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Tuesday, Jul 30, 2002

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Canara Bank cuts deposit rates

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CANARA Bank has reduced deposit rates across some maturities ranging from 0.25 to 0.5 per cent. A bank release said that these rates will take effect from August.

Following are the revised domestic term deposit rates: 15 - 45 days from 4.75 to 4.25; 46 - 90 days from 5.50 to 5; 91-179 days no change at 6; 180 to less than one year no change at 6.50; one year to less than two years from 7.25 to 7; two years but less than three years from 7.50 to 7.25 and 3 years and above from 8 to 7.50.

Canbank's NRE deposit rates have also been reduced by 0.25 per cent at the short end and 0.50 per cent at the long end — for maturities above three years.

Bank of India

MUMBAI: Bank of India (BoI) has revised interest rates on domestic term deposits as well as non-resident external (NRE) term deposits, downwards by 25 basis points in some maturities, effective from July 29.

For domestic term deposits with a maturity of seven to 14 days, the new rate is 5 per cent, for 15 to 90 days 5.75 per cent, for 91 to 364 days 6.50 per cent, for one-year to less than three years 7.25 per cent and three years and above 8 per cent

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