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LVB raises interest rates further

KARUR: Lakshmi Vilas Bank has announced an upward revision of interest rates for domestic term deposits, both short and medium term, from October 15. These rates are applicable to fresh deposits and renewals. The existing rate for 181-270 days has gone up to 10 per cent per annum from 8.75 per cent and for 1 and 3 years, it has increased by 50 basis points from 10 per cent. Interest on all other medium and long-term deposits have also seen an increase, says a release. — Corporate Reporter

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