NIC Bank has brought yet another unique deposit product - NIC Super Deposit, an innovative term deposit with a never heard interest rate of up to nine per cent bundled with flexibility of a savings account. The Super Deposit account will have a tenor of three or five years and it will attract eight per cent interest for three years and nine per cent interest for five years, states a press release. The account can be opened with a minimum balance of Rs 500. The customer will get a free debit card. “And It will help check capital flight,” the bank says.
Source: THT
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Monday, June 9, 2008
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