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BoI hikes term deposit rates

Our Bureau

Mumbai , Dec. 7

BANK of India has raised interest rates on domestic rupee term deposits with effect from December 1.

The interest rates have been increased by 25-50 basis points on various maturities, said a press release from the bank.

Senior citizens will get 50 basis points more on rates for deposits of six months to one year.

Deposits of one year and above will fetch additional 100 basis points.

The interest rate on floating rate deposit scheme will be 25 basis points over the term deposit rates.

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