Bank of India increases rates of short-term deposits by 50 bpts
By Mumbai: | 15 May 2003
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Mumbai: Bank of India has decided to increase the interest rate on short-term deposits by 50 basis points.
The change in the rates in the maturity buckets of seven-to-14 days and 15-to-45 days will be effective 20 May 2003.
For deposits with maturity between seven-to-14 days the interest rate has been increased to 4.50 per cent (4 per cent) per annum and for deposits with maturity between 15-to-45 days the interest rate has been raised to 4.75 per cent (4.25 per cent).
