• Gramin Bank Fixed Deposit

    Kerala Gramin Bank offers fixed deposits with attractive interest rates that assure high returns with flexible investment tenures, affordable minimum deposit amounts that make it accessible to a wide section of income demographics, and several other favorable features.

    FD Interest Rates for Regular and Senior Citizens:

    Given below are the FD rates for regular and senior citizens effective 5 January 2021:

    Tenure Regular Interest Rate(per annum) Senior Citizen Interest Rate(per annum)
    7 days to 14 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 1 year 5.05% 5.55%
    Only 1 year 5.45% 5.95%
    Above 1 year to above 10 years 5.40% 5.90%

    *The below mentioned rates are for deposits that are of less than Rs.1 crore.

    FD Interest Rates for KGB Senior Suraksha

    KGB Senior Suraksha is applicable for deposits which are between Rs.5 lakh and Rs.15 lakh with a minimum tenure of 5 years. The interest given to senior citizens under this scheme is 0.80% above the normal rate, which means senior citizens get an additional 0.30% interest on single deposits exceeding Rs.5 lakh in a single day. The rate of interest, as of 5 January 2021, for this scheme is 6.20% p.a.

    KGB Dhanam 345 Retail Term Deposit – Domestic and NRO Interest Rates

    The interest rates for this scheme effective 5 January 2021 are as given below:

    Tenure Only 345 days
    For general public (interest p.a.) 5.60%
    For senior citizens (interest per annum) 6.10%

    Gramin Tax-Saver (GTS) Deposit Interest Rates

    The interest rate under this scheme effective 5 January 2021 are as given below:

    Tenure Only 5 years
    For general public (interest p.a.) 5.40%
    For senior citizens (interest per annum) 5.90%

    Gramin NRE Term Deposits Interest Rates

    The interest rates for NRE term deposits are as given below, effective 5 January 2021:

    Tenure Interest Rate Per Annum
    Only 1 year 5.45%
    Above 1 year to less than 5 years 5.40%
    Above 5 years to 10 years 5.40%

    Gramin Bank Short-Term FD Rates

    • There are a lot of options for depositors who want to put money in an FD for a short period of time.
    • The fixed deposit interest rate offered by the bank is very competitive for all deposit tenures.
    • The interest offered ranges from a minimum of 3.50% p.a. to 5.05% p.a. for tenures that range from a minimum of 7 days to less than 1 year.
    • The highest rate of interest paid is 5.60% p.a. for investing the money for a period of 345 days under the KGB Dhanam 345 Retail Term Deposit Scheme.
    • The second-best rate of interest paid is 5.05% p.a. for a tenure that ranges between 180 days to 344 days.

    Gramin Bank Medium-Term FD rates

    • The highest rate of interest paid for this type of deposit scheme is 5.45% p.a., for a tenure of exactly 1 year.

    Gramin Bank Long-Term FD rates

    • Long-term FDs are generally for those who have saved up a certain amount of cash and want to keep it in a safe deposit and earn good returns
    • The rate of interest offered on all Gramin Bank long-term deposits is 5.40% p.a.
    • Investors can choose to invest either in tenure from 5 years to above 10 years
    • Those seeking tax benefits can choose to go for the tax saver FD scheme through which a deduction of up to Rs.1.5 lakh can be claimed under Section 80C of the Income Tax Act

    Gramin Bank Senior Citizen FD Rates

    • All those who are 60 years and above will fall in the senior citizen age bracket and will consequently get a higher interest rate
    • The rate of interest paid to senior citizens by Gramin Bank ranges from 4.00% p.a. to 6.10% p.a.,
    • The highest rate of interest paid to senior citizens by the bank is 6.10% p.a. for investing the money for a period of 345 days under the KGB Dhanam 345 Retail Term Deposit Scheme.
    • The second-highest rate of interest paid is 5.95% p.a. for a tenure of 1 year
    • Under the KGB Senior Citizen Scheme, the interest rate is 6.20% p.a. for deposits ranging from a minimum of Rs.5 lakh to a maximum of Rs.15 lakh and a minimum tenure of 5 years.

    FAQs

    1. Does Kerala Gramin Bank offer loan against deposit for its fixed deposits?

      Yes, loan against fixed deposit is available for Kerala Gramin Bank fixed deposits with interest rate that is 2% above the deposit rate.

    2. What is the maximum limit for Kerala Gramin Bank fixed deposits?

      There is no maximum limit for Kerala Gramin Bank fixed deposits.

    3. Is nomination facility available for Kerala Gramin Bank fixed deposits?

      Yes, nomination facility is available for Kerala Gramin Bank fixed deposits.

    4. Is auto-renewal facility available for Kerala Gramin Bank fixed deposits?

      Yes, auto-renewal facility is available for Kerala Gramin Bank fixed deposits.

    5. Can we open a Kerala Gramin Bank fixed deposit online?

      To open a Kerala Gramin Bank fixed deposit, you would have to visit your nearest KGB branch.

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    Gramin Bank Fixed Deposit Reviews

    • review
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken my fixed deposit with KERALA TRANSPORT DEVELOPMENT FINANCIAL CORPORTATION LTD, they service is good they provide me good interest rate,my grow of deposit is good , and i am making payment through online like it get auto debited
      Was this review helpful? 25
      , hyderabad
      Reviewed on Oct 29, 2018
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