The Hindu Business Line : LVB slashes deposit rates

Lakshmi Vilas Bank has decided to slash interest rates across various time buckets from June 1. The fold back in interest rates range from 25 to 100 basis points. For maturity period of 15-29 days, the rate reduction would be one per cent at 3.50 per cent from the existing 4.50 per cent. It has been proposed to reduce it to 4 per cent (4.75 per cent) for the 30-45 days deposit. The yield on the 46-90 days is being revised to 4.50 per cent (5 per cent) and for the 91-180 da ys term period at 5.50 per cent (6 per cent). For the 181-270 days time bucket, the bank has proposed to slash it by one per cent to 6.50 per cent (7.50 per cent) and for the 271-364 days to 7.50 per cent (8.25 per cent).

— Our Bureau

More Stories on : Fixed Deposits | Private Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Shriram Transport looking at portfolio buy

Yields harden on rise in govt borrowings, credit demand revival

Bond carry trade has few takers

SBI aims to add 4 cr rural deposit accounts

SBI launches product for army personnel

LVB slashes deposit rates

DCB to bank on relationship model

Joseph Massey to head MCX-SX

New GM for SBH