Dhanalakshmi Bank reduces deposit rates up to 1%

By Pradeep Yuvaraj | October 13, 2009

Private sector bank, Dhanalakshmi Bank has trimmed its deposit rates by up to 1 per cent across various maturities, a press release issued by the bank said. The new rates which will be effective from the 12th of October are as follows

– Deposit rates for a maturity period of 15-days to 45-days and 45-days to 90-days have been trimmed by one per cent from 4 to 3 per cent and from 5 to 4 per cent, respectively.

– Rates for a maturity period of 91-days to 179-days have been cut by 0.75 per cent from 6 to 5.25 per cent.

– For a maturity period of 91-days to 179-days, the rate has been cut by 0.75 per cent from 6 to 5.25 per cent

– For maturity periods of 3-years but less than five-years and 5-years and above up to and inclusive of 10-years, the rate remains unchanged at 7.50 per cent and 8 per cent, respectively.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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