Bank of Maharashtra increases interest rates

Pune, Jul 8 (UNI) In a bid to give better and improved return to its investors, Bank of Maharashtra (BoM) has increased the interest rates by 55 basis points from 8.75 per cent to 9.30 per cent and 80 basis point for senior citizens from 9.00 per cent to 9.80 per cent for one year deposits.

The changed interest rates are applicable from tomorrow.

The interest rate structure on NRO deposits would be the same as applicable to the domestic term deposits and the above revision will also be applicable from July 10.

The Bank's Term Deposit scheme, 2006, will also continue for the financial year 2008-09 with prevailing interest rate of 9.00 per cent (9.50 per cent for senior citizens), a Bank note said here today.

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