Deposits Interest Rate
Subject:-Revision of interest rates on Fixed Deposits with effect from 13-06-2022
Interest Office letter no. 1908/Accounts/2020-21 dt. The interest rates on fixed accounts issued by October 17, 2020 were changed from date - 19.10.2020. Keeping in view the return received on the bank's resources, the change in interest rates by the nationalized banks and the apex bank, with the permission of Hon'ble Chairman, on or after 13.06.2022, the interest rates on deposits and renewing fixed deposits are determined as follows -
|
Serial No. |
Time Period |
Pre Interest Rate | Updated Interest Rates in % yearly (effective from 13/06/2022) |
| 1. | 7 days to 14 days | 3.25 | 3.50% |
| 2. | 15 days to 45 days | 3.50 | 3.75% |
| 3. | 46 days to 90 days | 3.75 | 3.85% |
| 4. | 91 days to 180 days | 4.25 | 4.40% |
| 5. | More than 181 days but less than 1 year | 4.75 | 5.00% |
| 6. | More than 1 year upto 2 year | 5.50 | 5.75% |
| 7. | More than 2 year upto 3 year | 5.50 | 5.75% |
| 8. | More than 3 year but less than 5 year | 5.25 | 6.00% |
| 9. | More than 5 year but up to 10 year | 5.25 | 6.25% |
| S.No. | Account holder type | Deposit funds | Duration | Proposed interest rate |
| 1. | On the fixed account of retirement teachers, retirement government employees / officers and retirement bank employees / officers |
Minimum Rs. 100000.00 (One lakh only) | minimum 12 months | 0.50% extra over the prevailing interest rate |
| 2. | On fixed accounts of girls and women | Minimum Rs.5000.00 | minimum 12 months | 0.50% extra over the prevailing interest rate |
Important Note: Only one benefit will be admissible to women from the above number-1 or number-2.
The above benefits will be payable to senior citizens and women only in fixed deposits (except recurring deposit accounts).
It is further directed that fixed deposits above Rs. 20000 should be ensured to be made through transfer transfer from savings account / current account of the customers
Note:-For more details,please contact Barabanki District Co-Operative Bank Ltd. nearest Branch.
