The Hindu Business Line : United Bank hikes deposit rates

United Bank of India has increased interest rates on term deposits by 100 basis points effective November 1, according to a statement issued by the bank. The revised rates on a term deposit of two-to-less than three years stand at 10.5 per cent (9.5 per cent). Rates on deposits in the time bucket of 30-90 days and 91-179 days have been revised by 100 basis points at 7 per cent and 8 per cent respectively. Senior citizens will earn 11 per cent interest in the one-to-less th an three years time bucket. The bank has also revised interest rates payable to the period of three-to-less than five years at 9.75 per cent and for five years and above at 9.25 per cent. Senior citizens would earn an additional 0.50 per cent more on these periods.

— Our Bureau

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