UBI hikes domestic term deposit interest rates of various maturities

Mumbai, May 8 (UNI) Premier public sector bank, Union Bank of India, has revised its interest rates upwards on domestic term deposits of various maturities, stated a release issued here today.

For term deposits less than Rs 15 lakh, the rate stands revised from 6 per cent to 6.04 per cent in case of maturity of 180 days but less than one year, while it has been increased from 6.50 per cent to 6.66 per cent in case of maturity of one year but less than two years.

In case of maturities of two years but less than three years, three years but less than five years and five years and above, the rates have been revised from 6.50 per cent to 6.88 per cent, 7 per cent to 7.71 per cent and 7 per cent to 8.29 per cent respectively.

And in case of term deposits of Rs 15 lakh and above and for a maturity period of 180 days but less than one year, the rate stands revised upwards from 6.25 per cent to 6.29 per cent.

For maturities of one year to less than two years, two years to less than three years, three years to less than five years and five years and above, the rates have been hiked from 6.75 per cent to 6.92 per cent, 6.75 per cent to 7.16 per cent, 7 per cent to 7.71 per cent and 7 per cent to 8.29 per cent respectively.

Senior citizens will be given an additional interest of 0.50 per cent over the card rate on domestic deposits of one year and above, stated the release, pointing out that the above revision is applicable to only fresh and renewal of deposits accepted on and after May 5.

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