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Our Bureau

Mumbai, July 1 Bank of India has increased the interest rates on domestic term deposits between 25-60 basis points, across various maturities, with effect from July 2, 2008, said a note the bank.

The bank had raised its benchmark prime lending rate by 50 basis points to 13.25, on Monday.

As per the revised regime, rates on deposits of 180 days to 269 days is 7.5 per cent (7.25 per cent), 270 days to 364 days it is 7.75 per cent (7.25 per cent), one year to less than three years – 9.25 per cent (8.85 per cent), three years and above – 9.5 per cent (8.9 per cent).

Dena Bank also raised its BPLR by 50 basis points with effect from July 1, 2008 and the interest rate on domestic term deposits by 25-75 basis points for various maturities of 180 days and above with effect from July 4, 2008, said a press note from the bank. Deposits for maturity of two years and above will now earn interest rate of 9 per cent.

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

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