Money & Banking

TMB hikes interest rate for 555 days term deposit

| | Updated on: Feb 13, 2011

Tuticorin-based Tamilnad Mercantile Bank (TMB) has increased its domestic term deposit rates by 25 basis points for its special deposit scheme ‘TMB 555 Days', from 10 per cent to 10.25 per cent with effect from Monday February 14.

The rate of interest for 1 Year deposit is 9.25 per cent for general public and 9.75 per cent for senior citizens and for 10 Years deposit, the rate of of interest is 9 per cent for both, according to a release from the bank.

Published on February 13, 2011

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