Fixed Deposits

For details on interest rates for fixed deposits ranging from 7 days to 10 years, click here

• For Rupee Term Deposits of a contracted amount less than Rs. 5 Crore opened / renewed on or after May 1, 2014 (including Flexi Deposits), interest rate will be 1.00% below the card rate, prevailing as on the date of deposit, as applicable for the period the deposit has remained with the bank or 1.00% below the contracted rate, whichever is lower. However, for Rupee Term Deposits closing within 14 days from the date of booking of the deposit, the interest rate will be the rate applicable for the period the deposit has remained with the bank or the contracted rate, whichever is lower.
• For Rupee Term Deposits of a contracted amount less than Rs. 5 crores opened/renewed on or after December 15, 2017 (including Flexi Deposits), for the first partial withdrawal with value <= 25% of the Term Deposit’s original principal value, Premature Closure Penalty Rate will not be applicable. For subsequent partial withdrawals, Premature Closure Penalty Rate will be applicable on the entire withdrawal amount. For the partial withdrawal with value > 25% of Term Deposit original principal value, Premature Closure Penalty Rate will be applicable for the entire withdrawal amount. However, for Rupee Term Deposits closing within 14 days from the date of booking of the deposit, the interest rate shall be the rate applicable for the period the deposit has remained with the bank or the contracted rate, whichever is lower.
• For Rupee Term Deposits of a contracted amount of Rs. 5 Crores and above, the interest rate shall be 1% below the card rate prevailing as on the date of deposit, as applicable for the period the deposit has remained with the bank or 1% below the contracted rate, whichever is lower. This would also be applicable to Rupee Term Deposits closing within 14 days from the date of booking of the deposit.
• There would be no premature withdrawal penalty on NRE Term Deposits

Hassle-free opening of deposits from the comfort of your home / office

You can invest for a short tenure of 7 days only

Interest accrued on the deposit each quarter is invested along with the principal.
Interest is calculated on total sum; net of Tax Deducted at Source (TDS).

Move funds from a Savings Account to a Fixed Deposit to earn higher interest

• Only on principal: Only principal is rolled over and interest is credited to a designated account or paid out.
• On principal and interest: Both deposit and interest accrued for the same tenure at the interest rate applicable on maturity date.

• For Fixed Deposits with tenure of 6 months and above, interest is calculated on a quarterly basis
• Interest earned during the previous quarter is added to the principal for calculation of interest. Fixed deposit interest rate on this amount is calculated every quarter
• For Fixed Deposit schemes with tenure below 6 months, interest is calculated at simple interest. Please note that the period of the Fixed Deposit is considered in number of days
• Deposits can be booked in completed months only under Interest payout option
• In case you choose to receive the periodic interest payments on a quarterly basis, interest rates is calculated and paid on quarterly basis
• The Fixed Deposit rate applicable for a monthly interest option will be discounted rate over the standard rate