DCB bank offers 10.97% p.a. on fixed deposits !!!!!!!!!!!!!!!!

Don't be misled by the advertisement the bank is giving in the newspaper and its website. There is small catch * T & C apply. Now a days banks are also offering misleading advertisements to get the attention of customers. See the above advertisement bank is actually paying 9.60% p.a. for the fixed deposits of less than one crore for the period 24 months to 36 months. Then wherecome 10.97% ??. The bank is using 'effective yield'  as the tool. The effective yield works out to be 10.97% for the above period. But the bank's should not use such misleading ads for attracting customers.

The DCB Bank is offering 9.6% for deposits of less than one crore for the period 24 months to 36 months and the senior citizens will get 0.5% above this rate for the same tenure.

IBA offer of 5% rise in payslip bill inadequate: Unions

While bank managements, under the aegis of the Indian Banks Association, are ready to bear the burden of a 5% increase in the payslip component of the total wage bill, trade unions in the banking sector say the increase in not adequate if one takes into account the rising inflation. Mohan V. Tanksale, Chief Executive, IBA, said the offer of 5% increase in the pay slip bill was not acceptable to the unions.

ATM usage charges may rise

Banks are likely to start charging customers for transacting more than five times a month at any bank ATM, including their own bank. Banks have mooted the charge on ATM transactions to pay for the increased security costs at ATMs, put in place by many State Governments, following the grievous attack on a woman inside an ATM kiosk in Bangalore last November. Currently, there is no cap on the number of transactions that a customer can undertake at his own banks ATM. However, the number of free transactions at other banks ATMs has been capped at five a month. Banks may also down the shutters of some ATMs at night, especially at locations where footfalls are low. Banks have requested the RBI to allow them to increase the ATM interchange fees (the fees paid by the card-issuing bank to the acquiring bank) to Rs 18 from Rs 15 a transaction now. Further, they want to pass on the costs arising from the interchange fee and switching fee to customers from the sixth transaction onwards.