Himachal Pradesh Gramin Bank FD Rates

A fixed deposit is one of the most popular investment options to help you earn assured returns at high interest rates. Himachal Pradesh Gramin Bank (HPGB) offers various fixed deposit schemes to its customers. You can choose any of the tenures provided by the bank according to your preference.

Himachal Pradesh Gramin Bank FD Schemes

The following fixed deposit schemes are offered by Himachal Pradesh Gramin Bank:

  • Anupam Account Deposit Scheme
  • Ordinary Fixed Deposit Scheme
  • Special Fixed Deposit Scheme
  • Multi-Benefit Deposit Scheme

Anupam Account Deposit Scheme

Given below are the features of the Anupam Account Deposit Scheme:

  • Individual, sole proprietorship, association, and a partnership firm can open this deposit scheme.
  • Tenure ranges from six months to 120 months.
  • The minimum deposit amount is Rs.10,000.
  • Overdraft facility is provided at an interest rate of 2.00% more than the deposit interest rate. For staff and retired ex-staff members, the overdraft will be permitted at the same interest rate as that of the deposit for overdrafts up to Rs.3 lakh.
  • Third-Party Advance is not permitted.
  • A premature withdrawal facility is available.
  • The deposit can be renewed on maturity.
  • Interest is paid on a quarterly basis and is credited in March every year.

Ordinary Fixed Deposit Scheme

Individuals who wish to get high interests on short-term deposits or avail of interest every six months on medium and long-term deposits should opt for an Ordinary Fixed Deposit Scheme.

Eligibility:

The following entities are eligible to open an Ordinary Fixed Deposit Scheme:

  • Individuals or joint investors
  • Firm
  • Panchayat
  • Municipality
  • Club
  • Society
  • Commercial organisation
  • Institution
  • Minors aged 10 years and above in their own names and otherwise under guardianship

The features of the Ordinary Fixed Deposit Scheme are mentioned below:

  • Tenure ranges from seven days to 10 years.
  • Yes. Himachal Pradesh Gramin Bank offers an additional interest rate of 1.5% to its staff members for deposits up to Rs.2 crore. However, this additional interest rate will not be applicable to HPGB Tax Saver Fixed Deposit Scheme.
  • For short-term deposits, the interest is paid on maturity. For deposits with tenures of more than six months, the interest is paid on a half-yearly basis.
  • Loans against fixed deposits can be availed.
  • Automatic renewal of a fixed deposit is available.

Special Fixed Deposit Scheme

A Special Fixed Deposit Scheme provides regular returns to help you cover your recurring expenses.

Eligibility:

The following entities are eligible to open a Special Fixed Deposit Scheme:

  • Individuals or joint investors
  • Panchayat
  • Firm
  • Society
  • Institution
  • Commercial organisation
  • Club
  • Municipality
  • Minors aged 10 years and above in their own names and otherwise under guardianship

The features of the Special Fixed Deposit Scheme are mentioned below:

  • Tenure ranges from one year to 10 years.
  • Yes. Himachal Pradesh Gramin Bank offers an additional interest rate of 1.5% to its staff members for deposits up to Rs.2 crore. However, this additional interest rate will not be applicable to HPGB Tax Saver Fixed Deposit Scheme.
  • The interest is paid on a quarterly basis.
  • Loans against fixed deposits can be availed.
  • The facility to automatically renew your fixed deposit is available.
  • A Special Fixed Deposit Scheme can be converted to a Multi-Benefit Fixed Deposit for a duration more than the remaining time of the original contract without any penalty.

Multi-Benefit Deposit Scheme

A Multi-Benefit Deposit is best suited for those who wish to invest their money for a long duration to cover large expenses like house construction, marriage, higher education, etc.

