For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Union Bank of India revises fixed deposit rates

By Religare
|
Union Bank of India revises fixed deposit rates
State-run Union Bank of India has revised fixed deposit rates on select maturity by up to 1.25 per cent in line with other lenders, said the media report.
 

Fixed deposits between 46 days to 120 days would now fetch 0.25 per cent higher interest rate of 7.50 per cent against existing 7.25 per cent, Union Bank of India said in a statement. Similarly in the slab of 31 to 45 days, interest rate is increased by 1.25 per cent to 6 per cent, it said.

The move is intended to increase the retail term deposit base of the bank, it said. Bank has reduced the interest rate on deposit for 5 to 7 years maturity by 0.25 per cent. The new rates would be effective from November 11, it said.

The rate revision by various lenders comes after the Reserve Bank of India increased interest rates by 0.25 per cent in its monetary policy on October 29.

Dion Global Solutions Ltd.

Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more