DCB revises interest rates

Chennai, Jun 1 (UNI) Development Credit Bank Limited, a leading private sector financial institution today revised its interest rates upwards.

The new rates will be effective from June one, 2007, a release said here.

The bank has introduced an attractive interest rate of 9.25 per cent per annum (for amount below Rs 15 lakh) for the fixed deposit period from five to nine months.

The deposit will offer greater flexibility in withdrawal of funds to customers, with no charges, thereby taking care of their immediate fund requirements.

Additionally, the bank also offers attractive interest rates for 369 days, 569 days and 869 days at ten per cent per annum (for amount below Rs 15 lakh).

The bank has introduced new slabs of 1369 days and 1869 days for long-term deposit holders with attractive rates, the release added.

UNI