To: All Branch Managers
Etawah District Cooperative Bank Ltd.
District – Etawah and Auraiya
Subject: Revision of Interest Rates on Term Deposits and Savings Accounts
Please refer to this office's letter number C-6004 / Accounts / 2022-23, dated 16.01.2023, through which
interest rates on term deposits were implemented from 17.01.2022.
Due to changes in prevailing interest rates in Uttar Pradesh Cooperative Bank and other commercial banks,
and as per the approval granted by the Hon’ble Chairman, the interest rates on term deposits are being
revised effective from 24.07.2023.
The revised interest rates will be applicable on renewed and new term deposits from 24.07.2023, as detailed below:
S. No. | Type of Account | Current Interest Rate(%) | Revised Rate Effectivefrom 24.07.2023 (%) |
|---|---|---|---|
| A | Term Deposit Account | ||
| 1 | 7 to 14 days | 4.00 | 3.50 |
| 2 | 15 to 45 days | 4.10 | 4.00 |
| 3 | 46 to 90 days | 4.50 | 4.50 |
| 4 | 91 to 180 days | 4.90 | 5.00 |
| 5 | 181 to 364 days | 6.00 | 6.10 |
| 6 | Up to 1 year | 7.00 | 7.10 |
| 7 | More than 1 year to 2 years | 7.00 | 7.00 |
| 8 | More than 2 years to 3 years | 7.05 | 7.00 |
| 9 | More than 3 years | 6.50 | 6.90 |
| 10 | Special Deposit for 555 days | 7.10 | - (No early withdrawal permitted) |
11 | Savings Account Interest | 2.80 | 2.80 |
Note: Senior citizens will be offered an additional 0.50% interest above the proposed rate on term deposits of 1 year and above.
You are further instructed to ensure accurate calculation of interest at your level. All other terms and conditions of the earlier instructions shall remain unchanged.
Secretary / Chief Executive Officer
Etawah District Cooperative Bank Ltd.
Etawah
Copy to: For information and necessary action
-
All Section Officers, Etawah District Cooperative Bank Ltd., Etawah
-
Section Officer (IT), Etawah District Cooperative Bank Ltd., Etawah – to ensure necessary updates in the system as per this directive
-
All Deputy General Managers, Etawah District Cooperative Bank Ltd., Etawah
-
Hon’ble Chairman, Etawah District Cooperative Bank Ltd., Etawah – for kind perusal
Secretary / Chief Executive Officer
Etawah District Cooperative Bank Ltd.
Etawah
