UNION BANK HIKES DEPOSIT INTEREST RATES

Union Bank of India announced that it will offer domestic term deposit rates at 8.10 per cent per annum for the next 500 days. The new rate will be applicable from December 1. The bank also raised the interest rates for rupee deposits made by the non-resident Indians. Rupee deposits made by the diaspora for a term of over three years will fetch an interest rate of 2.79 per cent, up from the earlier 2.53 per cent while those between one and two years have been increased marginally to 2.54 per cent from 2.51 per cent, the bank said in a release issued here.

SOURCE: http://www.thehindubusinessline.com/2010/12/02/stories/2010120253430600.htm