Hyderabad, July 9 (UNI) Development Credit Bank (DCB) today announced it had increased to 8.75 per cent the interest rate for Resident and NRO Deposit in the 149-days deposit tenure.
The revised interest rate of 8.75 per cent would be applicable for deposits amounting to less than Rs 15 lakh, from Rs 15 lakh to Rs 50 lakh and from Rs 50 lakh to less than Rs 1 crore.
The new interest rate would be effective from July eight, 2008, according to a press release here.
DCB claimed it's 149-days deposit provided superior returns and greater value to customers. Moreover, senior citizens would be eligible for an additional 0.5 per cent interest.
The market leading interest rate is currently available to existing and new customers who opened the 149-day deposit.