LKB to hike deposit rates from Dec 15

Lord Krishna Bank on Monday hiked interest rates on deposits by 0.25-0.35 per cent for various maturities effective from December 15.

The bank revised upward interest rates for deposits less than Rs 15 lakh to 6.25 per cent from 6 per cent for 181 days to a year, 6.50 from 6.25 per cent for 2-3 years, 6.50 from 6.25 per cent for 3-5 years, LKB said in a statement.

LKB hiked interest rates for deposits higher than Rs 15 lakh to 6.50 from 6.25 per cent for 181 days-1 year, 6.75 from 6.50 per cent for 2-3 years, and 6.75 per cent from 6.50 per cent for 3-5

The bank has hiked interest rates by 0.35 per cent for all deposits above five years.

LKB has also offered 0.50 per cent higher than the normal rate of interest on all term deposits of senior citizens while keeping the saving bank deposit rates unchanged at 3.5 per cent.

The revised rates are applicable only in respect of fresh deposit and renewal of existing deposits, LKB said.