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IndusInd Bank hikes deposit rates
November 19, 2004 15:42 IST
In a second round of hike in interest rates, IndusInd Bank on Friday raised the rates by 0.10-0.25 per cent on domestic term deposits in select maturites. The hike has been effected due to hardening of interest rates, the private sector bank said on Friday.
On November 2, the bank had announced 0.10-0.25 per cent hike in interest rates on select short term deposits.
The rate for the 15-30 day maturity bracket (of upto Rs 15 lakh) would be 4.5 per cent (earlier 4.25 per cent), 31-60 days 4.75 per cent (4.5 per cent), 61-90 days five per cent (4.75 per cent), the release said.
However, it kept rates for 91-180 days, 191-269 days and 270 days to below one year untouched.
The deposits in one year to below 18 months bracket would attract a rate of 5.75 per cent (5.6 per cent) while for 18 months to below three years six per cent (5.75 per cent), it added.