EXPORT-IMPORT BANK OF INDIA : TERM DEPOSIT SCHEME

Interest Rate effective from March 16, 2009

 

Amount (in Rs.)	Perdiod (months)	Rate of Interest
Upto and inclusive of Rs. 1 Crore	12-60	9.25 % p. a.
Above Rs. 1 Crore	12-60	8.00% p. a.

^* The rate is applicable to Resident Individuals, NRIs, HUFs and Superannuation Funds only. Corporates / Institutional Investors should obtain prevailing rate from Exim Bank on a day to day basis. The benefit of increase in interest rate is now available to the existing term deposits for the residual period till maturity at the interest rate currently applicable to the residual tenor.
NOTE :

1. Interest compounded on quarterly basis.
2. Minimum Deposit of Rs.10,000/- and in multiples of Rs.1,000/- thereafter.
3. Interest is subject to deduction of tax at source, wherever applicable.
4. The above rates are applicable to Resident Individuals, NRIs, HUFs and Superannuation Fund, Army Group Insurance and Army Defence Regiment Funds, IIMs, IITs.
5. Senior citizens will be eligible for additional interest at 0.25% p.a. on deposits placed for 12-35 months and 0.50% p.a. on deposits placed for 36 months and above.
6. Cheques/Demand Drafts to be drawn favouring ‘Exim Bank Term Deposit Account’.

FAQ

Flexibility

1. The benefit of future increases in interest rates will be available to the existing term deposits for the residual period till maturity at the interest rate applicable to the residual maturity period, without any action on the part of the depositor.
2. In case the existing rate on a deposit (contracted based on original maturity at the time of placing deposit) is higher than the revised rate applicable to the residual tenor, then the original higher rate would continue to apply.
3. The above flexibility is available only on deposits placed by individuals/NRIs/trusts/HUFs and superannuation funds.
4. Interest rate on 3-year and 5-year floating rate term deposits could be benchmarked to 3-year and 5-year G-sec rates respectively.
5. For further details or clarification please contact us at: (Phone No. 0-9818269396) or Email @ investorspleaselisten@in.com