Interest rate on deposit
Due to System Upgradation, all banking platforms shall be unavailable from 8 pm on 08.08.2025 to 8 am on 11.08.2025. Inconveniences caused is regretted.
RFP for Selection of Vendor for Supply, Installation, Testing and Commissioning of Air-conditioning Machines at different location of The West Bengal State Co-operative Bank Ltd.
Interest rate on deposit
| Revision of Rate of Interest on Term Deposits | |||||
| Tenure | Revised Rate (%o) With effect from l0th July, 2025 (Thursday) |
||||
| Less than Rs.1.00 Cr. | Rs. 1.00 Cr, & Above | ||||
| For General / Seaior Cltlzen | |||||
| 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.l00.00 Cr. and above | |
| 07- 14 days | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 |
| 15-29 days | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 |
| 30-45 davs | 4.05 | 4.05 | 4.05 | 4.10 | 4.15 |
| 46-90 days | 4.25 | 4.25 | 4.10 | 4.20 | 4.25 |
| 91-180 davs | 4.75 | 4.75 | 4.20 | 4.30 | 4.35 |
| 181 to 364 days | 5.75 | 5.75 | 4.75 | 4.85 | 5.00 |
| 1 year | 6.50 | 6.75 | 6.50 | 6.50 | 6.50 |
| Above 1 year to less than 3 years | 6.30 | 6.55 | 5.00 | 5.00 | 5.00 |
| 3 years to 5 years | 6.25 | 6.50 | 4.50 | 4.50 | 4.50 |
| More than 5 years to l0 years | 6.00 | 6.25 | 4.00 | 4.00 | 4.00 |
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.