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Exim Bank raises deposit rates

Export Import Bank of India (Exim Bank) has raised its interest rates from the existing 9.5 percent to 10 percent per annum on term deposits maturing between 12 and 60 months.

14 Aug 2008

Export Import Bank of India (Exim Bank) has raised its interest rates, its second round of revision. The interest rate has been increased from 9.5 percent to 10 percent per annum on term deposits maturing between 12 and 60 months.

The bank had already raised its rates from 9 to 9.5 per cent with effect from July 1, 2008.

Senior citizens and individuals with disabilities will get an additional interest rate of 0.25 percentage point for deposits maturing between 12 and 60 months.  For deposits maturing between 36 and 60 months, the additional interest paid could increase by 0.50 percentage point.

Crisil, ICRA and Fitch have assigned a AAA rating to the term deposits with duration ranging between 12 and 60 months.



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