BOI RAISES FIXED DEPOSIT RATES BY UP TO 75 BASIS POINTS

Bank of India has raised fixed deposit rates for various maturities by up to 75 basis points.

The rate hike comes ahead of the Reserve Bank's second quarter policy review.

For fixed deposit of 91-179 days, the new rate would be higher by 75 basis points at 6.25 per cent for all deposits less than Rs one crore.

For deposits maturing between 180-269 days, the deposit rates has been hiked by 50 basis points to 6.50 per cent.

For deposits maturing between 270-364 days, it has been hiked by 75 basis points to 6.75 per cent and for all deposits for 1 year to less than two years, it has been raised by 50 basis points to 7.5 per cent.

SOURCE: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/BoI-raises-fixed-deposit-rates-by-up-to-75-basis-points/articleshow/6853286.cms