Centurion Bank of Punjab revises deposit rates

New Delhi, Aug 10 (UNI) Centurion Bank of Punjab has decided to revise the interest rates on domestic term deposits with effect from August 13.

The rate on term deposits of maturity between 271 days and one year has been revised upwards by 50 basis points to eight per cent annually from 7.5 per cent; for 13 months 16 days to two years the rate has been increased by 50 basis points to nine per cent from 8.5 per cent and that of two years one day to three years, the rate has been revised to 8.75 per cent from 8.25 per cent.

For three years one day to less than five years, the rate has been revised upwards by 50 basis points to 8.75 per cent from 8.25 per cent.

For five years and above, the rate has been increased by 50 basis points to 8.50 per cent from eight per cent.

The Bank offers eight per cent for resident Indians for a period of five years and above with an effective yield at 9.72 per cent and 8.50 per cent per annum to senior citizens for the same period.

UNI