

5 Years & above

8.25

8.25

SAVINGS BANK DEPOSIT

Interest Rate payable on Savings Bank Deposit Accounts is @4.00% per annum with effect from 03.05.2011

NON-RESIDENT DEPOSIT SCHEMES

Revision in Rate of Interest in NRE Term Deposits of Rs. 1.00 Crore and above to Rs. 5.00 Crores – Rates effective from – 15.07.2013 :

(A) NRE Rupee Term Deposit :

Sr. No.

Period

Less than Rs. 1 Crore

01.

1 year and above upto 3 years

8.75%

02.

Above 3 years but less than 5 years

8.75%

03.

5 years and above upto 10 years

8.75%

Sr. No.

Time Period

NRE Term Deposit
Rs. 1.00 Crores and
above to Rs. 5.00 Crores

01.

1 year

8.70

02.

More than 1 year upto 2 years

8.75

03.

Above 2 years upto 3 years

8.75

04.

Above 3 years to less than 5 years

8.75

05.

5 years and above

8.75

  1. All Zonal Offices are requested to note the above mentioned interest rates for NRE Term Deposits of above Rs. 1.00 Crore and above upto 5.00 crores effective from 15.07.2013.
  2. The above card rates are valid for single deposits (Fresh & Renewal).
  3. No cash deposits to be accepted.
  4. Term Deposit mobilized with the above rates should be advised to Integrated Treasury Branch, Mumbai on the same day by Zonal Offices/Branches.
  5. Rate of Term Deposit should be quoted valid for one day only. Whenever quote is to be given for more than one day, prior permission should be obtained from DGM, Treasury Branch, Mumbai or General Manager, T & IW, HO, Kolkata.
  6. For premature closure penal charges shall be 1% less than applicable rate for which the term deposit of more than 1.00 Crore and above to 5.00 crores was held by the branch as on the date of deposit or the present rate as on the date of premature closure whichever is lower.
  7. Under no circumstances branches are allowed to quote beyond the rates mentioned supra. Zonal offices and FGM offices are requested to ensure strict compliance.
  8. As per the latest ALM Policy, the term deposit ‘above 5.00 Cr to 25.00 Cr‘ and ‘above 25.00 Cr‘ are termed as ‘Mid Corporate’ and ‘Large Corporate’ Term Deposits, respectively and in future, reporting has to be made under the said category, accordingly.

NRE TERM DEPOSITS ABOVE Rs. 5.00 CRORES – RATES EFFECTIVE FROM – 15.07.2013:

Sr. No.

Time Period

NRE – TERM DEPOSIT
ABOVE Rs. 5.00 CRORES

01.

365 -375 Days

8.25

02.

376 Days – < 2 Years

8.50

03.

2 Years but < 3 Years

8.50

04.

3 Years but < 5 Years

8.25

05.

5 Years & above

8.25

  1. All Zonal Offices are requested to note the above mentioned interest rates for NRE Term Deposits of above Rs. 5.00 Crore are effective from 15.07.2013.
  2. The above card rates are valid for single deposits (Fresh & Renewal).
  3. No cash deposits to be accepted.
  4. For premature closure penal charges shall be 1% less than applicable rate for which the term deposit of more than 5.00 Crore was held by the branch as on the date of deposit or the present rate as on the date of premature closure whichever is lower.
  5. Under no circumstances branches are allowed to quote beyond the rates mentioned supra. Zonal offices and FGM offices are requested to ensure strict compliance.

(B) Revised interest rates on FCNR(B) deposits (effective from 15.08.2013)

Currency

1 year to less than 2 years

2 years to less than 3 years

3 years to less than 4 years

4 years to less than 5 years

5 years only

USD

(%)

2.67

2.48

4.78

5.17

5.56

GBP

(%)

2.86

2.71

4.87

5.11

5.41

EUR

(%)

2.47

2.56

4.74

4.96

5.20

JPY

(%)

2.41

2.28

4.32

4.38

4.46

CAD

(%)

3.37

3.55

5.78

6.03

6.26

AUD

(%)

4.48

4.65

6.89

7.19

7.42

CHF

(%)

2.24

2.20

4.34

4.52

4.73

NZD

(%)

4.91

5.37

7.71

7.97

8.18

SEK

(%)

3.28

3.45

5.67

5.89

6.11

SGD

(%)

2.48

2.71

5.00

5.41

5.80

HKD

(%)

2.51

2.65

4.93

5.31

5.70

MYR

(%)

5.28

5.37

7.48

7.70

7.84

[Presently branches are advised not to take any deposit in NZD & MYR currencies due to some technical reason.]

