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UBI slashes int rates by 25 to 50 basis points on deposits
Kolkata, Dec 05: United Bank of India (UBI) has decided to reduce by 25 to 50 basis points the interest rates on domestic term deposits of various tenures which would come into effect from December eight.
Kolkata, Dec 05: United Bank of India (UBI) has
decided to reduce by 25 to 50 basis points the interest rates
on domestic term deposits of various tenures which would come
into effect from December eight.
As per the revised rates, interest rates on deposits of
15 days to 29 days has been brought down by 50 basis points to
four per cent from 4.50 per cent at present while for deposits
of other tenures, an across the board reduction of 25 basis
points was made, UBI said in a release today.
The bank has, however, kept unchanged at four per cent the interest rates on deposits of seven days to 14 days.
It said interest rates on deposits of 30 days to 45 days would be 4.25 per cent and that on 46 days to 90 days would be 4.50 per cent. Deposits of 91 days to 179 days would attract an interest of 4.75 per cent while that of 180 days to less than one year would be five per cent.
For deposits of one year to less than two years, interest rates would be 5.25 per cent, two years to less than three years would be 5.75 per cent and for three years and above would be 5.75 per cent.
Senior citizens would continue to get 75 basis points higher interest on deposits of all the tenures, except that on seven days to 14 days, the release added.
Bureau Report
The bank has, however, kept unchanged at four per cent the interest rates on deposits of seven days to 14 days.
It said interest rates on deposits of 30 days to 45 days would be 4.25 per cent and that on 46 days to 90 days would be 4.50 per cent. Deposits of 91 days to 179 days would attract an interest of 4.75 per cent while that of 180 days to less than one year would be five per cent.
For deposits of one year to less than two years, interest rates would be 5.25 per cent, two years to less than three years would be 5.75 per cent and for three years and above would be 5.75 per cent.
Senior citizens would continue to get 75 basis points higher interest on deposits of all the tenures, except that on seven days to 14 days, the release added.
Bureau Report