Financial Daily from THE HINDU group of publications
Tuesday, Nov 16, 2004
Financial Daily from THE HINDU group of publications Tuesday, Nov 16, 2004 |
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Money & Banking
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Interest Rates Karnataka Bank raises rates for long-term deposits Our Bureau
Mangalore , Nov. 15 KARNATAKA Bank Ltd has increased interest rates on domestic term deposits of maturities of two years and above to 6.25 per cent. Previously, interest rates were 6 per cent for maturities of two years to less than three years, and 5.75 per cent for three years to less than five years. A bank release said the rate hike is applicable from November 15, to fresh deposits and renewals of maturing deposits. However, interest rates for domestic term deposits with maturities ranging from seven days to less than two years remain unchanged. Senior citizens will get 1 per cent more on their fixed deposit and Abhyudaya Cash Certificate deposit of one year and above maturity periods, the release added.
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