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New Delhi, May 14 Dhanalakshmi Bank has announced reduction in interest rates on certain domestic term deposits with effect from May 18.

For retail depositors putting deposits below Rs 15 lakh, the deposit rate cut has been in the range of 25-50 basis points, said Mr Bipin Kabra, Chief Financial Officer.In the case of deposits between Rs 15 lakhs and Rs 1 crore, the rate cut has been to the extent of 1 per cent, he said. For deposits above Rs 1 crore, the rate would be decided on day-to-day basis depending on market conditions, Mr Kabra said.

More Stories on : Fixed Deposits | Private Banks

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