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Our Correspondent

Madurai , Nov. 9

Tamilnad Mercantile Bank (TMB) has hiked the interest rate up to 10 basis points on its Non-Resident External (NRE) term deposits.

The rates have been hiked by 4 bps to 6.34 per cent for the maturity period of 1 year to below 2 years deposits, by 8 bps to 6.17 per cent for 2 years to below 3 years and by 10 bps to 6.11 per cent for 3 years deposits.

It has also hiked the interest rates on its Foreign Currency Non-Resident (Bank) term deposits across all slabs with effect from November, 1 in dollars, pounds, euro, Canadian & Australian dollars.

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

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