(C) Revised interest rate on RFC deposits (effective from 15.08.2013) :

SAVINGS BANK:

CURRENCY (%) – GBP (0.50%) and AUD (3.00%) [For all other currencies no rate has been prescribed]

TERM DEPOSITS:

Currency

1 year to less than 2 years

2 years to less than 3 years

3 years to less than 4 years

4 years to less than 5 years

5 years only

USD

(%)

2.67

2.48

4.78

5.17

5.56

GBP

(%)

2.86

2.71

4.87

5.11

5.41

EUR

(%)

2.47

2.56

4.74

4.96

5.20

JPY

(%)

2.41

2.28

4.32

4.38

4.46

CAD

(%)

3.37

3.55

5.78

6.03

6.26

AUD

(%)

4.48

4.65

6.89

7.19

7.42

CHF

(%)

2.24

2.20

4.34

4.52

4.73

NZD

(%)

4.91

5.37

7.71

7.97

8.18

SEK

(%)

3.28

3.45

5.67

5.89

6.11

SGD

(%)

2.48

2.71

5.00

5.41

5.80

HKD

(%)

2.51

2.65

4.93

5.31

5.70

MYR

(%)

5.28

5.37

7.48

7.70

7.84

NRNR and NRSR Deposits : Discontinued w.e.f. 01.04.02. The existing accounts under NRNR Deposit scheme may be continued only upto the date of maturity. The existing NRSR accounts other than Term Deposits shall not be continued after 30.09.02

Syndicate Bank Term Deposit Interest Rates

Syndicate Bank Term Deposit Interest Rates

Syndicate Bank was established in 1925 in Udupi, the abode of Lord Krishna in coastal Karnataka with a capital of Rs.8000/- by three visionaries – Sri Upendra Ananth Pai, a businessman, Sri Vaman Kudva, an engineer and Dr.T M A Pai, a physician – who shared a strong commitment to social welfare. Their objective was primarily to extend financial assistance to the local weavers who were crippled by a crisis in the handloom industry through mobilising small savings from the community. The bank collected as low as 2 annas daily at the doorsteps of the depositors through its Agents under its Pigmy Deposit Scheme started in 1928. This scheme is the Bank’s brand equity today and the Bank collects around Rs. 2 crore per day under the scheme.

The progress of Syndicate Bank has been synonymous with the phase of progressive banking in India. Spanning over 80 years of pioneering expertise, the Bank has created for itself a solid customer base comprising customers of two or three generations. Being firmly rooted in rural India and understanding the grassroot realities, the Bank’s perception had vision of future India. It has been propagating innovations in Banking and also has been receptive to new ideas, without however getting uprooted from its distinctive socio-economic and cultural ethos. Its philosophy of growth by mutual sustenance of both the Bank and the people has paid rich dividends. The Bank has been operating as a catalyst of development across the country with particular reference to the common man at the individual level and in rural/semi urban centres at the area level.

The Bank is well equipped to meet the challenges of the 21st century in the areas of information technology, knowledge and competition. A comprehensive IT plan is being put in place and the skills and knowledge of the Bank’s personnel are being upgraded through a variety of training programmes to promote customer delight in every sphere of its activity. The Bank has launched an ambitious technology plan called Centralised Banking Solution (CBS) whereby 500 of our strategic branches with their ATMs are being networked nationwide over a 4 year period. The Bank is pioneer among Public Sector Banks on launching CBS. Our bank has already achieved CBS implementation among all its branches. Thus, the bank is 100% CBS enabled.

Interest Rates on Saving Bank Account

Type of Account

Rate of Interest (in %)

Minimum Balance (in Rs)

Normal

Senior Citizen

Rural

Semi Urban

Urban

Domestic Account
With cheque book facility

4

4

500

500

1000

Without cheque book facility

4

4

100

100

500

No Frills Account
With cheque book facility

4

4

500

500

500

Without cheque book facility

4

4

NIL

NIL

NIL

Non Resident Account
NRO

4

4

500

500

1000

NRE

4

4

500

500

1000

 

