NEWS & ADVICE : FIXED DEPOSITS
Savings a/c rates hiked by Saraswat Co-op Bank
By Neelima Shankar
Nov 30, 2011
Print    Email    RSS   

The largest cooperative lender of the country, Saraswat Cooperative Bank has announced a rise in interest rates of its savings bank acccounts. The interest rate now stands at 6% from 4% earlier.

With the largest lender in this segment raising interest rates, fellow peers are expected to soon follow suit.

As per quarterly basis of crediting interest rates, the effective interest annuallly would stand at 6.14% for customers.

"In the current rising inflation rate environment, bank depositors are getting a raw deal. Hence, we decided to increase the interest rate on SB deposits. Our intention is not to wean away customers from other banks but to give a better deal to our existing customers," said Mr Eknath K. Thakur, Chairman, Saraswat Co-operative Bank, while speaking on the occasion.

The revised rates are to come to effect from December 01, 2011.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Know about corporate fixed deposits
FDs or Equity? Which suits you best?
Tax saver fixed deposits in India earn you...
12 point conduct checklist for bank and...
Investment options to Save Tax under...


NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...
If I invest 100000 rupees deposit for 2 year , how...

NEWS THIS WEEK
Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive