Deposit Interest Rates

Interest rates for Deposits accepted/renewed by Kerala Gramin Bank

Tenure ROI effective for Domestic & NRO Term Deposits (Revised ROI from 06.07.2020)**
General Senior Citizen
7 days to 14 days* 3.50 4.00
15 days to 45 days 3.50 4.00
46 days to 60 days 4.30 4.80
61 days to 90 days 4.30 4.80
91 days to 120 days 5.20 5.70
121 days to 179 days 5.20 5.70
180 days to 344 days 5.25 5.75
345 days scheme Refer Interest rate for the scheme KGB Dhanam 345
346 days to less than 1 year 5.25 5.75
1 year only 5.80 6.30
Above 1 year to less than 2 years 5.75 6.25
2 years to 10 years 5.70 6.20

* For Deposits of Rs 5 Lakh and above only.

**Rate applicable for amount below Rs. 1 Crore. Senior citizens can be offered an additional rate of 0.50% over and above the normal rate of interest for domestic term deposits of less than Rs.15 lakhs only. (Cumulative amount less than 15 lakhs deposited for same tenure in a single day).

Penal charge of 1% is applicable for term deposits prematurely closed/ prematurely extended.

Note: - Interest rates are subject to change from time to time without prior notice. For further details, please contact the Branch Manager.

For Interest Rate on Deposits of Rs 1 Crore & above, please confirm the interest rate from the Branch Manager.

SCHEME Revised ROI w.e.f. 06.07.2020*
KGB SENIOR SURAKSHA 6.50

• Benefit of 0.80% of interest above normal rate. ie 0.30% additional benefit to senior citizen single deposit of Rs 5 lakhs and above in a day.

• Applicable for deposits of Rs 5 lakhs and above but below Rs 15 lakhs.

• Minimum period of deposit is 5 years.

• If premature closure happens, the extra benefit of 0.30% will not be available. All other premature closure norms including 1% penal cut on the lowest rate payable will be applicable.


Please note that the rate of interest is directly linked to the card rate offered by the bank from time to time.

Tenure 345 days only Revised ROI w.e.f. 06.07.2020*
For General Public 5.85% per annum (Simple)
For Senior Citizen 6.35 % per annum (Simple)

**Minimum deposit amount Rs 5000/- and maximum deposit amount Rs 14,99,999/-. Penal charge of 1% is applicable for term deposits prematurely closed/ prematurely extended.

NRO TERM DEPOSITS**: Same as applicable to Domestic Deposits.The benefit of additional/preferential interest rate on deposits on account of the depositor being bank’s own Staff or Senior Citizen shall not be available to NRO Deposits

NRE TERM DEPOSITS:

Tenure Revised ROI w.e.f. 06.07.2020*
1 year only 5.80
Above 1 year to less than 2 years 5.75
2 years to 10 years 5.70

**Rate applicable for amounts below Rs. 1 Crore

For Interest Rate on Deposits of Rs 1 Crore & above, please confirm the interest rate from the Branch Manager.

No additional interest rate for Senior Citizens.

No interest will be earned for NRE Term Deposit including NRE RD which is closed prematurely before the completion of one year, penal charge of 1% will be applicable for all NRE deposits prematurely closed after 1 year.

Note: - Interest rates are subject to change from time to time without prior notice. For further details, please contact the Branch Manager.

Tenure ROI w.e.f. 06.07.2020*
General Senior Citizen
5 years only 5.70 6.20

The ceiling amount of Investment under GTS is Rs. 1,50,000/-.

Premature closure of GTS Deposit is not allowed.

Note: - No auto renewal facility is available for Gramin Tax Saver Deposit.

Tenure Revised ROI w.e.f. 06.07.2020*
1 year only 5.80
Above 1 year to less than 2 years 5.75
2 years to 10 years 5.70

*Rate applicable for amounts below Rs. 1 Crore

No additional interest rate for Senior Citizens.

Penal charge of 1% is applicable for term deposits prematurely closed/ prematurely extended.

Note: - Interest rates are subject to change from time to time without prior notice. For further details, please contact the Branch Manager.

NRO RECURRING DEPOSITS** : Same as applicable to Domestic Deposits. No additional interest rate for Senior Citizens.


NRE RECURRING DEPOSITS:
Tenure Revised ROI w.e.f. 06.07.2020*
1 year only 5.80
Above 1 year to less than 2 years 5.75
2 years to 10 years 5.70

*Rate applicable for amounts below Rs. 1 Crore

No additional interest rate for Senior Citizens.

For Interest Rate on Deposits of Rs 1 Crore & above, please confirm the interest rate from the Branch Manager.

No interest will be earned for NRE Term Deposit including NRE RD which is closed prematurely before the completion of one year, penal charge of 1% will be applicable for all NRE deposits prematurely closed after 1 year. No additional interest rate for Senior Citizens.

Note: -Interest rates are subject to change from time to time without prior notice. For further details, please contact the Branch Manager.

Tenure ROI w.e.f. 06.07.2020*
Irrespective of Tenure 5.80

Note:- Premature closure is permissible after one year and there is no penal interest or penal cut. If the account is closed before one year then interest rate will be @ 2% on daily basis for the period remained with bank subject to satisfactory closure reasons. No partial withdrawal permitted.

• Rate of interest on Savings Bank deposits maintaining average balance below Rs 1 crore is currently fixed as 3% w.e.f 20.05.2020.

• Accounts having MAB* of Rs 1 Crore and above will be paid 0.25% more than the base rate of 3% w.e.f 01.06.2020 (ie 3.25%).


*MAB - Monthly Average Balance


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