Centurian bank increase interest rates for maturities

Mumbai, Apr 21 (UNI) New generation private sector banking major Centurion Bank of Punjab today revised its interest rates upwards for various maturities with effect from yesterday.

A release here today said that the rate revision was in line with the prevailing increasing interest rate trends in the market.

The bank is offering eight per cent per annum for resident Indians for a period of five years and above with an effective yield of 9.72 per cent and 8.75 per cent per annum for senior citizens for the same period, the effective yield working out to 10.83 per cent.

The interest rates for a maturity of 91 days-to 180 days stands revised to 5.75 per cent from 5.50 per cent for deposits up to Rs 15 lakh. For maturities of one year but less than two years and for two years to less than three years, the rate has been revised upwards to seven per cent from 6.50 per cent, said the release.

For a maturity period of three years and more but less than five years, the revised rate is 7.50 per cent as against the previous rate of seven per cent.

UNI JJ PP SKB1857