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================ Blog maintained by : P. Radhamohan Nair, Private Secretary to Post Master General, (Retired) Northern Region, Calicut, Kerala Circle=================

Friday, November 25, 2016

GDS COMMITTEE CHAIRMAN SUBMITTED ITS REPORT TO THE SECRETARY POSTS




No over the counter exchange of old Rs. 500 and Rs. 1000 by post offices after midninght on 24.11.16


Directorate issued DA order @7% to GDS staff


Discontinuation of Indian Postal Orders (IPOs)


Revision in Interest Rates on Domestic Bulk Term Deposits (Rs.1-10 crs) W.E.F. 24.11.2016


  

DOMESTIC TERM DEPOSITS

Revision in Interest Rates on Domestic Bulk Term Deposits (Rs.1-10 crs) W.E.F. 24.11.2016
The revised Interest rates on 'Domestic Bulk Term deposits (Rs.1-10 crs) with effect from 24th November 2016 will be as per following table:

(All figures in % per annum)
Tenors
Existing w.e.f. 17.11.2016
Revised w.e.f 24.11.2016
Existing for Senior Citizen w.e.f 17.11.2016
Revised for Senior Citizen w.e.f. 24.11.2016
7 days to 45 days
5.00
3.75
5.50
4.25
46 days to 179 days
5.50
3.85
6.00
4.35
180 days to 210 days
5.75
3.85
6.25
4.35
211 days to less than 1 year
5.75
4.00
6.25
4.50
1 year to 455 days
6.00
4.25
6.50
4.75
456 days to less than 2 years
6.00
4.25
6.50
4.75
2 years to less than 3 years
6.00
4.25
6.50
4.75
3 years to less than 5 years
5.50
4.25
6.00
4.75
5 years and up to 10 years
5.50
4.25
6.00
4.75

Revision In Interest Rates On Domestic Bulk Term Deposites (above Rs. 10 crs) W.E.F. 24.11.2016
The revised Interest rates on 'Domestic Bulk Term deposits (above Rs. 10 crs) with effect from 24thNovember 2016 will be as per following table:
(All figures in % per annum)
Tenors
Existing w.e.f. 17.11.2016
Revised w.e.f 24.11.2016
Existing for Senior Citizen w.e.f 17.11.2016
Revised for Senior Citizen w.e.f. 24.11.2016
7 days to 45 days
4.75
3.75
5.25
4.25
46 days to 179 days
5.25
3.85
5.75
4.35
180 days to 210 days
5.50
3.85
6.00
4.35
211 days to less than 1 year
5.50
4.00
6.00
4.50
1 year to 455 days
5.50
4.25
6.00
4.75
456 days to less than 2 years
5.50
4.25
6.00
4.75
2 years to less than 3 years
5.50
4.25
6.00
4.75
3 years to less than 5 years
5.00
4.25
5.50
4.75
5 years and up to 10 years
5.00
4.25
5.50
4.75

Premature payment of Bulk term deposits:
Premature penalty for Bulk Term Deposits for all tenors will be 1%. It will be applicable for all new deposits including renewals. There is no discretion for reduction/waiver of penalty for premature withdrawal of term deposit
The revised rates of interest shall be made applicable to fresh deposits and renewals of maturing deposits. The interest rates on NRO term deposits shall be aligned as per the rates for domestic term deposits. These rates of interest shall also be made applicable to domestic term deposits from Cooperative Banks.


Source : https://www.sbi.co.in/portal/web/interest-rates/domestic-term-deposits