The South Indian Bank (SIB) has revised term deposit rates with effect from July 30, 2010. The bank will offer 7.50 per cent interest on deposits between one year and 3 years against the prevalent 7.25 per cent. Senior citizens will get interest at 8 per cent.
The rates on deposits between 46 days and 90 days will be 4.25 per cent (4.75 per cent for senior citizens); 5.50 per cent (6 per cent for senior citizens) on deposits between 91 days and 179 days; and 6.25 per cent (6.75 per cent for senior citizens) on deposits between 180 days and 1 year.
The rate will be 7.50 per cent (8 per cent for senior citizens) for term deposits between 3 years and 5 years. Deposits above 5 years will get 8 per cent interest (8.50 per cent for senior citizens), an SIB press release said here on Saturday. — PTI