Interest Rate On Deposit & Loan
The revised rate of interest on Deposits shall be applicable to the fresh deposits and renewal cases as under with effect from 01.01.2023.
| SL NO | Existing rate of interest | Revised rate of interest w.e.f. 14.11.2023 |
|---|---|---|
| 1 | 3.25% | 3.25% |
| SL NO | Maturity slab of Term Deposits | Existing rate of interest | Revised rate of interest w.e.f. 14.11.2023 |
|---|---|---|---|
| 1 | 7 days to 14 days | 3.25% | 4.00% |
| 2 | 15 days to 45 days | 3.50% | 4.00% |
| 3 | 46 days to 60 days | 4.50% | 5.00% |
| 4 | 61 days to 90 days | 4.50% | 5.25% |
| 5 | 91 days to 120 days | 4.50% | 5.50% |
| 6 | 121 days to 180 days | 4.75% | 6.00% |
| 7 | 181 days & above, less than 1 year | 5.75% | 6.50% |
| 8 | 1 year & above, less than 2 years | 7.00% | 7.25% |
| 9 | 2 years & above, less than 3 years | 6.80% | 7.00% |
| 10 | 3 years & above, less than 5 years | 6.50% | 6.80% |
| 11 | 5 years & above, less than 10 years | 6.50% | 6.50% |
. Premature Payment of Term Deposits: Interest to be paid on premature withdrawal of term deposits at 0.50% below the applicable for the period of deposits has remained with the Bank or 0.50% below the contracted rate, whichever is lower.
. Loan against Deposit will be allowed at 1% more than the admissible rate of interest
. Senior Citizen (60 years & above) will be allowed additional interest 0.50 paisa in the above slab.
. In pursuant to the Rule No.7(ii) of the Business Rules for Deposit Counters of PACS prescribed by the Registrar of Cooperative Societies, Odisha in Order No.11099 dated 30.05.2011, the Bank shall allow 0.50% more interest on the deposits of such PACS having Deposit Counters than the normal rate of interest.(for 1 year & above slabs)
