Dhanlaxmi Bank offers interest rate of 9.35% p.a. for 500 days deposits; 9.85% p.a. for senior citizens
Dhanlaxmi Bank has increased its domestic term deposit rates by 25 to 50 basis points. The new rates will be effective from 3 February 2011 are applicable for term deposits of Rs15 lakh and above and up to and inclusive of Rs1 crore.
To strengthen the retail liability base, the bank has bifurcated the card rate slab into two- for term deposits less than Rs15 lakh and for term deposits of Rs15 lakh and above and up to and inclusive of Rs1 crore. Earlier, the bank offered maturities for deposits up to and including Rs50 lakh.
The recently introduced medium term maturity of 500 days will continue to be offered at a peak interest rate of 9.35% p.a., an increase of 35 bps. Senior citizens will be offered peak rate of 9.85% p.a.
Interest rate on medium term deposits with maturity period between 91-179 days has been increased by 25 bps to 7.50% p.a. Rates for deposits with a tenor of between 180-365 days has been increased by 50 bps to 8.50% p.a.
Rates for short term deposits between 7-14 days, 15-45 days and 46-90 days have been kept unchanged at 3.50%, 5.00%, 6.00% respectively.
Interest rates for long term maturities of 366-499 days, 501 days & above up to and inclusive of 2 years and for the bucket of above 2 years up to and inclusive of 5 years too have been kept unchanged at 8.60%, 8.60% and 8.75% respectively.
Senior citizens will be eligible for an additional rate of 0.50% p.a. for tenures starting from 180 days and above, as before.
DSP BlackRock Mutual Fund’s new issue closes on 3rd February
DSP BlackRock Mutual Fund has launched DSP BlackRock FMP-3M-Series 29, a close-ended income scheme.
The primary investment objective of the schemes is to seek capital appreciation by investing in a portfolio of debt and money market securities. The scheme will invest only in such securities which mature on or before the date of maturity of the Schemes. The schemes may also use fixed income derivatives for hedging and portfolio balancing.
The new issue opens on 2nd February and closes on 3rd February. The minimum investment amount is Rs10,000.
ICICI Prudential Mutual Fund new issue closes on 4th February
ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan - Series 55 - 6 Months Plan A, a close-ended income scheme.
The investment objective of the Plan is to generate regular returns by investing in of fixed income securities/debt instruments maturing on or before the maturity of the plan under the scheme.
The new issue opens on 2nd February and closes on 4th February. The minimum investment amount is Rs5,000.