Dena Bank ups deposit rates, maintains base rate at 8.25%

Public sector Dena Bank, today said that it has increased interest rates on its domestic term deposits by 0.25-0.50 per cent for various maturities.

However, the bank has maintained its base rate at 8.25 per cent till further review, it said in a press release issued here.

The increase in deposit rates is effective October 7.

Deposits for a maturity of one-year to less than two-years will earn an interest rate of 7.25 per cent per annum, whereas maturity of two-years and above will now earn an interest rate of 7.50 per cent per annum, the release said.

For senior citizens, an additional interest over and above the card rate will be paid at 0.50 per cent per annum for all maturities.