Union Bank of India announces new term deposit scheme

Mumbai, Jan 15 (PTI) Public sector lender Union Bankof India today announced a new 1100 days term deposit schemeoffering an interest of 9.15 per cent per annum.

The bank will start accepting deposits under thespecial deposit plan from Monday, it said in a release issuedhere today.

The Mumbai-headquartered bank already offers a 700days term deposit with an interest of 8.60 per cent which willrun concurrently with the newly announced 1100 days plan, itadded.

In the April-December period, the bank has registereda deposit growth of 17.24 per cent as against the industrialaverage of 14.7 per cent, it said.