Daijiworld Media Network – Mangaluru (EP)
Mangaluru, Sep 19: Mangalore Catholic Cooperative Bank increased its rates of interest on fixed deposits. The decision was taken at the executive committee meeting.
Bank's president, Anil Lobo in a news release stated that the rate of interest on fixed deposits for one and two years is increased from 7% to 7.5% and above two years
from 6.75% to 7%. The rates of interest will also apply to NRI deposits also.
Fixed deposits by senior citizens will fetch 8% interest instead of the previous 7.5% for deposits between one year to two years and 7.75% instead of 7.25% for
deposits of more than two years. The new rates of interest will be applicable from September 20.
The president has requested the people to make use of the facility. He also stated that the bank lends loans for various needs at competitive rates of interest.