Interest Rate


Interest rate on Saving Bank Deposit 2.85%

 

w.e.f. 10th September, 2021
Maturity Range Rates (%p.a.)

7 days to 14 days

3.25%

15 days to 30 days

3.25%

31 days to 45 days

3.25%

46 days to 90 days

4.25%

91 days to 179 days

4.25%

180 days and above but less than 270 days

4.95%

270 days and above but less than 1 year

5.05%

1 year and above but less than or equal to 18 months

5.10%

Above 18 months but less than or equal to 2 years

5.35%

Above 2 years but less than or equal to 3 years

5.35%

Above 3 years but less than or equal to 5 years

5.35%

Above 5 years but less than or equal to upto 10 years

5.35%

Naini Tax Saver Scheme*

6.35%

*Premature withdrawal not allowed before completion of 05 years except in case of death of the customer.

Domestic Term Deposits for Senior Citizens: - Branches may continue to pay an additional interest of 0.50% on domestic term deposits of less than Rs. 2.00 crore to Senior Citizens for all tenors in terms of extant guidelines, except under Naini Tax Saver Scheme.

Domestic Term Deposits for Staff Members: - Branches may continue to pay an additional interest of 1% on domestic term deposits of less than Rs. 2.00 crore to all Staff Members for all tenors in terms of extant guidelines, except under Naini Tax Saver Scheme.

In case of retired Staff members who are Senior Citizens resident in India, branches are authorized to pay additional interest of 1.50% per annum (i.e. 1% normal staff privilege plus 0.50% as a benefit of being a Senior Citizen on their fresh term deposits and renewals of existing resident Term Deposits of less than Rs. 2 Crores for maturities from 15 days to 10 years.

Please extend additional rate (as applicable) to staff members and senior citizen staff members only in case where name of staff member/senior citizen staff is notified as principal (first name) account holder in account.

We reiterate that in case of premature payment of term deposits, interest rate shall be 1% less than the interest rate applicable for the period the deposit remained with the bank as per existing guidelines. Please, further note that rates for bulk deposits (single deposit of Rs 2.00 Crores and above) are determined by Treasury Department, Head Office, Nainital and are directly updated in the CBS System, on need based business requirements of the bank.

Please bring the contents of this circular to the notice of all staff members for their information and knowledge and copy thereof should also be placed on Notice Board for general information of visiting persons and customers.

For Bulk Deposit-Rs. 2.00 crore and above including Inter Bank Deposits, reference to be made to 
Investment Department, HO Nainital. (05942-237138)
or Write to - investment@nainitalbank.co.in
  • Rate quoted are subject to change without notice.
  • The revised rates are applicable for fresh deposits and renewal of old deposits.
  • In case of premature payment of Term Deposit, Interest Rate shall be 1% less than the interest rate applicable, at the time of placing the deposit, for the period the deposit remained with the Bank.

 

Effective Period : September 10th, 2021 - October 09th, 2021
Tenor MCLR in %

Overnight

7.10

1 Month

7.10

3 Month

7.15

6 Month

7.25

1 Year

7.40

2 Year

7.70

Above 2 Year

8.20