Financial Daily from THE HINDU group of publications
Tuesday, Nov 23, 2004
Financial Daily from THE HINDU group of publications Tuesday, Nov 23, 2004 |
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Money & Banking
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Interest Rates More banks hike deposit rates Our Bureaus
Nov. 22 MUMBAI: Union Bank of India has decided to raise interest rates on its home loans with immediate effect. Rates on fixed rate loans have been raised by 50 basis points, while floating rates have been hiked by 25 basis points, said Mr Ratnakar Hegde, Executive Director, Union Bank of India. The bank will also hike interest rates on domestic term deposits by around 25 basis points, effective December1, he said. The prime-lending rate has been left unchanged at 10.75 per cent. Bank of Bahrain HYDERABAD: Bank of Bahrain and Kuwait BSC, a scheduled commercial bank, has announced upward revision in interest rates on deposits of less than Rs 1 crore with effect from Monday. In a press release, the bank said the rate for deposits of 15 days to 30 days was increased to 4.25 per cent from 3.75 per cent, 31 days to 45 days at 4.5 per cent (4 per cent), 46 days to 90 days at 4.5 per cent (4.25 per cent), 91 days to 180 days at 4.75 per cent (4.5 per cent), 181 days and up to one year at 5 per cent (4.75 per cent) and rate on deposits of above one year and up to five years at 5.25 per cent (4.75 per cent).
South Indian Bank COIMBATORE: South Indian Bank Ltd has hiked the interest rate on domestic deposits for periods extending beyond 180 days by 50 basis points from November 22. The bank has revised the rate from 5.25 per cent to 5.75 per cent for deposits with tenure of 180 days to less than one year and from 5.50 per cent to 6.00 per cent for deposits between one and three years. The hike is 25 basis points at 6.25 per cent for deposits beyond 3 years.
More Stories on : Interest Rates | Fixed Deposits
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