State-run Dena Bank declared an interest rate of 10.25% on its domestic term deposit of 700 days. However senior citizens would get a 0.50% higher interest rate for the deposits of similar maturity.
The interest rates on NRE rupee term deposits with a tenure ranging between one year and less than two years have also been revised from 3.17% to 4.46%.
The bank has also raised its interest rates on FCNR (B)/RFC term deposits in dollar (USD), Pound (GBP), Euro, Canadian (CAD) and Australian (AUD) dollars for the maturity period of one year and above but less than two years.
Under the new slab, interest rate on dollar deposits has been raised to 3.71% from 2.96%. The GBP deposit rate is increased to 6.27% as against the earlier 5.77% whereas on Euro deposit the rate has been revised to 5.24% from 5.08%.
On CAD, the new rate stands at 4.55% as against the earlier 3.42% and on AUD front the rate is increased to 7.55% from 7.22% earlier.
Dena Bank was founded on May 26, 1938 by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company Ltd. The bank became a Public Ltd. Company in December 1939 and later the name was changed to Dena Bank Ltd. Dena Bank offers all the latest services such as Any Branch Banking, Multi-City Cheque Facility, Telebanking, Electronic Fund Transfer to its customers.