Nainital Bank Revises Interest Rates On FDs of Less Than Rs 2 Cr

Nainital Bank, a private sector lender, has adjusted its interest rates on fixed deposits of less than Rs 2 crore. The bank made this adjustment on February 10, 2022, and as a result of the revision, the bank now offers an interest rate of 3.25 percent - 5.35 percent to the general public and 3.75 percent - 5.85 percent to senior citizens. The bank's most recent fixed-deposit interest rates are detailed here.

Nainital Bank Fixed Deposit Interest Rates For Regular Citizens

As of the 10th of February, 2022, the bank is currently giving a 3.25 percent interest rate to the general public on deposits maturing in 7 to 45 days. Regular customers will now get a 4.25 percent interest rate on deposits maturing in 46 to 179 days. The bank is currently giving a 4.95 percent interest rate to the general public on deposits maturing in 180 days or more but less than 270 days. Nainital Bank is currently giving 5.05 percent and 5.10 percent interest rates on deposits maturing in 270 days or more but less than one year, and one year or more but less than or equal to 18 months. The general public will now get a 5.35 percent interest rate on deposits maturing in 18 months but less than or equal to up to ten years. The bank is currently giving a 6.10 percent interest rate on the Naini Tax Saver Scheme, which is a tax-saving deposit of up to Rs 1.5 lakh maturing in 5 years.

Tenure	Regular interest rates p.a.
7 days to 14 days	3.25%
15 days to 30 days	3.25%
31 days to 45 days	3.25%
46 days to 90 days	4.25%
91 days to 179 days	4.25%
180 days and above but less than 270 days	4.95%
270 days and above but less than 1 year	5.05%
1 year and above but less than or equal to 18 months	5.10%
Above 18 months but less than or equal to 2 years	5.35%
Above 2 years but less than or equal to 3 years	5.35%
Above 3 years but less than or equal to 5 years	5.35%
Above 5 years but less than or equal to upto 10 years	5.35%
Naini Tax Saver Scheme	6.10%

Nainital Bank Fixed Deposit Interest Rates For Senior Citizens

Except for the Naini Tax Saver Scheme, the bank would continue to pay an additional 0.50 percent interest on domestic term deposits of less than Rs. 2.00 crore to Senior Citizens for all tenors.

Tenure	Senior citizen interest rates p.a.
7 days to 14 days	3.75%
15 days to 30 days	3.75%
31 days to 45 days	3.75%
46 days to 90 days	4.75%
91 days to 179 days	4.75%
180 days and above but less than 270 days	5.45%
270 days and above but less than 1 year	5.55%
1 year and above but less than or equal to 18 months	5.60%
Above 18 months but less than or equal to 2 years	5.85%
Above 2 years but less than or equal to 3 years	5.85%
Above 3 years but less than or equal to 5 years	5.85%
Above 5 years but less than or equal to upto 10 years	5.85%
Naini Tax Saver Scheme	6.10%
Source: Bank Website

Note

Except for the Naini Tax Saver Scheme, the bank continues to pay an additional interest rate of 1% on domestic term deposits of less than Rs. 2.00 crore to all staff members for all tenors. In the case of retired employees who are senior citizens residing in India, bank branches are authorised to pay an additional interest rate of 1.50 percent per annum on new term deposits and renewals of existing resident term deposits of less than Rs. 2 Crores with maturities ranging from 15 days to 10 years.