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Mumbai, Aug. 11 Bank of India has cut the interest rates on rupee term deposits by 10 to 50 basis points across various maturity periods.

According to a bank press release, the revised rates on deposits having maturity of two years to less than three years would be 9 per cent (9.5 per cent), three to less five years 9.25 per cent (9.6 per cent) and five years and above 9.5 per cent (9.6 per cent).

The revised rates will be applicable only on fresh deposits and on renewal of maturing deposits with effect from August 13.

Senior citizens will now get additional 0.5 per cent above the card rates for maturity of six months and above on all deposit schemes uniformly, the release added.

More Stories on : Interest Rates | Public Sector Banks | Fixed Deposits

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Bank of India cuts term deposit rates

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