Interest Rates on Deposits
Domestic Deposits (With Effect from 02-01-2024)
|
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)
|
| |
Savings Deposits
|
4.00%
|
4.00%
|
4.00%
|
|
TERM DEPOSITS
|
|
1.
|
7 Days to 29 Days
|
3.50%
|
4.00%
|
4.25%
|
|
1.
|
30 Days to 90 Days
|
5.00%
|
5.50%
|
5.75%
|
|
2.
|
91 Days to 180 Days
|
5.00%
|
5.50%
|
5.75%
|
|
3.
|
181 Days to 299 Days
|
5.75%
|
6.25%
|
6.50%
|
|
4.
|
300 Days
|
6.50%
|
7.00%
|
7.25%
|
|
5.
|
301 Days & upto 1 year
|
6.25%
|
6.75%
|
7.00%
|
|
6.
|
Above 1 Year & upto 2 Years
|
7.50%
|
8.00%
|
8.25%
|
|
7.
|
Above 2 Years & upto 3 Years
|
7.25%
|
7.75%
|
8.00%
|
|
8
|
Above 3 Years & Upto 5 Years
|
6.75%
|
7.25%
|
7.50%
|
|
9.
|
Above 5 Years
|
6.50%
|
7.00%
|
7.25%
|
|
TAX SAVER SCHEME:
|
|
10.
|
5 Years & Above
|
6.50%
|
7.00%
|
7.25%
|
Note 1: Deposits under Mahesh Multiplier Deposit Scheme(MMD) will be accepted only in multiples of quarters.
2: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% "
