After the revision of interest rates, domestic and non-resident depositors of the Chennai-based public sector bank will get a hike of up to 7.15 per cent for deposits of 444 days, three years and above.
According to a statement issued by the bank, interest rates have been increased by 60 basis points for fixed deposits with tenures of 270 days-to-one year and one year to three years.
The public sector bank saw its net profit jump 33.2 per cent to Rs 501 crore for the second quarter ended September 30. The earnings numbers were released last Sunday.
The bank’s net profit for the half year ended September 30, 2022 increased to Rs 893 crore from Rs 703 crore during the same period last year.
The total income during the said quarter increased to Rs 5,852.45 crore from Rs 5,028 crore as on June 30, 2022.
The total business of the bank stood at Rs 4,34,441 crore as against Rs 4,23,589 crore. Deposits increased from Rs 2,60,045 crore to Rs 2,61,728 crore.
The NPA ratio stood at 2.56 per cent as on September 30, as against 2.77 per cent on September 30, 2021.