Mumbai: Bank of Rajasthan has lowered its deposit rates by 25 to 75 basis points, effective 8 April 2002. Term deposits for a deposit of 180 days to less than one year have been revised in all three deposit amount segments, said a press release issued here.

On deposits less than Rs 15 lakh, interest rates have been dropped to 7 per cent from the previous 7.25 per cent. Interest rates on a single deposit of Rs 15 lakh to less than Rs 50 lakh have been reduced to 7.25 per cent from the earlier rate of 7.50 per cent. In the high net-worth category for a single deposit of Rs 50 lakh and above for the same period has come down from 7.75 per cent to 7.50 per cent.

In the interest rates for the one-year-less-than-two-years segment there has been a further revision in all three-term categories. Interest rates for a deposit less than Rs 15 lakh now stands at 7.25 per cent as compared to the previous rate of 8 per cent, whereas the interest rate for deposits of Rs 15 lakh less than Rs 50 lakh and also a single deposit of Rs 50 lakh and above are now revised to 7.50 per cent from the previous 8.25 per cent.

Interest rates for the term deposits for the period of two years to less than three years have also undergone a revision. For deposits below Rs 15 lakh the interest rates announced by the company is 7.50 per cent as compared to the previous 8 per cent. For single deposits in the high net categories of Rs 15 lakh and above and Rs 50 lakh and above the interest rates are now 7.75 per cent as compared to the earlier rate 8.25 per cent.

For the long-term deposit of three years and above the bank has declared a uniform rate of interest in all three-deposit amount categories. The rate of interest revised by the bank is now at 8 per cent from the earlier rate of 8.25 per cent. Senior citizens will be extended a 0.75-per cent interest above these deposit rates.