CORPN BANK RAISES DEPOSIT RATES

Corporation Bank has increased the rate of interest on term deposits for different bands from six months to five years and above with effect from November 25. The revised interest rates for term deposits of less than Rs 15 lakh are as follows: For maturity band from six months to less than nine months, the rate of interest is 7.25 per cent (7.10 per cent); for nine months to less than 12 months, 8 per cent (7.1 per cent); for 12 months to less than two years, 8.10 per cent (7.50 per cent); for two years to less than three years, 8.10 per cent (7.25 per cent); for three years to less than five years, 8.20 per cent (7.25 per cent); for five years and above, the rate of interest is 8.20 per cent (7.50 per cent). ‘New Corp Premium' deposit scheme of 33 months stands withdrawn with effect from November 25.

SOURCE: http://www.thehindubusinessline.com/2010/11/24/stories/2010112451290600.htm