Interest Rates
Deposits
The Board of Directors of the Bank has resolved to revise the prevailing interest rates of term deposits.with €ffect trom O2/O2/2O24
| Deposit Period | Standard Rates | Senior Citizen |
|---|---|---|
| 15 days to 45 days | 3.50 % | 4.00 % |
| 46 days to 179 days | 4.75 % | 5.25 % |
| 180 days to 210 days | 5.75 % | 6.25 % |
| 211 days to 364 days (less than 1 year.) | 6.00 % | 6.50 % |
| 365 days to 729 days (less than 2 years.) | 6.80 % | 7.30 % |
| 730 days to 1094 days (less than 3 years.) | 7.00 % | 7.50 % |
| 1095 days to 1824 days (less than 5 years.) | 6.75 % | 7.25 % |
| 1825 days to 3650 days (less than 10 years.) | 6.50 % | 7.00 % |
| Deposit Period | Standard Rates |
|---|---|
| 12 months | 5.75 % |
| 24 months | 6.00 % |
| 3 years to 10 years | 5.50 % |
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No additional rates will be applicable for senior citizens.
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Deposits Can be made only for completed years and not allowed for part of year
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Saving Deposit : 2.70%
| Deposit Period | Standard Rates | Senior Citizen |
|---|---|---|
| 377 days of Deposits | 6.97 % | 7.47 % |
| 444 days of Deposits | 7.48 % | 7.98 % |
| 577 days of Deposits | 7.15 % | 7.65 % |
| 777 days of Deposits | 7.23 % | 7.73 % |
| 1111 days of Deposits | 7.72 % | 8.22 % |
| 1777 days of Deposits | 7.93 % | 8.43 % |
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Interest will be paid only on due date.
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The deposits under this scheme is allowed only for the above said days and not applicable for the days in between.
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The regular deposit scheme interest is applicable in the case of premature closing.
| Deposit Period | Standard Rates |
|---|---|
| 1 year | 7.30 % |
| 2 years | 7.90 % |
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Premature payment not allowed in this scheme.
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Interest will be paid only on due date.
| Deposit Period | Standard Rates | Senior Citizen |
|---|---|---|
| 12 months | 6.80 % | 7.30 % |
| 24 months | 7.00 % | 7.50 % |
| 36 months | 6.75 % | 7.25 % |
| 48 months | 6.75 % | 7.25 % |
| 5 yrs to 10 yrs | 6.50 % | 7.00 % |
Loans
In supersession of the previous circulars in exercise, the Board of Directors of the Bank has resolved to revise the prevailing interest rates of loans with effect from 1st March 2021 vide DBR No.12 dated 12.02.2021. The details of modified rates are shown hereunder.
| Loan Types | Interest Rates |
|---|---|
| ITU Centenary M.T. Loan, L.T. Loan & Business Loan | 12.45 % |
| ITU Centenary Overdraft | 11.95 % |
| Business Cash Credit | 11.75 % |
| SME Business Loan | 10.95 % |
| SME Business OD | 10.95 % |
| Premium Business loan | 9.95 % |
| Premium Business Overdraft | 9.95 % |
| Housing Loan | 10.45 % |
| Premium House loan | 9.45 % |
| Educational Loan | 11.95 % |
| Gold Overdraft | 9.25 % |
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All the new Gold loan products will be charged 0.25% insurance charges as one time charge and 0.1% per month service charges. Service charges will be charged at the time of closing of loans.
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Term Loans & Overdrafts will not have interest subsidy facilities.
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Maximum amount payable as loan in ITU Ashwas Gold Loan 3 Month will be Rs.300 lakhs.
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Maximum amount payable as loan will be Rs.2 lakhs in all other bullet type of Gold loans.
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Premium Loans can be disbursed only to high rated customers.
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Legal charges@1% will be charged for Term loans/overdrafts, if the loans classify as Non Performing Asset.