REPCO Bank raises deposit ratesRepatriates Co-operative Finance and Development Bank (REPCO Bank) has hiked the interest rates on its deposits by launching two special schemes, with effect from September 8.
25 Sep 2008
By launching two special schemes, Repatriates Co-operative Finance and Development Bank (REPCO Bank) has hiked the interest rates on its deposits, with effect from September 8, 2008.
The Repco Reward Senior Citizens scheme is offering an interest of 11.25 per cent per annum on this scheme for senior citizens for 15 months. For others, the interest will be 11 percent per annum for the scheme. The interest can be drawn on a monthly, quarterly or half-yearly basis. The interest rate is compounded and the interest is paid with the principal on maturity, under Repco Star Scheme. The yield will be nearly 11.90 per cent.