CENTRAL BANK UPS ITS DEPOSIT RATES BY UP TO 0.5 PC

Central Bank of India raised its deposit rates by up to 0.5 per cent, with effect from August.

For deposits up to Rs 15-lakh, the rate has been increased from 6.5 per cent to 6.75 per cent for a tenor of 1-2-years while for a tenor of 91-days to 179-days, it has been upped from 5 per cent to 5.25 per cent. For a tenor of 46-90-days, it has been upped from 3.75 per cent to 4.25 per cent.

For deposits of Rs 15-lakh to Rs 1-crore, the rate has been increased from 4 to 4.25 per cent for a tenor of 46-90-days.

For a tenor of 1-2-years, the rate has been upped from 6.5 per cent to 7 per cent while for 2-3-years tenor, the rate has been upped from 6.75 per cent to 7 per cent.

Source: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/Central-Bank-ups-its-deposit-rates-by-up-to-05-pc/articleshow/6229031.cms