Corporation bank hikes interest rates on domestic term deposits

New Delhi, May 3 (UNI) The Corporation Bank has increased the interest rates offered on Domestic term Deposits by 0.25 per cent to 0.50 per cent.

For term deposits of less than Rs 1 crore, the revised rates are 4.50 per cent for a maturity period of 15-45 days, 5.25 per cent for 46-90 days and 5.75 per cent for 91-179 days.

The revised rates for 180 days to less than a year are 6.00 per cent, for a year to less than three years are 6.50 per cent, for three years to less than five years are 7.00 per cent and for five years and above are 7.25 per cent.

For senior citizens, deposits for tenures of 91 days and above will fetch an additional interest of 0.75 per cent over the above rates, a statement released by the bank said here.

The revised rates are effective from 1 May, 2006.

UNI RA MP ND1914