Business   

SIB hikes interest rates

Staff Reporter

Interest rates for NRE rupee accounts also raised

KOCHI: South Indian Bank (SIB) has hiked domestic fixed deposit interest rates with effect from January 3.

With this change effected by the bank, fixed deposits for a period of 150 days are eligible for 7.5 per cent interest against the present rate of 6 per cent and 300 days' deposits are eligible for 8 per cent interest against the present rate of 6.5 per cent (for five years). Senior citizens are entitled to get 9 per cent for five years, said the bank.

The revised rates applicable for single deposit of less than Rs.15 lakh are as follows: the interest is 4.75 per cent for 15 days up to and including 45 days; 5 per cent for 46 days up to and including 90 days; 6 per cent for 91 days up to and including 149 days; 7.5 per cent for 150 days; 6 per cent for 151 days to 179 days; 6.5 per cent for 180 days to 299 days; 8 per cent for 300 days; 6.5 per cent for 301 days to less than one year; 7.5 per cent for one year to less than five years; 8 per cent for five years to 10 years.

The bank has also raised interest rates for NRE rupee accounts with effect from January 1.

The new rate for deposits for a period of one year to less than two years will be 6.33 per cent. The rate for deposits for a period of two years to less than three years is 6.16 per cent and that for three years to 10 years will be 6.08 per cent. The bank has also hiked interest rates for FCNR(B) deposits.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Service tax on in-bound roaming fee from Jan. 15
Industry urged to take up social responsibility
Vodafone to adhere to M&A criteria
New hydel policy soon: Shinde
SBI raises interest rates on term deposits
Hike import tariffs for rubber: Mustafa
Tarmac car race on January 14
Jesudas is brand ambassador for SRK group
UTI Mutual Fund launches new scheme
SIB hikes interest rates
Bank lending in Wayanad registers increase

Copyright © 2007, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu