1)Interest Rates on NRE Term deposits w.e.f. 5th March, 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 |
9.00 |
| Above 36 months up to 60 months |
9.00 |
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 above 12 months to 36 months only.
Deposits under NRE Recurring Deposits scheme will be accepted for a period of above 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 March 2013.
2)Interest Rates on NRO Term deposits w.e.f. 5th March, 2013
| Tenor |
Rates 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 |
9.00 |
| Above 36 months upto 60 months |
9.50 |
| Above 60 months and upto 84 months |
8.50 |
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 revised rate of interest will apply for all credits received on or after 5th March 2013.
3) Interest rates on Foreign Currency (Non–Resident) Term Deposit (for period 01/05/2013 to 31/05/2013
FCNR DEPOSITS:- (Interest % p.a.)
| Period of Deposit |
USD |
EUR |
| One Year and above but less than Two Years |
2.70 |
2.40 |
| Two Years and above but less than Three Years |
2.36 |
- |
| Three Year and above but less than Four Years |
3.45 |
- |
| Four Years and above but less than Five Years |
3.60 |
- |
| Five Years only |
3.82 |
- |
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 01/05/2013 to 31/05/2013)
| RFC SAVINGS DEPOSITS (USD): |
0.20 % |
| RFC FIXED DEPOSITS: |
USD |
EUR |
| 1 Year and above but less than 2 Years |
2.70 |
2.40 |
| 2 Years and above but less than 3 Years |
2.36 |
- |
| 3 years only |
3.45 |
- |
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 01/05/2013 to 31/05/2013) is 0.20% p.a.
