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TMB hikes deposit rates

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Our Correspondent

Madurai, Jan. 17

TAMILNAD Mercantile Bank (TMB) has hiked interest rates on domestic term deposits with effect from Monday.

For deposits of Rs 25 lakh and above, an additional 25 basis points will be offered on deposits up to 179 days.

Eligible deposits of senior citizens for less than 2 years maturity, one per cent more will be offered; 0.50 per cent for 2-3 years maturity and 0.75 per cent for 3-5 years maturity.

(This article was published in the Business Line print edition dated January 18, 2005)
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