Recurring/Flexi Recurring Deposit

Tenure Rate of Interest#
Normal Senior Citizen
6 months to less than 15 months 7.10% 7.60%
Above 15 month to 10 years 7.00% 7.50%

(Flexi Recurring Deposit Accounts are opened for term expressed in multiple of quarters. Interest for terms of 6 months and above is compounded quarterly and payable at maturity.)


  • The incentive for Senior Citizens/ Staff will be an additional spread of 0.5% over the above card rates.
  • High value deposits of Rs 25 lacs and above will be at an additional spread of 0.25% over the card rates.
  • Card rates up to 6 months are on simple interest basis. All rates above 6 months shall be quarterly compounded.
  • Tax at source is deducted as per Income Tax regulations prevalent from time to time.

SPECIAL SCHEMES (applicable for all categories including Senior Citizens and High Value deposits)

  • SMCB 1.5 The principal amount becomes 1.5 times in 1870 days @ 8.00% (10,000/will become 15,005/-)
  • SMCB DOUBLE The principal amount gets doubled in 3197 days @ 8.00% (10,000/will become 20,003/-)


  • A customer can avail additional interest under only one scheme (either in Sr. Citizen or in High Value)
  • For Senior citizen age of the first applicant should be 60 years or above. (HUF cannot avail Senior citizen benefits)
  • Please note that premature payment will attract 1% penalty on the interest for the period, which the deposit has run, or card rate of original deposit whichever is less

Loan Rate of Interest#
Home Loan 10.00%
Personal & Consumption Loans (Mortgage Loans) 12.00%
Car / Auto Loans 12.00%
Two Wheeler Loan 12.00%
Demand Loans For Working Capital 14.00%
Loans To Professionals 12.00%
Loan For Micro SSI Unit 12.00%
Retail Traders Loan 14.00%
Commercial Vehicle Loans 14.00%
Cash Credit Loan 14.00%
Joint Libiltey Group 10.00%