Bank of Rajasthan increases interest rate on term deposits

Mumbai, Aug 4 (UNI) Bank of Rajasthan has increased the interest rate on term deposits with effect from August one.

A bank release here today said with the interest rate of eight per cent per annum, the deposit amount would be doubled in eight years and nine months. The bank would also offer an additional 0.5 per cent over the card rate to the senior citizens.

As per the revised rates, the interest rate for 121 days to 179 days has increased from six per cent to 6.25 per cent. However, the interest rate for the term deposits up to 120 days and 180 days to 270 days would remain the same.

Also, the bank has increased the interest rate for 271 days to less than one year from 6.50 per cent to 7.25 per cent and for one year and above eight per cent as against earlier slabs of seven per cent to 7.5 per cent, the releaase added.

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