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Madurai, Aug 8

Tuticorin-based Tamilnad Mercantile Bank has hiked the interest rates on domestic term deposits, effective from August 8. The interest rates for deposits with a maturity period of one year have been hiked by 25 basis points, from 9.75 per cent to 10 per cent for the public and from 10 per cent to 10.25 per cent for senior citizens. The rates have been increased to suitably reward the depositors due to the impact of the prevailing inflation rate, the bank release said. R 12;

Our Correspondent

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