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Our Correspondent

Madurai , Dec. 10

TAMILNAD Mercantile Bank has hiked interest rates on domestic term deposits, effective December 1.

The bank offers an interest rate of 4.50 per cent for deposits of Rs 1 lakh and above.

For deposits of Rs 25 lakh or above, an additional interest rate of 25 basis points is offered to a period of 179 days.

An additional one per cent is offered to senior citizens whose deposits get matured within five years, a bank release said.

More Stories on : Private Banks | Interest Rates | Fixed Deposits

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