Bank of India and IDBI Bank hiked the interest rate on retail term deposits by 25-75 basis points in different maturity buckets, with immediate effect.
The bank has hiked the rates keeping in view credit demand, inflation and liquidity scenario, said a press release from IDBI Bank.
This is the second round of deposit rate hikes by both banks.
Both banks had hiked deposit rates earlier in December along with their BPLR and Base Rates.