Eligibility:

A Multi-Benefit Deposit Scheme can be opened by the following entities:

  • Individuals or joint investors
  • Proprietorship
  • Partnership firm
  • Corporate body
  • Association
  • Public/Commercial organisation
  • Government and Quasi-Government body
  • Panchayat
  • Municipality
  • Minors aged 10 years and above in their own names and otherwise under guardianship
  • Trust
  • Society
  • Educational institution

The features of the Multi-Benefit Fixed Deposit Scheme are as follows:

  • Tenure ranges from six months to 120 months.
  • Yes. Himachal Pradesh Gramin Bank offers an additional interest rate of 1.5% to its staff members for deposits up to Rs.2 crore. However, this additional interest rate will not be applicable to HPGB Tax Saver Fixed Deposit Scheme.
  • Loans against fixed deposits can be availed.
  • An automatic Renewal facility is available.
  • The maturity amount is computed on a quarterly compounding basis using the master chart that has previously been disseminated for Rs.100. The amount receivable at maturity must be rounded off to the next rupee.

Himachal Pradesh Gramin Bank FD Interest Rates

The interest rates offered on fixed deposit schemes range from 3.00% p.a. to 5.25% p.a. for deposits up to Rs.10 crore. To know the interest rates for deposits more than Rs.10 crore, you can contact the bank. An additional interest rate of 0.5% will be offered to senior citizens for deposits up to Rs.2 crore. Similarly, an additional interest rate of 1.5% will be offered to retired staff members for deposits up to Rs.2 crore except for HPGB Tax Saver FD.

The interest rates for fixed deposit schemes for deposits up to Rs.10 crore are mentioned below.

Tenure Interest Rates p.a.
7 days – 14 days 3.00%
15 days – 29 days 3.00%
30 days – 45 days 3.00%
46 days – 90 days 3.25%
91 days – 179 days 4.05%
180 days – 270 days 4.45%
271 days – less than 1 year 4.55%
1 year 5.25%
Above 1 year – 2 years 5.25%
Above 2 years – 3 years 5.25%
Above 3 years – 5 years 5.30%
Above 5 years – 10 years 5.30%

The interest rate for HPGB Tax Saver Fixed Deposit Scheme is as follows:

Tenure General Public Interest Rate p.a. Senior Citizen Interest Rate p.a. Staff Member Interest Rate p.a. Retired Staff Interest Rate p.a.
5 years and above 5.30% 5.80% 6.30% 6.30%

FAQs on Himachal Pradesh Gramin Bank FD Rates

  1. What are the fixed deposit schemes offered by Himachal Pradesh Gramin Bank?

    Himachal Pradesh Gramin Bank offers four fixed deposit schemes - Anupam Account Deposit Scheme, Ordinary Fixed Deposit Scheme, Special Fixed Deposit Scheme, and Multi-Benefit Deposit Scheme.

  2. What are the interest rates for fixed deposit schemes of Himachal Pradesh Gramin Bank?

    The interest rates for fixed deposit schemes range from 3.00% p.a. to 5.30% p.a.

  3. Is there any additional interest rate on fixed deposit schemes for senior citizens?

    Yes. Senior citizens are offered an additional interest rate of 0.5% for deposits up to Rs.2 crore.

  4. Is there any additional interest rate for fixed deposit schemes for retired staff members?

    Yes. Himachal Pradesh Gramin Bank offers an additional interest rate of 1.5% to its staff members for deposits up to Rs.2 crore. However, this additional interest rate will not be applicable to HPGB Tax Saver Fixed Deposit Scheme.

  5. Can a minor open a fixed deposit account in Himachal Pradesh Gramin Bank?

    Yes. Minors aged 10 years and above can open a fixed deposit account with their own names. Minors who are below 10 years of age can also open a fixed deposit account through their guardian.

  6. Can I get a loan against my fixed deposit?

    Yes, you can take a loan against your fixed deposit.

  7. Does Himachal Pradesh Gramin Bank offer an Automatic Renewal facility?

    Yes, Himachal Pradesh Gramin Bank offers an Automatic Renewal facility.

  8. What is the minimum deposit amount for an Ordinary Fixed Deposit Scheme?

    The minimum deposit amount for an Ordinary Fixed Deposit Scheme is Rs.1,000.

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