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These Rate of Interest are valid for deposits which are Issued or Renewed
from this date 01-12-2014

Requirements of PAN CARD for TDS
Who is liable for deduction of Tax Deduction Source (TDS) on interest on deposit to furnish a copy of PAN card. If the PAN card is invalid or does not belong to the deductees, TDS is deducted @ 20% as per Income Tax Act 1961, ( w.e.f. 01/04/2010)

Sr. No. Particulars Rate of Interest
Revised

Effective From 01-12-2014.

Public Senior Citizen
Age >60 upto 75
Super Senior Citizen
Age 75 and Above
1   Fixed Deposit
   > From 15 days to 45 days 5.75% 5.75% 5.75%
   > From 46 days to 90 days 6.75% 6.75% 6.75%
   > From 91 days to 180 days 7.25% 7.25% 7.25%
   > From 181 days to 364 Days 7.75% 7.75% 7.75%
   > Above 1 year up to 3 years 8.75% 9.25% 9.75%
   > Above 3 year up to 5 years 8.50% 9.00% 9.50%
   > Bank Term Deposit Scheme for 5 Years
  (Exempt u/s 80(C) of IT)
8.75%

9.25%

9.50%

2  Single Term Deposit of Rs. 1/- Crore and above :
   > From 15 days to 45 days 6.75% 6.75% 6.75%
   > From 46 days to 180 days 7.25% 7.25% 7.25%
   > From 181 days to less than 1 year 8.25% 8.25% 8.25%
   > From 1 Year to 3 Year 8.75% 9.25% 9.75%
   > Over 3 Years to 5 Years 8.25% 9.00% 9.50%
3  Savings Deposit
   > Savings Deposit 4.00% 4.00%
4  Recurring Deposit
   > 1 year up to 3 years 8.75% 9.25% 9.50%
   >Over 3 year up to 5 years 8.50% 9.00% 9.25%

Note :
 (1) All rates are subject to revision from time to time.

 (2) No. term deposit including recurring deposit will be accepted exceeding period of 5 year.

 (3)Premature Withdrawal Penalty : (1)Savings Bank intrest rate to be given under 45 day than after 1% Less than the appropriate rate and
     Premature withdrawals 1% less than the appropriate rate for Bank term Deposit.

 (4) Maximum : - In Case of Public - 8.75%

      Maximum : - In Case of Senior Citizen - 9.25%

      Maximum : - In Case of Super Senior Citizen - 9.75%

The Ahmedabad Mer. CO-op Bank Ltd.(Muti-State Schedule Bank)
Deposit Interest Calculator
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