DCB introduces ‘Freedom 1-2-3 Fixed Deposit Scheme’
Private sector lender Development Credit Bank (DCB) has introduced a new deposit scheme -- DCB Freedom 1-2-3 fixed deposit, for its customers.
The newly launched scheme will offer 10.5% rate to customers in the 375 days to three-year tenure. However, Senior citizens will receive 0.5% more rate above the card rates.
The bank also increased rate for 91 days deposit to 9% from 7% for deposits up to Rs 50 lakh. The new rates will come effective from October 1.
Last Month, DCB notified that the bank along with India's Quantum Group will launch a $500 million infrastructure fund in the first half of 2009.
Nasser Munjee, chairman of India's DCB and Quantum's staff would hold 50 percent stake in the fund.
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