Kerala’s Cooperation Dept raises deposit interest rates; senior citizens to benefit
The deposit mobilisation drive, which began on March 5, will continue until April 3.
The deposit mobilisation drive, which began on March 5, will continue until April 3.
The deposit mobilisation drive, which began on March 5, will continue until April 3.
Thiruvananthapuram: The Kerala Cooperation Department has increased deposit interest rates to overcome setbacks faced during its deposit mobilisation drive.
The interest rate for deposits with a tenure of less than two years has been raised to 8.50%, while deposits exceeding two years will now earn 8.75%. The revision comes after depositors began withdrawing funds following the reduction of interest rates to 8% in both categories.
Additionally, senior citizens will receive up to 0.5% extra interest on fixed deposits.
The deposit mobilisation drive, which began on March 5, will continue until April 3.