Financial Daily from THE HINDU group of publications
Saturday, Nov 20, 2004
Financial Daily from THE HINDU group of publications Saturday, Nov 20, 2004 |
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Money & Banking
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Fixed Deposits IndusInd Bank hikes deposit rates again Our Bureau
Mumbai , Nov. 19 FOR the second time this month IndusInd Bank announced a 10-25 basis points hike in deposit rates across various maturities. This upward revision has been done for deposits amounting to Rs 15 lakh and deposits of above Rs 15 lakhs to below Rs 1 crore, said a press release. In the band of above Rs 15 lakh to Rs 1 crore, revision has been done across both short term and long-term maturities except for deposits of maturity period between three and five years. . In the case of deposits of up to Rs 15 lakh, the revision is in select tenors of 15-30 days, 31-60 days, 61-90 days, one year to below 18 months, 18 months to below 3 years and 5 years and above. The bank has introduced a time bucket of 5 years and above, after earlier introducing a 7 to 14 days time bucket. Domestic deposits for `15 days and above' for senior citizens will be eligible for 50 basis points per annum additional rate of interest over the prevailing card rates, said the release.
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