The Hindu Business Line : TMB hikes deposit rates

Tamilnad Mercantile Bank has hiked the interest rates on domestic term deposits upwards, effective from September 22. It has also introduced a new deposit scheme for 777 days.

The interest rates on deposits of the period ‘15 days to 45 days’ has been increased from 4.50 per cent to 5.50 per cent , ’46 days to 90 days’ from 5.75 per cent to 7 per cent , ‘91 days to 180 days’ from 7 per cen t to 8 per cent and ‘181 days to less than one year’ from 8.75 per cent to 9 per cent .

The highest rate of interest is offered for deposits with maturity of 777 days, under which a senior citizen is offered 11.30 per cent and the general public 11per cent per annum, according to communication from the bank. –

Our Correspondent

More Stories on : Fixed Deposits | Private Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Regulate… in right measure

Rupee weakens

Indian insurers’ credit ratings seen stable

‘Interest rates may not come down soon’

Bond prices crash

IFC extends $100-million loan to Idea Cellular

Call rates end lower

Citi India card for corporate clients

TMB hikes deposit rates

Corporation Bank office in Dubai

Banking operations severely hit

ICICI Bank customers have problems with ECS mandate

StanChart appointment

AEBC beefs up India team