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Escorts Finance offers 14% on 1-year deposit
United News of India
New Delhi, Feb 6: In keeping with the upward interest rates trend in the market, Escorts Finance Ltd has revised its interest rates for its various fixed deposit schemes from February 1, 1998.Managing director Jayant Dang said the interest rate applicable for the one-year tenure has been increased by one per cent to 14 per cent on the cumulative deposit scheme and 13.50 per cent on the quarterly income scheme. Under the 24 months-plus-one-day monthly income scheme, the interest rate now applicable will be 14 per cent, while for the 36,48 and 60 months deposits it will be 14.50 per cent. The tenure for the Double Money scheme has also been decreased from 60 to 56 months. With this change, the annual yield will now increase from 20 per cent to 21.43 per cent. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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