UCO announces upward revision in interest rates

Kolkata, July 14 (UNI) UCO Bank today announced upward revision of interest on domestic term deposits by 25 basis points with effect from July 13 for periods ranging from 15 days to 5 years and above.

The Bank, in a statement, said the rates of interest applicable for the periods 15-29 days has been revised from 4.25 per cent to 4.50 per cent, for the period one year to less than two years and two years to less than three years has been revised from 6.75 per cent to 7 per cent, for the period three years to less than five years the interest rate has been revised from seven per cent to 7.25 per cent.

The rate of interest for other periods and the benchmark PLR rate remained unchanged.

The bank also decided to accept deposits for a minimum period of seven days provided the deposit amount is Rs 15 lakh and above.

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