Corporation Bank has revised its interest rates on
domestic term deposits with effect from 17 February 2003.
The revision effected now will apply to domestic term
deposits as well as deposits under the Capital Gains Account
Scheme 1988 (Scheme B).
of Rs 1 crore to less than Rs 5 crore for a period of
seven to 14 days will now earn an interest at the rate
of 4 per cent. The interest for deposits of Rs 5 crore
and above for the same period has been increased from
4 per cent to 5 per cent.
the 15-45-day maturity band, any amount less than Rs 1
crore will fetch 4.5 per cent. But for deposits of Rs
1 crore and above, the interest for the same period will
remain at 5 per cent.
the 46-179-day category, the interest on deposits of less
than Rs 1 crore will earn 5.25 per cent, while deposits
of Rs 1 crore to Rs 5 crore will fetch 5.75 per cent.
Deposits of Rs 5 crore and above will earn an interest
at an increased rate of 5.85 per cent (5.75 per cent earlier)
for the same period.
amount less than Rs 1 crore for a period of 180 days to
less than one year will now fetch 5.5 per cent and for
deposits of Rs 1 crore and above the interest rate will
remain 6 per cent. For a period of one year to less than
three years, deposits of any amount less than Rs 5 crore
will fetch 6 per cent and deposits of Rs 5 crore and above
6.25 per cent.
deposits for a period of three years and above will earn
6.25 per cent (same as the old rate) irrespective of the
of reports on Corporation Bank