Exim Bank pays 10% interest per annum on term deposits

Export-Import Bank of India (Exim Bank) today announced an increase in interest rate on term deposits to 10 per cent per annum (quarterly compounded) for tenures of 12-60-months with effect from August 1.   

Senior citizens and persons with disabilities are eligible for additional interest of 0.25 per cent per annum for deposits of 12-35-months and 0.50 per cent per annum for 36-60-months, a release issued here stated.     

The benefit of the increased rate is also available to the existing deposits for the residual period till maturity, provided the residual tenure is not less than one year.     

The bank's term deposits have been rated 'AAA' by Crisil, ICRA and Fitch.     

"The deposits offer a good combination of competitive returns and the highest safety as the bank is wholly-owned by the Government of India," the release said.