Indian Bank hikes deposit interest rates on shorter maturities | india | Hindustan Times
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Indian Bank hikes deposit interest rates on shorter maturities

Indian Bank has increased its deposit interest rates by 50 to 75 basis points on shorter maturities.

india Updated: Oct 04, 2010 00:19 IST

Indian Bank has increased its deposit interest rates by 50 to 75 basis points on shorter maturities.

Bank Chairman and Managing Director TM Bhasin said the Bank had proactively increased the rates for deposits above two years to 7.75 per cent in August itself.

The Bank has also increased the Base rate to 8.5 per cent, a release said on Sunday.

The release said the agricultural sector under interest subvention scheme and the Bank's special schemes under poultry and fisheries would be protected from the increase.

Loans to micro industries were also exempted partially, it added.