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Central bank hikes deposit rates
Our
Banking Bureau
15 November 2004
 Mumbai:
Central Bank of India announced a hike of domestic term
deposit rates by 25 to 75 basis points on Saturday with
immediate effect on new deposits and renewal of maturing
deposits, according to a communiqué from the bank.
The
bank has revised interest rates as follows:
- 15-45
days rate from 4.25 to 4.50 per cent,
- 46-90
days from 4.50 to 4.75 per cent,
- 91-179
days from 4.5 to 5.25 per cent,
- 180
days to less than one year from 5 to 5.75 per cent,
- 1
to 3 years from 5.25 per cent to 6 per cent,
- over
3 years to 5 years from 5.25 per cent to 5.75 per cent
- Over
five years from 5 to 5.50 per cent.
 The
communiqué also stated that bulk deposits of Rs15
lakh and above for 7 to 14 days would remain unchanged
at 4 per cent interest.
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