Dena Bank re-launches term deposit scheme ‘Dena-444’

Dena Bank, a public sector lender has re-launched its term deposit product ‘DENA - 444’ with maturity tenor of 444 days for its retail customers. The scheme will be open for a limited period from May 1, 2014 to June 30, 2014, a window of 60 days. The scheme offers interest rate of 9.15% per annum to General Public. Senior citizens will be offered an interest rate of 9.65%. The scheme would be available both on cumulative basis (Interest compounded on quarterly basis) and non-cumulative basis at all branches of the bank. Dena Bank has reported 67.16% fall in its net profit at Rs 67.80 crore for third quarter ended December 31, 2013 as compared to Rs 206.44 crore for the same quarter in the previous year. However, total income of the bank has increased by 10.56% at Rs 2662.80 crore for quarter under review as compared to Rs 2408.42 crore for the quarter ended December 31, 2012.