• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai, Aug. 14

Union Bank of India has hiked interest rates on term deposits by 25 to 100 basis points, effective August 16, 2008.

It has introduced a new term deposit product of 444 days offering an interest rate of 10 per cent per annum.

In the under Rs 15 lakh category, the interest rate on deposits of 180 days to less than 9 months has been increased from 8 per cent to 8.25 per cent , on 9 months to less than 1 year from 8 per cent to 8.50 per cent, on one year to 443 days from 9.50 per cent to 9.75 per cent, on 445 days to less than 3 years from 9.50 per cent to 9.75 per cent and on three years and above from 9 per cent to 9.50 per cent.

In the RS 15 lakh and above category, the interest rate on deposits of 46 days to 90 days has increased from 5.50 per cent to 6.50 per cent. Interest rates on all other tenors are the same as the under- Rs15 lakh category.

More Stories on : Fixed Deposits | Public Sector Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line