IDBI Bank hikes deposit rates by up to 0.75%

New-generation public sector lender, IDBI Bank today hiked its interest rates on deposits across various tenures by upto 0.75 per cent with immediate effect.     

Deposits having a maturity of 1-2 years upto Rs 15 Lakh will now carry and interest rate of 10 per cent while those above Rs 15 lak will attract 10.25 per cent as against 9.5 per cent earlier, the bank said in a statement issued here.     

Similarly, 2-3 years, 3-5 years and above 5 years maturity deposits up to Rs 15 lakh will now carry 9.5 per cent, 9.25 per cent and 9.25 per cent respectively.     

 

Deposits above Rs 15 lakhs in the same maturities, will offer 9.75 per cent, 9.5 per cent and 9.5 per cent respectively, the bank said.     

Short-term deposits in 91 days to six months and six months to one year tenures will attract up to 0.5 per cent more interest rate, the statement said.     

Senior citizens will be given a 0.5 per cent more across various schemes except in 15-45 days tenure.     

IDBI Bank posted a net profit of Rs 160 crore for the quarter ended June 30 while in FY 08 its net profit stood at Rs 729 crore.