Business Daily from THE HINDU group of publications
Thursday, Jan 29, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Thursday, Jan 29, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Money & Banking
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Interest Rates LVB cuts deposit, lending rates Coimbatore, Jan. 28 Lakshmi Vilas Bank has effected a 50 bps -150 bps cut in its domestic deposit term rates (for different maturities) from January 27. It plans to reduce its prime lending rate by 25 basis points to 15.25 per cent from February 7. For deposits in the 1–2 year time bucket, the reduction in rate is 75 bps , while it is 50 bps cut for the 2–3 year term deposit. The revised rate for deposits maturing between one and 2 years has been reduced to 10.25 per cent and 10.5 0 per cent for those maturing between 2 and 3 years. The rate has been cut by 50 bps for short maturities – between 15 and 181 days, and by 150 bps for maturity period of 181–270 days. — Our Bureau More Stories on : Interest Rates | Private Banks
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