IDBI Bank hikes interest rates on NRE deposits to 9.5% p. a.

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) December 29, 2011 -- IDBI Bank has revised Interest rates on NRE deposits to 9.5% p.a. for deposits with maturity ranging from 1 year 1 day to 10 years. The Interest rates on deposits for maturity period of 1 year will be 9.25% p.a. This rate will be applicable on fresh NRE deposits & renewal of maturing deposits. The interest rates will stand revised from December 28, 2011.

The revised interest rates are as follows –

Maturity Slab Interest Rate [% p.a.]

1 year 9.25 %

1year 1 Day - years 9.50 %


About IDBI Bank:

IDBI Bank Ltd. is today one of India's largest commercial Banks. For over 40 years, IDBI Bank has essayed a key nation-building role, first as the apex Development Financial Institution (DFI) (July 1, 1964 to September 30, 2004) in the realm of industry and thereafter as a full-service commercial Bank (October 1, 2004 onwards)

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