Money & Banking

Bank of India hikes deposit rates

Bank of India hikes deposit rates Mumbai | Updated on March 09, 2011




Bank of India is to hike interest rates on fixed deposits of select maturities by 25 to 75 basis points with effect from March 10, said a press release from the bank. In the longer tenure deposits of over eight years the bank has increased rates by 150-175 basis points.

For deposits of 91-days to 179 days the revised interest rate is 7 per cent (6.25 per cent), for 180-269 days it is 8 per cent (7.25 per cent), 270 days to less than one year it is 8 per cent (7.5 per cent) and for one year and above to less than two years it is 9 per cent (8.75 per cent).

For deposits of five years and above to less than eight years the bank has increased the rate to 8.5 per cent (7 per cent) and on deposits of eight years and above to 10-years the rate has been increased to 8.75 per cent (7 per cent).

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Published on March 09, 2011
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