The Hindu Business Line : IDBI revises deposit rates

Industrial Development Bank of India Ltd (IDBI) has reduced interest rates on deposits of some maturity, while it has increased on some others, effective November 12.

While the interest rate on 360-day deposits has been reduced by 75 basis points to 8.75 per cent (9.50 per cent), rates on 500-day and 800-day deposits have gone down by 50 basis points at 9 per cent (9.5 per cent). The bank has also cut rates on five years and tax-saving deposits scheme by 50 basis points to 9 per cent.

The interest rates on deposits of short-term duration have, however, been increased by 25-50 basis points.

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