Mahabank raises term deposit interest rates

Pune, May 2 (UNI) Bank of Maharashtra, one of the country's leading nationalised bank has increased the interest rates on it's term deposits with effect from today, According to a release, the rise in rate is applicable for a slab of period over one year upto 2 years. It is 50 basis points from 6.25 per cent to 6.75 per cent. For a period over 2 years upto 3 years, the rise is from 6.50 per cent to 6.75 per cent, while for the period over 3 years upto 5 years, the rise is from 6.25 per cent to 7.00 per cent. For the period over 5 years the rate is 7.25 per cent per annum, the release said.

The current hike in interest rates will be applicable to fresh deposits made from 2nd May, 2006.

Adopting a customer friendly attitude, the highest rate offered by bank is among the best rates offered, compared to competitors.

This apart, the bank has, as usual, taken care of the senior citizens by offering an additional 1 per cent on their deposits.

UNI DWN PP SKB2018