• Gramin Bank FD Interest Rates

    Kerala Gramin Bank offers a wide variety of fixed deposit schemes with competitive interest rates that range from 3.50% p.a. to 5.45% p.a. for deposits up to Rs.1 crore. Tenures are flexible and range from one week and up to 10 years. The bank offers 0.50% additional rate of interest to senior citizens for deposits up to Rs.15 lakh.

    Kerala Gramin Bank FD Interest Rates for Domestic Term Deposits Less Than Rs.1 Crore

    These are the term deposit interest rates effective from 5 January 2021:

    Tenure For General Public (p.a.) For Senior Citizens (p.a.)
    7 days to 45 days 3.50% 4.00%
    46 days to 90 days 3.80% 4.30%
    91 days to 179 days 5.10% 5.60%
    180 days to 344 days 5.05% 5.55%
    345 days 5.60% 6.10%
    346 days to less than 365 days 5.05% 5.55%
    365 days only 5.45% 5.95%
    Above 1 year to 10 years 5.40% 5.90%

    KGB Senior Suraksha Fixed Deposit Interest Rates

    This is a fixed deposit scheme only for senior citizens that is applicable for deposits ranging from Rs.5 lakh to Rs.15 lakh. There is an additional 0.80% interest above the normal rate given for a single deposit of above Rs.5 lakh in one day. The latest interest rates effective from 5 January 2021 are as given below:

    Tenure Interest Rates (p.a.)
    7 days to 45 days 6.20%

    Gramin Tax Saver (GTS) Fixed Deposit Interest Rates

    You can avail tax exemption for an investment of up to Rs.1.5 lakh (in one financial year) as per Section 80C of the Income Tax Act, 1961. The interest rate for this scheme effective from 5 January 2021 is given below:

    Tenure General Public FD interest rate (per annum) Senior citizen FD interest rate (per annum)
    5 years 5.40% 5.90%

    KGB Dhanam Fixed Deposit Interest Rates – Domestic and NRO

    This scheme is applicable for deposits ranging from Rs.5,000 to Rs.14,99,999. The interest rates given below are effective from 5 January 2021:

    For General Public (p.a.) For Senior Citizens (p.a.)
    5.60% 6.10%

    KGB NRO Term Deposit Interest Rates

    The interest rates for NRO term deposits effective from 5 January 2021 are as given below:

    Tenure For General Public (p.a.) For Senior Citizens (p.a.)
    7 days to 45 days 3.50% NA
    46 days to 90 days 3.80% NA
    91 days to 179 days 5.10% NA
    180 days to 344 days 5.05% NA
    345 days 5.60% NA
    346 days to less than 365 days 5.05% NA
    365 days only 5.45% NA
    Above 1 year to 10 years 5.40% NA

    KGB NRE Term Deposit Interest Rates

    These are the NRE interest rates effective from 5 January 2021:

    Tenure Interest Rates (p.a.)
    Only for one year 5.45%
    Above 365 days to less than 5 years 5.40%
    Above 5 years to 10 years 5.40%

    Term-wise Kerala Gramin Bank FD Interest Rates

    Kerala Gramin Bank Short-term Deposits

    • Kerala Gramin Bank offers short-term fixed deposits that have a tenure ranging from 7 days to less than one year for which the interest rate offered to general citizens is in the range of 3.50% p.a. to 5.05% p.a.

    Kerala Gramin Bank Medium-term Deposits

    • The medium-term fixed deposits offered by Kerala Gramin Bank have tenures ranging from 1 year to less than 5 years with interest rates that range from 5.40% p.a. to 5.45% p.a.

    Kerala Gramin Bank Long-term Deposits

    • Kerala Gramin Bank long-term fixed deposits are those with tenures ranging from above 5 years to 10 years and offer an interest rate of 5.40% p.a.

    Kerala Gramin Bank Fixed Deposits for Senior Citizens

    • The bank offers senior citizens an additional interest only for deposits of up to Rs.15 lakh. There is a 0.50% p.a. additional interest rate for such term deposits.

    Factors that Affect Kerala Gramin Bank Fixed Deposit Rates

    Some of the factors that can affect Kerala Gramin Bank's fixed deposit interest rates are:

    • Type of depositor: Those above the age of 60 will get 0.50% to 0.80% p.a. additional interest rate.
    • Deposit Tenure: There are higher interest rates for fixed deposits booked for a longer tenure.
    • Economic conditions: The prevailing economic conditions on a national and global scale have an effect on the interest rates offered by banks.

    Calculating Kerala Gramin Bank FD Interest Rates

    Calculating how much your fixed deposit amount will be on maturity will help you plan ahead and also compare fixed deposit rates for different tenures so that you can choose the one that will fetch you the highest interest rate and thus, the highest maturity amount. This can easily be done using the online FD calculator which is free, reliable, accurate, and quick to generate results.

    Here's an example to understand this better:

    To do a comparison using the free online FD calculator, if you invest Rs.1 lakh in a fixed deposit account with Kerala Gramin Bank FD for just one year, with the current rate of interest for that tenure being 5.05% p.a. for the general public, (and assuming that you are below the age of 60) your amount on maturity will be Rs.1,05,050, with the interest component being Rs.5,050.

    If you choose a tenure of 5 years for the same amount, with the current rate of interest being 5.40% p.a. for that tenure, your amount on maturity will be Rs.1.3 lakh with the interest earned being Rs.30,078.

    FAQs on Kerala Gramin Bank Fixed Deposit Interest Rates

    1. Will I get the same interest rate if I prematurely close my Kerala Gramin Bank FD?

      Kerala Gramin Bank allows for premature closure of FD at any point in the tenure with a penalty of 1% on the rate of interest applicable for the period for which the deposit was invested with the bank.

    2. Do I have to pay TDS for Kerala Gramin Bank Tax Saver FD?

      Yes, TDS is applicable for all tax-saver fixed deposit accounts.

    3. Will I get the same interest rate if I prematurely close KGB Senior Suraksha FD?

      If you close the KGB Senior Suraksha FD prematurely, the additional interest rate of 0.30% will not be given and there will be a penal cut of 1% on the lowest interest rate that is payable.

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