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Corporation Bank has increased rate of interest on term deposits of one year to three years by 50-75 basis points with effect from January 20.
A bank release said here the revised rate of interest on term deposits for one year to three years will be 9 per cent. Earlier, the rate of interest was 8.5 per cent for 12 months only; 8.25 per cent for 12 months to less than two years; and 8.25 per cent for two years to less than three years.
Senior citizens will be offered an additional interest rate of 0.50 per cent, the release added.
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