Gramin Bank of Aryavart FD Rates
Fixed deposit is a safe investment option that many individuals look up to. Investing in an FD account ensures a guaranteed payout and comes with low risk, thus making it a popular choice for investment.
FDs offered by certain banks come with higher interest rates when compared to regular savings accounts.
Aryavart Bank allows customers to open a fresh term deposit at attractive rate of interest with tenure ranging between 7 days and 10 years.
Features and Benefits
The main features and benefits of the FD scheme offered by Gramin Bank of Aryavart are mentioned below:
- The tenure for the scheme ranges between 7 days and 10 years.
- For a tenure between six months and 5 years, senior citizens are offered an additional interest rate of 0.50%.
- For a tenure above 5 years, senior citizens are offered an additional interest rate of 0.60%.
- The minimum deposit is Rs.5,000.
Rate of interest offered by Gramin Bank of Aryavart on Domestic and NRO Term Deposits
The interest rates for Aryavart bank fixed deposit up to Rs.2 crore are mentioned in the table below:
Maturity Period | Interest Rate (% p.a.) |
07 Days to 14 days * | 3.00% |
15 days to 30 days | 3.00% |
31 days to 45 days | 3.00% |
46 days to 90 days | 3.85% |
91 days to 179 days | 3.85% |
180 days to 269 days | 4.35% |
270 days to less than 1 year | 5.50% |
1 year | 6.75% |
1 year to less than 2 years | 6.50% |
400 days | 7.25% |
15 months | 7.25% |
2 years to less than 3 years | 6.75% |
3 years to less than 5 years | 6.50% |
5 years to 10 years | 6.00% |
Note: The rate of interest mentioned above is w.e.f. 12 February 2024.
Rate of Interest Offered Gramin Bank of Aryavart on NRE Term Deposits
The interest rates for Aryavart bank fixed deposit are as follows with the minimum deposit amount as Rs. 1 lakh:
Maturity Period | Interest Rate (% p.a.) |
1 year to less than 2 years | 4.75 |
2 years to less than 3 years | 4.75 |
3 years to less than 5 years | 4.65 |
5 years & up to 10 years | 4.65 |
Note: The rate of interest mentioned above is w.e.f. 12 February 2024.
Premature Withdrawal:
The Aryavart bank allows premature withdrawal of the term deposit. However, it will be penalised. The applicable penalty on premature withdrawal of the term deposit is as follows:
Category of deposits | Penalty charged |
Deposits less than Rs. 5 Lacs withdrawn on or after completion of 12 months | NIL |
Deposits less than Rs. 5 Lacs withdrawn prematurely before completion of 12 months | 0.50% |
Deposits of 5 Lacs & above withdrawn prematurely | 1.00% |
- No interest will be paid in case of premature withdrawal of term deposit before seven days.
- No penalty will be charged for premature withdrawal in case of death of the depositor.
- No penalty will be charged in case of premature withdrawal of term deposit by the staff, ex- staff, staff/ex-staff senior citizens and spouse of deceased staff as a first account holder.
- No penalty will be charged on premature withdrawal for the deposits which have been prematurely closed for renewal for a period longer than the remaining period of the original contract tenure, irrespective of the deposit amount.
FAQs on Gramin Bank of Aryavart FD Rates
- What is the minimum deposit amount to open a fixed deposit account at Aryvart bank?
The minimum deposit amount to open a fixed deposit account at Aryvart bank is Rs.1 lakh.
- What is the maximum rate of interest offered by Aryavart bank?
The maximum rate of interest offered by Aryavart bank on domestic term deposit is 7.25%.
- Does the bank allow the premature withdrawal of the term deposit?
Yes, the bank allows premature withdrawal of the term deposit.
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