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Repco Bank, a Government of India enterprise under the Ministry of Home Affairs, has hiked interest rate on deposits with effect from February 7.
Mr J. Gireesh Kumar, Chief Manager of the Thiruvananthapuram branch of Repco Bank, said here that as per the new rates, the bank offers interest rate at 10.50 per cent (existing 9.50 per cent) for the general pubic and at 11 per cent (10 per cent) for senior citizens for tenure of 15 months.
The rate will be 10.10 per cent (7 per cent each) for deposits with tenure of 181 days to 364 days, Mr Kumar added.
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