NEWS & ADVICE : FIXED DEPOSITS
DCB offers 8.50% on 1-yr term deposits
By Neelima Shankar
Jun 10, 2009
Print    Email    RSS   

The Development Credit Bank has reduced the interest rates on the domestic deposits up to 0.5 percent.

The percent cut in the deposits varies with the tenure. For deposits with a maturity period up to one year, rates have been brought down by 0.5 per cent. The rates on deposits with a maturity 1-3 years have been reduced by 0.25 percent.

The interest rates on the other deposits have also been brought down.

The deposit rates have been reduced to 8.5 percent, from the earlier 8.75 percent on the term deposits with maturity of 1 year and with maturity between 1-3 years. These rates are applicable on single deposits of less than Rs.15 lacs and between Rs.15 lacs to Rs. 50 lacs.

Revised Interest Rates for Resident Indians & NRO Term Deposits
(rates on single deposits)

Deposit Tenure

Revised rates for Less than Rs.15 lacs

Revised rates Rs.15 lacs to Rs. 50 lacs

14 days

3

3

15-45 days

4.25

4.25

46-90 days

5.75

5.75

91 days-6 months

6.50

6.50

6 months to 1 year

7.50

7.50

1 year (365 days)

8.50

8.50

> 1 year to 3 years

8.50

8.50

> 3 years to 10 years

8.50

8.50

Earlier, SBI had slashed the interest rates on term deposits by 50 basis points on various maturities.

One of the upcoming private sector banks in India, the Development Credit Bank (DCB) has a network of 80 state-of-the-art branches in ten states and two union territories and a network of over 30,000 ATMs. The bank recently launched its IPO which was oversubscribed by 35 times.

 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Regular fixed deposits in India: Great way...
A checklist of investment options for...
The new avatar of savings account would...
FD: Opportunity for retirees to diversify...
Carnival of Indian Personal Finance Blogs #6


साई बाबा जी ⋐+91 9166736058⋑...
BriTisH )= Escort ( 09999o6s679 ) Service In Munirka...
ஜ Hyderabad EScoℛTs SeRvICe~O768O955835~Call...
chandigarh@ INDIA NO,3 MOHALI CALL GIRLS-09855660911...
LOCAL@ INDIA NO,1 MOHALI CALL GIRLS-09855660911...
MOHALI INDIAS NO,1 ZIRAKPUR CALL GIRLS-09855660911...

NEWS THIS WEEK
Last date to exchange pre 2005 notes 1st January 2015 Dec 22, 2014
New cash Transactions facilities to be launched by NCR corporation Dec 18, 2014
‘Bank aap ki Muththi mein’ branch banking on mobile by HDFC bank Dec 17, 2014
Banks to provide longer hours to carry out RTGS transactions Dec 16, 2014
Andhra Bank to expand its network in Orissa Dec 15, 2014
News Archive