Revised Rate of Interest in IBN18 Fixed Deposit scheme

Revised Rate of Interest in IBN18 Fixed Deposit Scheme w.e.f 16 May'11 as follows:

  

Scheme (A) Non Cumulative
Period	Minimum Amount (Rs.)	Rate of Interest (%)
		Old Rate	New Rate
6 M	10000	9.00	9.00
1 Yr		11.00	11.50
2 Yr		11.00	11.50
3 yr		11.00	11.50

 

 

Scheme (B) Cumulative
Period	Minimum Amount (Rs.)	Rate of Interest (%)		Amount Payable on Maturity	Effective Yield (% p.a.)
		Old Rate	New Rate
1 Yr	10000	11.00	11.50	11201.00	12.01
2 Yr		11.00	11.50	12545.00	12.73
3 yr		11.00	11.50	14051.00	13.50

 

* 0.50% additional rate of interest to Sr. Citizen & employees.