Interest rate on deposit
Interest rate on deposit
Interest Rate on Deposit
Revision of Rate of Interest on Term Deposits
| Tenure | Existing Rate (%) Effective from 5th December, 2022 to 27th April, 2025 |
Revised Rate (%) With effect from 28th April, 2025 (Monday) |
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| Less than Rs.1.00 Cr. | Rs. 1.00 Cr. & Above For General / Senior Citizen |
Less than Rs.1.00 Cr. | Rs. 1.00 Cr. & Above For General / Senior Citizen |
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| 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 | 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 | 4.05 | 4.05 | 4.00 | 4.05 | 4.15 |
| 15-29 days | 4.10 | 4.10 | 4.05 | 4.15 | 4.25 | 4.10 | 4.10 | 4.05 | 4.15 | 4.25 |
| 30-45 days | 4.15 | 4.15 | 4.15 | 4.25 | 4.35 | 4.15 | 4.15 | 4.15 | 4.25 | 4.35 |
| 46-90 days | 4.50 | 4.50 | 4.30 | 4.35 | 4.50 | 4.50 | 4.50 | 4.30 | 4.35 | 4.50 |
| 91-180 days | 5.25 | 5.25 | 4.35 | 4.50 | 4.75 | 5.25 | 5.25 | 4.35 | 4.50 | 4.75 |
| 181 to 364 days | 5.50 | 5.50 | 4.75 | 4.80 | 4.85 | 5.50 | 5.50 | 4.75 | 4.80 | 4.85 |
| 1 year | 7.00 | 7.50 | 7.10 | 7.25 | 7.35 | 6.80 | 7.30 | 6.80 | 6.80 | 6.80 |
| Above 1 year to less than 3 years | 6.75 | 7.00 | 6.50 | 6.55 | 6.60 | 6.75 | 7.00 | 6.50 | 6.55 | 6.60 |
| 3 years to 5 years | 6.50 | 6.75 | 6.25 | 6.30 | 6.35 | 6.50 | 6.75 | 6.25 | 6.30 | 6.35 |
| More than 5 years to 10 years | 6.25 | 6.50 | 6.00 | 6.05 | 6.10 | 6.25 | 6.50 | 6.00 | 6.05 | 6.10 |
Revision of Interest rate on Special Scheme with effect from 28/04/2025
| For MIS Individual for 3 years |
Existing Rate (%) | Revised Rate (%) | ||||||
| Less than Rs.1.00 Cr | 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 | Less than Rs.1.00 Cr | 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 | |
| For Common People | 6.50 | 6.25 | 6.30 | 6.35 | 6.50 | 6.25 | 6.30 | 6.35 |
| For Senior Citizens | 6.75 | 6.25 | 6.30 | 6.35 | 6.75 | 6.25 | 6.30 | 6.35 |
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Interest on Statutory Fund like RF, BDRF, ACSF and Staff Security Deposit [Highest Rate for 1 Year tenure] |
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Reserve Fund, Bad Debt Reserve Fund, Agriculture Credit Stabilization Fund [To be verified with supporting documents including Audit Reports] |
Existing Rate (%) | Revised Rate (%) |
| 7.35 | 6.80 | |
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. 2.00 Crore (For Banks) / Rs.0.50 Crore [(For Co-op. Societies (Excl. Co-op. Bank), Govt. Deposit, Institution etc.)] 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 is 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.
| Memo No. HO/MD/GM(Banking)/143/1(110) | Dated: Kolkata, the 22th April, 2025 |
Copy forwarded for information and necessary action to:-
- The Chairman/Vice-Chairman/ Special Officer, Balageria / Bankura / Birbhum / Burdwan / Dakshin Dinajpur / Darjeeling / Hooghly / Howrah / Jalpaiguri / Malda / Mugberia / Murshidabad / Nadia / Purulia / Raiganj / Tamluk-Ghatal / Vidyasagar Central / District Central Co-operative Bank Ltd.
- The Chief Executive Officer / General Manager / Assistant General Manager, Balageria / Bankura / Birbhum / Burdwan / Dakshin Dinajpur / Darjeeling / Hooghly / Howrah / Jalpaiguri / Malda / Mugberia / Murshidabad / Nadia / Purulia / Raiganj / Tamluk-Ghatal / Vidyasagar Central / District Central Co-operative Bank Ltd.
- The Regional Manager, The West Bengal State Co-operative Bank Ltd. Coochbehar / North 24-Parganas / South 24-Parganas Region.
- The Branch Manager (All) The West Bengal State Co-operative Bank Ltd.
- The Assistant General Manager (CBS Section) with an instruction to take up the matter with M/s. TCS Ltd. for implementation.
- The Assistant General Manager (All), The West Bengal State Co-operative Bank Ltd.
- The Assistant General Manager (All), The West Bengal State Co-operative Bank Ltd.
- The Project-in-charge, M/s. TCS Ltd.[( Already discussed and requested over mail on 23rd April, 2025 for implementation w.e.f. 28th April, 2025 (Monday)].
C.C. to:-
- The Special Officer of the Bank.
- The General Manager (All) of the Bank.
- P.A. to MD / P.A. to Special Officer of the Bank.