Money & Banking

North Malabar Gramin Bank hikes deposit rates

Our Bureau Kozhikode | Updated on February 14, 2011

North Malabar Gramin Bank (NMGB) has effected an upward revision of interest rates on domestic term deposits with effect from February 11.

The new rate for 31 days to 45 days is five per cent; 91 days to 179 days is 7.50 per cent; 180 days to less than one year 8 per cent; one year to less than three years is 9.50 per cent; and three years to less than five years is 9.25 per cent.

Senior citizens are eligible for one per cent above the normal rates with a cap of 10.25 per cent, according to a release from the bank.

Published on February 14, 2011

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