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.
Rate of interest offered by Gramin Bank of Aryavart on Domestic and NRO 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.) |
|---|---|
| 07 Days to 14 days * | 5.00 |
| 15 days to 30 days | 5.00 |
| 31 days to 45 days | 5.00 |
| 46 days to 90 days | 6.00 |
| 91 days to 179 days | 6.00 |
| 180 days to 269 days | 6.50 |
| 270 days to less than 1 year | 6.50 |
| 1 year exact | 7.00 |
| 1 year to less than 2 years | 6.75 |
| 2 years to less than 3 years | 6.75 |
| 3 years to less than 5 years | 6.60 |
| 5 years | 6.60 |
| Above 5 years and up to 10 years | 6.60 |
Note: The rate of interest mentioned above are w.e.f. 1st April 2019.
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 | 6.00 |
| 2 years to less than 3 years | 6.00 |
| 3 years to less than 5 years | 6.00 |
| 5 years & up to 10 years | 6.00 |
Note: The rate of interest mentioned above are w.e.f. 1st April 2019.
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| Deposits less than Rs. 5 Lacs withdrawn on or after completion of 12 months | NIL |
| Deposits less than Rs. 5 Lacs withdrawn prematurely before completion of 12 months | 0.50% |
| Deposits of 5 Lacs & above withdrawn prematurely | 1.00% |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
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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.
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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 6.75%.
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Does the bank allow the premature withdrawal of the term deposit?
Yes, the bank allows premature withdrawal of the term deposit.
