Bank of India raises deposit rate by up to 2.5 per cent
State-owned Bank of India (BoI) today raised fixed deposit rates on various maturities by up to 2.5 per cent.
The bank increased the interest rate by 250 basis points (2.5 per cent) to 5.50 per cent for term deposits of 31-45 days' tenor. The deposit rate increase is the maximum in this slab, the bank informed the Bombay Stock Exchange (BSE).
For fixed deposits with a tenor between 15-30 days, the new interest rate will be 4.50 per cent against the existing 2.75 per cent, while 46-90 days fixed deposits will attract an interest rate of 5.50 per cent, an increase of 150 basis points
The bank increased the interest rate by 250 basis points (2.5 per cent) to 5.50 per cent for term deposits of 31-45 days' tenor. The deposit rate increase is the maximum in this slab, the bank informed the Bombay Stock Exchange (BSE).
For fixed deposits with a tenor between 15-30 days, the new interest rate will be 4.50 per cent against the existing 2.75 per cent, while 46-90 days fixed deposits will attract an interest rate of 5.50 per cent, an increase of 150 basis points
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