Sunday 12 May 2013

IDBI bank reduces deposit rate

IDBI bank reduces interest rate upto 0.15 to-0.50 percent on term deposits. Accordingly, the term deposits up to 91 days for the first six months, interest rate is reduced from 7.75 percent to 7.25 percent. Similarly from  6 months to 269 days, the interest rate for term deposits decreased to 0.15 per cent and estimated as 8.50 percent. Recently, the Reserve Bank has reduced Repo rates by 0.25 per cent. Subsequently the IDBI bank has reduced the deposit rate. It is expected that other banks also reduce interest rate and is expected to announce soon.

No comments:

Post a Comment