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Sunday, May 12, 2002

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Money & Banking - Interest Rates


UCO Bank to cut deposit rates

Our Bureau

KOLKATA, May 11

UCO Bank has decided to reduce the rate of interest on deposits having maturity period two to three years from 8 per cent to 7.75 per cent, and for the period three years to five years from 8.25 per cent to 8 per cent.

According to an official release issued here by the bank, the rate of deposits from banks will be the same as that enjoyed by public deposits. All other rates remain unchanged. The changes come take effect from June 13.

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