Dena Bank plans to mop up Rs 4,500 crore through its three deposit schemes in a bid to increase its long term funding base. The bank is also working on its international foray, a top official said.

The bank has rolled out three deposit schemes, which would be available from August 24 to September 26. Under one of the three schemes called Dena Double scheme, the principal amount would get doubled in a period of nine years with an effective interest rate of 7.78 per cent for general public and 8.28 per cent for senior citizens.

In the other schemes, it offers deposits for 551 days and 1,001 days with an interest rate of 7.25 and 7.50 per cent, respectively and senior citizens will get 0.50 per cent more interest.

The bank plans to collect Rs 1,500 crore from its Dena double plan and Rs 3,000 crore from the other two schemes. “The new deposit schemes would help us have more liquidity in terms of long term funding, as we are focused on infrastructure funding,” DL Rawal, CMD of Dena Bank, said.

Meanwhile, the bank is working on a road map to make its international foray and an internal team is working on the footprint. “We would be focusing on countries where there is more Indian ethnic population. UK, West Asia, Africa and Canada are the potential targets. We would seek the help of an external agency to develop a business model for the international presence,” Rawal said.

He added that the bank would have its international presence by next calendar year. It would also open 56 branches in India and seek for 44 more branch licences this year itself.