The Hindu Business Line : IDBI hikes deposit rates

IDBI has increased the interest rates on Suvidha fixed deposit, across all maturities, by 25-75 basis points, effective January 17. Deposits up to Rs. 15 lakh, with a maturity of 1-3 years under the scheme will carry an interest rate of 8 per cent against 7.25 per cent or 7.50 per cent earlier.

Term deposits above Rs 15 lakh and up to Rs 100 lakh will now fetch a higher interest rate of 25-50 basis points. The maximum rate of interest that IDBI would now offer in the case of such deposits is 8.75 per cent (8.50 per cent) on term deposits of between five years and up to ten 10 years' maturity, said an official press release by the bank.

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