Rate of Interest

Interest rate on deposit

Rate of interest on loan

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CANCELLATION OF RFP NO. COOPCBS20101C/1 DT. 01.03.2021

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Corrigendum – 1 For Request for Proposal (RFP) Ref. No. COOPCBS2010/IC/1 Dated 01.03.2021 for Appointment of IT Consultant on Retainer Basis for The West Bengal State Co-Operative Bank Ltd.

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Request For Proposal For Appointment Of It Consultant On Retainer Basis.

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Corrigendum Notice against RFP no: HO/L&E/1715 dated 24.12.2020 for Printing & Supply of Printed Forms and Office Stationeries

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Revision of Rate of Interest on Term Deposits with effect from 22nd January, 2021

Tenure	Revised Rate (%)
	Less than Rs. 1.00 Cr.		Rs. 1.00 Cr. & Above
	Less than Rs. 1.00 Cr.		For General / Senior Citizen
	General	Senior Citizen	Rs. 1.00 Cr. and above but Less than Rs. 25.00 Cr.	Rs. 25.00 Cr. and above but Less than Rs. 100.00 Cr.	Rs. 100.00 Cr. and above
07-14 days	4.00	4.00	3.00	3.00	3.05
15-29 days	4.05	4.05	3.00	3.05	3.10
30-45 days	4.10	4.10	3.05	3.10	3.15
46-90 days	4.15	4.15	3.10	3.15	3.20
91-180 days	4.20	4.20	3.15	3.20	3.25
181 to 364 days	4.50	4.50	3.20	3.25	3.30
1 year	5.15	5.50	5.15	5.25	5.30
Above 1 year to less than 3 years	5.10	5.45	3.50	3.55	3.60
3 yrs. to 5 yrs.	5.50	6.10	3.35	3.35	3.35
More than 5 yrs.	5.25	5.40	3.25	3.30	3.35

Revision of Interest rate on Special Scheme with effect from 22/01/2021
For MIS Individual for 3 years	Revised Rate (%)
For MIS Individual for 3 years	Less than Rs. 1.00 Cr.	Rs. 1.00 Cr & Above
For Common People	5.50	3.35
For Senior Citizens	6.10	3.35

Interest on Statutory Fund like RF, BDRF and ACSF(Highest Rate for 1 Year tenure)
Reserve Fund, Bad Debt Reserve Fund, Agriculture Credit Stabilization Fund [To be verified with supporting documents including Audit Reports]	Revised Rate (%)
	5.30

Revision of Rate of Interest on Term Deposits with effect from 4th May, 2020

Tenure	Revised Rate (%)
	Less than Rs. 1.00 Cr.		Rs. 1.00 Cr. & Above
	Less than Rs. 1.00 Cr.		For General / Senior Citizen
	General	Senior Citizen	Rs. 1.00 Cr. and above but Less than Rs. 25.00 Cr.	Rs. 25.00 Cr. and above but Less than Rs. 100.00 Cr.	Rs. 100.00 Cr. and above
07-14 days	4.00	4.00	3.25	3.30	3.50
15-29 days	4.00	4.00	3.30	3.50	4.00
30-45 days	4.15	4.15	3.60	3.75	4.15
46-90 days	4.50	4.50	3.75	4.00	4.20
91-180 days	5.25	5.25	3.80	4.05	4.25
181 to 364 days	5.50	5.50	4.50	5.00	5.50
1 year	6.00	6.35	6.00	6.10	6.20
Above 1 year to less than 3 years	6.00	6.60	4.25	4.50	4.75
3 yrs. to 5 yrs.	5.90	6.15	4.25	4.25	4.25
More than 5 yrs.	5.75	6.00	4.00	4.25	4.50

Revision of Interest rate on Special Scheme with effect from 4th May 2020
For MIS Individual for 3 years	Revised Rate (%)
For MIS Individual for 3 years	Less than Rs. 1.00 Cr.	Rs. 1.00 Cr & Above
For Common People	5.90	4.25
For Senior Citizens	6.15	4.25

Interest on Statutory Fund like RF, BDRF and ACSF
Reserve Fund, Bad Debt Reserve Fund, Agriculture Credit Stabilization Fund [To be verified with supporting documents including Audit Reports]	Revised Rate (%)
	6.20

Please note that:-

No interest is paid if the deposit is held for the tenure below 7 days
Acceptance of deposits/renewal of deposit of Rs. 1.00 cr and above is at the discretion of Bank's Authority
In case of MIS, Interest will be paid on monthly basis at discounting rate.
TDS applicable on Term deposits as per amendments in Finance Act time to time.
TDS will be deducted on the interest earned during the financial year on the total amount of deposits held by a customer in the Bank as a whole, and not on individual deposits held by him branch-wise including Recurring Deposits.

All concerned are requested to do the needful in this regard.