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Deposit Rates
Revision of Rate of interest w.e.f. 08.12.2016
In super session of all previous letters regarding rate of interests on Term Deposits, the revised rate of interests on Term Deposits with effect from 01.05.2018 are as under: –
| Period | Rates of interest as on 11.04.2017 | Revised Rates of interest w.e.f. 01.05.2018 | ||
| For Senior Citizen only | For Senior Citizen only | |||
| 7-14 days | 4.00% | 4.00% | 4.00% | 4.00% |
| 15-30 days | 4.00% | 4.00% | 4.00% | 4.00% |
| 31-45 days | 4.00% | 4.00% | 4.00% | 4.00% |
| 46-90 days | 6.00% | 6.00% | 6.00% | 6.00% |
| 91-179 days | 6.00% | 6.00% | 6.00% | 6.00% |
| 180 days to < 1 year | 6.00% | 6.00% | 6.00% | 6.00% |
| 1 year to < 2 years | 6.50% | 6.75% | 6.50% | 7.00% |
| 2 years to < 3 years | 6.50% | 6.75% | 6.50% | 7.00% |
| 3 Years and above | 6.50% | 6.75% | 6.50% | 7.00% |
As already approved, the 1% penal rate of interest on deposits regarding premature withdrawal of domestic term deposits is also waived off by the aforesaid resolution. The Committee authorizes the General Manager of the bank to circulate the revision in rates of interest on deposits and loans to all the Branch Managers/all concerns.
© The Chandigarh State Cooperative Bank Limited Chandigarh,2014
