The Hindu Business Line : Syndicate Bank hikes deposit rates

Syndicate Bank has increased the interest rates of term deposits of tenor of one year and above with effect from February 5 and March 31. Interest rates for deposits have been increased from 50 basis points to 150 basis points for tenors ranging from one year and above and five years and above for amounts less than Rs 15 lakh and above Rs 15 lakh. The highest revision of 150 basis points from the current 7.5 per cent has been made for a deposit of less than Rs 15 lakh for a term of five years and above, while the rate for deposits of above Rs 15 lakh has been revised from 7.75 per cent to 9 per cent. A revision of 50 and 75 basis points has been made, respectively, for the least tenor of one year and above for Rs 15 lakh and above this limit.

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