New scheme SIB-500 from South Indian Bank | 9% interest rate is offered on non-cumulative deposits under SIB-500 introduced by South Indian Bank

December 6th, 2010| Finance.

New scheme SIB-500 from South Indian Bank | 9% interest rate is offered on non-cumulative deposits under SIB-500 introduced by South Indian Bank

South Indian Bank, a private sector bank introduced a new scheme with the name SIB-500.  9% interest would be given on non-cumulative deposits under this scheme.  Time period for this scheme is 500 days.  The bank has announced that this new scheme will be available from 1st December, 2010 to 30th December, 2010.   As a part of this scheme, another 0.5% interest is also offered to senior citizens.  This scheme will be available in branches all over India.  Bank officials are expecting an increase in the number of new customers and also an increase in the business.

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