Indian Bank to change interest rate structure from August 16
DSIJ Intelligence / 14 Aug 2017
With interest of 4% per annum for incremental balance above Rs 50 lakhs and 3.50% per annum for balance up to Rs 50 lakh, Indian Bank has rolled out a two-tier interest rate structure, effective August 16, for savings account customers.
With interest of 4% per annum for incremental balance above Rs 50 lakhs and 3.50% per annum for balance up to Rs 50 lakh, Indian Bank has rolled out a two-tier interest rate structure, effective August 16, for savings account customers.
The bank’s stock on Friday ended in red, gaining 2.11% at Rs 278.80 per share on the BSE. It attracted a total traded quantity of 1.28 lakhs. Indian Bank has been retaining a healthy dividend payout of 18% and has posted growth of 5.57% over the past five years. It has provided return on equity of 7.97% for the last three years.
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