Odisha Gramya Bank FD Interest Rates

Odisha Gramya Bank Fixed Deposit Interest Rates 2025

The Odisha Gramya Bank fixed deposit interest rates with effect from 12.02.2021 based on the above mentioned subjectable parameters are as follows:

Rates applicable to term deposits up to Rs. 50 lakhs (in % p.a)

Features:

Some of the features of Odisha Gramya Bank fixed deposit are:

• The fixed deposits can be opened with a minimum amount of Rs.1000 (in multiples of Rs.100) with no ceiling amount whatsoever.
• Individuals can open fixed deposit accounts, joint accounts, minor accounts, undivided family accounts like (HUF), trusts, business firms and joint-stock companies.
• The investment tenure in the bank varies from 7 days to 10 years. 
• The deposit can be opened for a time range of 1 year to 10 years. (Maintained in a multiple of 3 months).
• There are three types of Fixed Deposit schemes provided by the bank. They are;
  • Flexi Fixed Deposit – When a bank savings account is linked to the fixed deposit account. 
  • Senior Fixed Deposit – This is applicable for citizens from 60 years and above. Senior citizens scheme has various subdivisions as Retired staff, Senior tax saver scheme, Spouse joint account and Super senior citizens scheme.
  • Tax Saving Fixed deposit – One can save tax in these amounts with a minimum amount of Rs 10,000.
• One can avail of a loan against a fixed deposit up to 90 % of the amount present in the fixed deposit.

• The Odisha Gramya Bank provides premature withdrawal with a penalty fee of 0.5 % to 1 %, exempted for certain cases like the Senior Citizen’s Scheme at any point in time.
• The bank provides a minimum balance facility of Rs.100 (or multiples of Rs.100) with no ceiling on the maximum amount.
• The Odisha Gramya Bank also provides FCNR Fixed deposit and NRE & NRO fixed deposit option and nomination facility. 

About Odisha Gramya Bank Fixed Deposit Interest Rate Calculator

Odisha Gramya Bank Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate Fixed Deposit rates on the FD Calculator:

• The amount that is invested

• The Rate of Interest offered

• The tenure of the Fixed Deposit Account

• The compounding period, that is, yearly, half-yearly, quarterly, or monthly

• The FD Amount

Once entered the following details, an investor will come to know:

• The maturity value of the FD

• The total interest earned during the complete tenure

Odisha Gramya Bank Fixed Deposit Interest Rates Features

Here are some additional features of Odisha Gramya bank’s fixed deposit scheme:

• The Odisha Gramya Bank fixed deposit interest rates depend on the tenure time, withdrawal amount, tax application, and time to time protocols laid down by the Government. 
• The Tax Deduction service is applicable as per the Income Tax guidelines from time to time.
• The maturity of the term deposits is short-term, ranging from a few months to a few years.

Summing it Up:

Fixed deposits are great aids during financial stress. However, one needs to conduct a self-research about the possible risks for better preparation before investing. These risks include default repayment risk, the penalty fee, prohibitions and complications on the withdrawal of tax fixed deposits before maturity despite the benefits, alteration in FD interest rates, and market policies and inflation risks.