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TMB raises deposit rates

Tuticorin-based Tamilnad Mercantile Bank has raised the interest rates on domestic term deposits, effective from August 8.

08 Aug 2008

Tuticorin-based Tamilnad Mercantile Bank has raised the interest rates on domestic term deposits, effective from August 8, 2008. The interest rate for deposits with a maturity period of one year now stands at 10 per cent (as against 9.75 percent) for the public and for senior citizens 10.25 percent (as against 10 percent). The interest rates have been raised to suitably reward the depositors due to the impact of the prevailing inflation rate.



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