Financial Daily from THE HINDU group of publications
Wednesday, Nov 10, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Home Page - Interest Rates
Money & Banking - Fixed Deposits


Bank of India hikes deposit rates

Our Bureau

Mumbai , Nov. 9

BANK of India today announced an increase in interest rates on domestic rupee deposits by 25-50 basis points across various maturities.

Bank of India is the first among public sector banks to announce interest rate hikes on deposits. These new rates come into effect from November 10.

The bank has hiked rates in most of shorter tenor deposits by 50 basis points, while in case of longer tenor the hike is to the effect of 25 basis points.

For a maturity period ranging from 7-14 days the interest rates on a minimum deposit of Rs 1 lakh is 3.50 per cent. The interest rate for maturity period of 15 days to 45 days is 4.50 per cent; for 46 days to 364 days - 5 per cent; 1 year to less than 2 years - 5.25 per cent; two years to less than 3 years - 5.25 per cent; 3 years to less than 5 years - 5.50 per cent and 5 years and above - 5.75 per cent.

More Stories on : Interest Rates | Fixed Deposits | Public Sector Banks

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



Stories in this Section
Hearing on Reliance plea against MTNL adjourned


Pension funds' floor capital may be set at Rs 50 crore
Plan panel may set 2007-08 GDP growth target at 8 pc
Another steel price hike on cards
Jumbo mandates McKinsey to seek bids for SWC liquor biz
Mahindra enters Chinese tractor market; in venture with Jiangling
Bank of India hikes deposit rates



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, 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