INTEREST RATES ON DEPOSITS

Tenors

Revised w.e.f.20.08.2013

Less than   Rs. 1 cr

Rs. 1 cr to   Rs.10 cr

*

> Rs.10 cr uptoRs.25 cr

*

> Rs.25 cr uptoRs.50 cr

*

> Rs.50 cr uptoRs.100 cr

*

`100 cr

*

7 to 14 days

7.10

7.10

8.51

8.51

8.51

8.51

15 to 30 days

7.10

7.10

8.51

8.51

8.51

8.51

31 to 45 days

7.10

7.10

8.51

8.51

8.51

8.51

46 to 60 days

7.75

7.75

9.00

9.00

9.00

9.00

61 to 90 days

7.10

7.75

9.01

9.01

9.01

9.01

91 to 120 days

7.10

7.75

9.31

9.31

9.31

9.31

121 to 179 days

8.00

8.00

9.01

9.01

9.01

9.01

180 to 269 days

8.50

8.50

9.81

9.81

9.81

9.81

270 to 363 days

9.00

9.00

9.81

9.81

9.81

9.81

364 days

9.00

9.00

9.81

9.81

9.81

9.81

1 year exact

9.05

9.05

9.91

9.91

9.91

9.91

Above 1 yr up to 2 yrs

8.50

8.50

8.25

8.50

8.50

8.25

Above 2 yrs up to 5 yrs

8.00

8.00

8.25

8.00

8.00

8.25

Above 5 yrs up to 10 yrs

8.00

8.00

8.25

8.00

8.00

8.25

  • *Acceptance of deposits of over `.5Crores is at the discretion of the Bank. .
  • Additional interest of 0.50% over the card rate is payable to Resident Indian Senior Citizens on Domestic Term Deposits ofless than `5 Crore and the maturity tenor of one year and above only. (Not applicable to NRO deposits).
  • Employees / eligible Ex-employees are eligible for an additional interest of 1% over the card rate irrespective of the amount and tenor of deposit (Not applicable on NRO deposits).
  • Eligible ex-employees,  who are Senior Citizens and eligible for an additional interest of 1% payable to employees / eligible ex-employees are also eligible for an additional interest of 0.50% payable to Resident Indian Senior Citizens on domestic term deposits of less than ` 5 Crore & maturity tenor of one year and above only..

Note :

  1. The above rates are subject to revision from time to time.
  2. Customers may contact the nearest branch of Syndicate Bank for details.

 

Rates of Interest on Non Resident Rupee Term Deposits A/C’s

The Current Interest Rates on NRE Rupee Term Deposit A/cs. are given below:

Tenors

Revised w.e.f.20.08.2013

Less than    Rs 1 cr

Rs 1 cr to  Rs 10 cr

*

> Rs 10 cr upto Rs25 cr

*

> Rs 25 cr uptoRs 50 cr

*

> Rs 50 cr upto Rs100 cr

*

`Rs 100 cr

*

1 year exact

9.05

9.05

9.91

9.91

9.91

9.91

Above 1 yr up to 2 yrs

8.50

8.50

8.25

8.50

8.50

8.25

Above 2 yrs up to 5 yrs

8.00

8.00

8.25

8.00

8.00

8.25

Above 5 yrs up to 10 yrs

8.00

8.00

8.25

8.00

8.00

8.25

  • *Acceptance of deposits of over `.5Crores is at the discretion of the Bank.
  • Additional interest to Employees / eligible ex-employees and senior citizens as applicable to Domestic Tem Deposits is not applicable on NRE deposits.
  • Rates quoted on daily basis over the above card rates on Domestic TDs will be  treated as DRI(Differential Rates of Interest) and such deposits will be DRI deposits.

 

 Premature withdrawal of NRE Term deposits:1. The premature withdrawal of term deposit of Rs.5.00 Crores and above is at the discretion of the bank.
2. The interest payable in respect of term deposits withdrawn before maturity would be the rate applicable to the period for which deposit remained with the bank as on date of deposit or at contracted rate, whichever is lower less the penalty at prescribed rate.
3. In respect of term deposits of Rs.5.00Crores and above accepted on or after 24.08.2013 and sought to be withdrawn before maturity the penalty would be 2%.
4. In all other cases the penalty for premature withdrawal of term deposits will be 1%.
5. The Rate of  interest in respect of premature renewal of term deposits be the rate applicable to the period for which deposit remained with the bank as on date of deposit or at contracted rate, whichever is lower less the penalty at the rate of 0.50%.
6. In case of  pre mature withdrawal/ pre mature renewal of Term Deposits no interest is payable where the period for which the deposit remained with the bank is less than 1 year  and  penalty is not applicable under such cases.