Rates of Interest
The Bank is observing “DEPOSIT MOBILISATION MONTH” during the month of December, 2011.
Interest rate on Saving Bank Accounts of Individuals/Societies @ 4%
A special Recurring Deposit Scheme for a period of 76 months @ 8.50% for all category.
Interest rate on deposits w.e.f. 01/12/2011
| Sr. No. | Period | General | Sr. Citizen |
|---|---|---|---|
| 1 | 15 days to 45 days | 4.50% | 4.50% |
| 2 | 46 days to 90 days | 4.75% | 4.75% |
| 3 | 91 days to 180 days | 7.00% | 7.00% |
| 4 | 181 days to 12 months | 8.00% | 8.00% |
| 5 | Above 12 months to 24 months | 9.00% | 9.50% |
| 6 | Special Deposit Scheme for 36 months (quarterly payable) | 11.00% | 11.00% |
| 7 | Above 36 months to 60 months | 9.25% | 9.75% |
| 8 | Above 60 months to 120 months | 8.00% | 8.50% |
Premature withdrawal of any term deposit will attract 2% less interest than the applicable rate at the time of placing the deposit or current rate for applicable period whichever is less for the period the deposit is kept with the Bank.
Interest rate on advances w.e.f. 01/10/2011
| Cash Credits | 14% to 15% |
| Housing Loans | 12 % to 13 % |
| Mortgage Loans | 15 % |
| Loans against Rent receivable | 15 % |
| Loans for Consumer Durables | 16% |
| Loan against Gold & Silver Ornaments | 13.5% |
| Loan against Term Deposits . | 1% above the interest being paid on Deposit irrespective of amount of loan |
| Vehicle Loans | 14% to 15.5% |
| Personal Loans | 16% to 18% |
| Loan against pledge of Govt. Security | 14% |
| Educational Loans | 14% |
| Shares & Debentures | 17% |
Copyright 2008 @ The City Co-Operative Bank Ltd., Mumbai
