IDBI Bank revises interest rates on term deposits, introduces limited-period 500-day fixed deposit
Further, a special bucket of 500 days for US dollar designated FCNR (B) deposits is also introduced offering a peak rate of 3.63 per cent.
Meanwhile, the bank has also revised the interest rates on term deposit across various tenors with effect from Monday.
The bank is now offering the highest rate of 6.55 per cent on select tenors.
Most banks are increasing their deposit rates for boosting deposit to support rising credit off-take as liquidity in the banking system has narrowed.
The hike in deposit rates are in line with the
SEE ALSO :
NFT transactions to reach 40 mn globally in 5 yrs amid scam threats-report
After rice, cereals and pulses could get pricier
Popular on BI
- Kawasaki Ninja ZX-6R vs Honda CBR650R – the 650cc sports bike drag
- Mehbooba put under 'house arrest' ahead of SC verdict on Article 370
- Srinagar freezes at minus 4.8, season's lowest so far
- New Fund Offers explained – Should you bite the bullet or stick to the tried and tested?
- Bullish domestic markets push up Rupee to 83.37/USD