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Karnataka
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Bangalore
SIB’s new deposit scheme
BANGALORE: South Indian Bank (SIB) has launched SIB Eighty Plus, a fixed deposit scheme, offering 11 per cent interest for 39 months on a minimum deposit of Rs. 50,000. The depositor will get a free death insurance cover up to Rs. 1 lakh. Senior citizens will get 11.25 per cent interest. As per the scheme, the depositor on maturity of the deposit of Rs. 50,000 will get Rs. 71,143 providing a yield of 13.01 per cent. Senior citizens will get Rs. 71,707 providing an yield of 13.36 per cent. “The deposit for domestic and non-resident ordinary accounts will be accepted from individuals and institutions till March 31, 2009,” said a press release from the bank.
— Staff Reporter
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