Interest Rate


Interest rate on Saving Bank Deposit 2.85%

 

w.e.f. 01 st January, 2023
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

6.60%

Above 18 months but less than or equal to 2 years

6.25%

Above 2 years but less than or equal to 3 years

6.25%

Above 3 years but less than or equal to 5 years

5.75%

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

5.35%

Naini 2023 Deposit Scheme (Callable) -705 days

7.05%

Naini 2023 Deposit Scheme Deposit (Non-Callable) – 705 days

7.10%

Naini Tax Saver Scheme*

5.75%

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

** New Scheme Naini 2023 Deposit (Callable and Non-callable) of 705 days has been introduced w.e.f 01.01.2023

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 Super Senior Citizens: - Branches will now pay an additional interest of 0.60% (0.50% + 0.10%) on domestic term deposits of less than Rs. 2.00 crore to Super Senior Citizens (Customers who have attained the age of 80 years) 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, except under Naini Tax Saver Scheme and in case of retired Staff members who are Super Senior Citizens resident in India, branches are authorized to pay additional interest of 1.60% per annum (i.e. 1% normal staff privilege plus 0.60% as a benefit of being a Super 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, except under Naini Tax Saver Scheme

Please extend additional rate(as applicable) to staff members, senior citizen staff members and Super Senior Citizen 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.

 

Tenor

MCLR (APPLICABLE w. e. f. 10.12.2022 to 09.01.2023) (p.a.)

MCLR (APPLICABLE w. e. f. 10.01.2023 to 09.02.2023) (p.a.)

Overnight MCLR

7.60

7.80

MCLR for One month

7.60

7.80

MCLR for Three Months

7.65

7.85

MCLR for Six  months

7.75

7.95

MCLR for 1 Year

7.90

8.10

MCLR for 2 Year

8.20

8.40

MCLR for  above 2 Year

8.90

9.10