NEWS & ADVICE : FIXED DEPOSITS
Deposit, lending rates hiked by IDBI Bank, DCB
By Neelima Shankar
Feb 8, 2011
Print    Email    RSS   

Public sector lender, IDBI Bank has raised its benchmark prime lending rate (BPLR) by 25 bps and base rate by 50 bps. With the rise, the BPLR and base rate of the lender stand at 14% and 9.5% respectively.

Development credit Bank has also announced a hike in its prime lending rates. Both BPLR and base rate of the bank have been upped by 50 bps each to 16.25% and 9% respectively.

IDBI Bank has also increased its fixed deposit rates by as much as 25 to 125 bps across different maturities.

Deposits of maturity in the range of 91 days to six months will now offer the depositor an interest of 7.5% while that of six months to 269 days will fetch an interest of 7.75%.

Interest will be 8.75% for deposits of 1 year to 499 days tenor and it will be 9% for tenor of 1100 days to 5 years.

The move by the banks come in follow up of many peers like Dena Bank, Bank of India, Union Bank of India, Indian Overseas Bank, Syndicate Bank which have also raised rates after the policy rate hike by Reserve Bank of India.


 


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

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Fetch higher interest rate on your savings...
The new avatar of savings account would...
A checklist of investment options for...
Things you should know while filing income...
Sweep in to Auto Sweep savings A/c


as sr citizen i deposit 40lacs i want to know how...
Escorts in panchkula......9872814230???
I was deposit Rs,200000,00 by Mis self sbi saving...

NEWS THIS WEEK
Karnataka Bank progressing well Jul 31, 2014
EPFO stiffer in following the Inoperative account norms Jul 30, 2014
IDBI bank denied for the offer of the merger with the UBI bank Jul 29, 2014
Karnataka Bank signed MOU with Star Ari warehousing and Collateral Management Jul 28, 2014
Registration for the common banking entrance exam have started Jul 24, 2014
News Archive