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Gramin Banks in India offer a wide variety of products aimed at helping people save, build on their savings and manage their wealth. Fixed deposit is one of the term savings deposit account offered by the bank which provides the investors an opportunity to earn on their idle savings. The Gramin Bank fixed deposit account offers attractive rates of interest, benefits and flexible tenure period. There are many Gramin banks in the country which offer this term deposit account.
Listed below is the Eligibility criteria that needs to be fulfilled in order to apply for Gramin Bank fixed deposit account.
Listed below are the general features of Gramin Bank fixed deposit account. The features might vary slightly for different Gramin Bank fixed deposit accounts.
| Account Type | Single and joint |
| Amount | Minimum: Rs.100 p.a. Maximum: There is no limit on the maximum amount |
| Rate of Interest | Minimum: 4.50% Maximum: 8.55% |
| Period | Minimum: 15 days Maximum: 120 months or 10 years |
| Loan against Gramin Bank Fixed Deposit | The scheme offers loan facility up to a certain limit depending on the bank offering the fixed deposit |
| Periodicity of interest payment | As stated in the fixed deposit clause |
| Nomination (if any) | Nomination is available under this scheme |
| TDS on interest | TDS is applicable on this scheme |
The Rate of interest for some Gramin Banks are mentioned below
Listed below are the interest rates applicable on Kerala Gramin Bank Fixed Deposit Account
| Period | Rate of interest offered for that period |
| 7 days to 14 days* | 5.25* |
| 15 days to 30 days | 5.25 |
| 31 days to 45 days | 5.5 |
| 46 days to 60 days | 6.5 |
| 61 days to 90 days | 6.5 |
| 91 days to 120 days | 6.75 |
| 121 days to 179 days | 6 |
| 180 days to 269 days | 6.75 |
| 270 days to less than 1 year | 6.75 |
| 1 year upto 10 years | 7.1 |
Listed below are the interest rates applicable on Paschim Banga Gramin Bank Fixed Deposit Account
| Period | Rate of interest offered for that period |
| 7 days to 14 days | 4.5 |
| 15 days to 29 days | 5 |
| 30 days to 45 days | 5.25 |
| 46 days to 60 days | 5.75 |
| 61 days to 90 days | 6 |
| 91 days to 120 days | 6.5 |
| 121 days to 150 days | 6.5 |
| 151 days to 180 days | 6.5 |
| 181 days to 364 days | 6.75 |
| 1 year | 7 |
| Above 1 year & upto 2 year | 7 |
| Above 2 years and upto 3 years | 7 |
| Above 3 years & less than 5 years | 7 |
| 5 years and above | 7 |
Listed below are the interest rates applicable on Himachal Gramin Bank Fixed Deposit Account
| Period | Rate of interest offered for that period |
| 07 to 14 days | 4.25 |
| 15 to 29 days | 4.25 |
| 30 to 45 days | 4.75 |
| 46 to 90 days | 6.25 |
| 91 to 179 days | 6.5 |
| 180 to 270 days | 7 |
| 271 days to<1 year | 7 |
| 1 yr | 7.25 |
| >1-2 year | 7.15 |
| >2-5 year | 7.15 |
| >5-10 year | 7 |
The mentioned rates are applicable only as of 22 Aug 2017. The interest rates are subject to change from time to time without any prior notification and the customers are advised to contact the bank for updated rates.
Kerala Gramin Bank, Paschim Gramin Bank are some of the many banks that offer gramin bank fixed deposit accounts.
The features and rates for the fixed deposit account can vary slightly from each bank.
The minimum deposit amount is Rs.100 (Some gramin banks charge Rs.500)
Yes, companies are eligible to apply for this term deposit account.
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