Banking on term deposits for assured returns

By: | Updated: March 29, 2016 9:36 AM

Deposits held by individuals in banks went up by 16.7% in 2015 and the share in the total deposits held by them increased to 56.7% in 2015 from 54.5% in 2014.

Bank holidaysThe share of term deposits with original maturity of one year to less than two years increased to 40.4% in 2015 from 36.9% the year before. (Reuters)

Deposits held by individuals in banks went up by 16.7% in 2015 and the share in the total deposits held by them increased to 56.7% in 2015 from 54.5% in 2014. The share of term deposits with original maturity of one year to less than two years increased to 40.4% in 2015 from 36.9% the year before. However, the share of term deposits with longer maturity of two years and above decreased to 35.4% in 2015 from 36.2% in 2014. Average duration of term deposits declined to two years and 2.7 months at the end of March 2015 from 2 years and 3.6 months a year ago. About 46.8% of deposits were in the interest rate range of 9-10%.

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