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Our Correspondent

Madurai, Dec. 2 Tamilnad Mercantile Bank has hiked the interest rates on its domestic term deposits for the maturity period of three years by 50 basis points, effective from December 1. The interest rate has been increased from 11 per cent to 11.50 per cent for the public and from 11.50 per cent to 11.75 per cent for senior citizens. The investment of Rs 10,000 for a period of three years will get a maturity amount of Rs 14,154 for senior citizens and Rs 14,051 for the general public, said Mr S. Selvan Rajadurai, Manager, Business Development, TMB, in a press release.

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

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