Interest Rates on Deposits
Domestic Deposits (With Effect from 20-01-2023)
| S.No. |
Slab/Category |
Rate of Interest |
|
|
|
Resident Indians |
Sr. Citizens
(Resident Indians)
(60 Yrs to 75 Yrs)
|
Super Sr. Citizens
(Resident Indians)
(Above 75 Yrs)
|
NRE
(Minimum Period 1 Year)
|
|
Savings Deposits |
4.00% |
4.00% |
4.00% |
4.00% |
| TERM DEPOSITS |
| 1. |
7 Days to 29 Days |
3.25% |
3.75% |
4.00% |
- |
| 1. |
30 Days to 90 Days |
4.75% |
5.25% |
5.50% |
- |
| 2. |
91 Days to 180 Days |
4.75% |
5.25% |
5.50% |
- |
| 3. |
181 Days to 299 Days |
5.50% |
6.00% |
6.25% |
- |
| 4. |
300 Days |
6.25% |
6.75% |
7.00% |
- |
| 5. |
301 Days & upto 1 year |
6.00% |
6.50% |
6.75% |
6.00% |
| 6. |
Above 1 Year & upto 2 Years |
7.00% |
7.50% |
7.75% |
7.00% |
| 7. |
Above 2 Years & upto 3 Years |
7.00% |
7.50% |
7.75% |
7.00% |
| 8 |
Above 3 Years & Upto 5 Years |
6.25% |
6.75% |
7.00% |
6.25% |
| 9. |
Above 5 Years |
6.25% |
6.75% |
7.00% |
6.25% |
| TAX SAVER SCHEME: |
| 10. |
5 Years & Above |
6.25% |
6.75% |
7.00% |
- |
Note 1: Deposits under Mahesh Multiplier Deposit Scheme(MMD) will be accepted only in multiples of quarters.
2: Additional rate of interest applicable to Senior Citizen,Super Senior Citizen is not applicable for NRE deposits.
3:Foreclosure of deposit attracts 1% penalty.
"On premature closure of Term Deposit, the rate of interest payable will be
the Applicable Rate ( at the time of Opening of Term Deposit Account) for
the period for which the Deposit has run Less penalty of 1% "
Deposit Schemes
Andhra Pradesh Mahesh Co-operative Urban Bank offers different deposit schemes with lucrative Interest Rates.
- Mahesh Multiplier Deposit Scheme (MMD)
- Fixed Deposits
- Mahesh Automatic Renewal Scheme (MARS)
- Recurring Deposits (RD)
- Mahesh Tax Saver Fixed Deposit & Mahesh Tax Saver Multiplier Deposit Scheme
- Note: " On premature closure of Term Deposit, the rate of interest payable will be the Applicable Rate ( at the time of Opening of Term Deposit Account) for the period for which the Deposit has run Less penalty of 1% "
