The Hindu Business Line : DCB trims deposit rates

Development Credit Bank has cut the interest rates on term deposits of varying maturities with immediate effect. According to a press release from the bank, on deposits having maturity up to one year, the bank has cut the interest rate by 25 basis points and on deposits of one year to three years by 50 basis points. The interest rate on fixed deposits for one year maturity is now at 8.5 per cent, the release added.

— Our Bureau

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