Rate of Interest

Interest rate on deposit

Rate of interest on loan

news and event

Extension of Last date for Bid submission of the RFP : WBSCB/TENDER/Calendar-2023/1.1 dated 19/10/2022 for Calendar & Diary

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RFP REF NO. WBSCB/TENDER/Calendar-2023/1.1 dated 19/10/2022 FOR THE SELECTION OF VENDOR FOR PRINTING & SUPPLY OF CALENDAR AND DIARIES FOR THE YEAR 2023

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RFP REF NO. WBSCB/TENDER/KASHINAGAR/Interior/1.1 dated 24/02/2022 for SELECTION of VENDOR for COMPOSITE WORK OF INTERIOR FURNISHING ALONG WITH CIVIL WORK, ELECTRICAL WORK, CCTV and HVAC WORK for our KASHINAGAR BRANCH

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CORRIGENDUM-3 : Postponement of RFP No. WBSCB/POS/1.1 dated 29.09.2021 for Procurement of Point-of-Sale Devices

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Revision of Rate of Interest on Term Deposits with effect from 5th December, 2022

Tenure
	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	4.05	4.05	4.00	4.05	4.15
15-29 days	4.10	4.10	4.05	4.15	4.25
30-45 days	4.15	4.15	4.15	4.25	4.35
46-90 days	4.50	4.50	4.30	4.35	4.50
91-180 days	5.25	5.25	4.35	4.50	4.75
181 to 364 days	5.50	5.50	4.75	4.80	4.85
1 year	7.00	7.50	7.10	7.25	7.35
Above 1 year to less than 3 years	6.75	7.00	6.50	6.55	6.60
3 yrs. to 5 yrs.	6.50	6.75	6.25	6.30	6.35
More than 5 yrs.	6.25	6.50	6.00	6.05	6.10

Revision of Interest rate on Special Scheme with effect from 05/12/2022
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 but Less than Rs. 25.00 Cr.	Rs. 25.00 Cr & Above but Less than Rs. 100.00 Cr.	Rs. 100.00 Cr & Above
For Common People	6.50	6.25	6.30	6.35
For Senior Citizens	6.75	6.25	6.30	6.35

Interest on Statutory Fund like RF, BDRF and ACSF and Staff Security Deposit(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 (%)
	7.35

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. 5.00 cr and above is at the discretion of Bank's Authority
For Interest Rates of Single Bulk Deposit of Rs. 5.00 crore and above is dynamic would be “Negotiable”, Kindly contact nearest Branch or Head Office.
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.
Submission of Income Tax PAN is mandatory, failing which TDS will be deducted at a higher rate as per Indian Income Tax Laws.
In case, of reinvestment deposits, the interest reinvested is post TDS recovery and hence the maturity amount for re-investment deposits would vary to the extent of tax and compounding effect on tax for the period subsequent of deduction till maturity.
For pre-mature withdrawal; the Penal Interest Rate of 1% shall be applicable on the rate. The rate for premature closure will be lower of the rate for the original/contracted tenure for which the deposit has been booked or the rate applicable for the tenure for which the deposit has been in force with the bank. Except in case of death of the depositors.

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