Biznext India : Public sector United Bank of India has revised the rate of interest on domestic term deposits for deposits below Rs.1 Crore by 0.25% or 25 basis points. The new rates will be effective from 14th of this month.
“The Asset Liability Management Committee of the Bank in its Meeting held on 11.12.2018 has revised the rate of interest on domestic term deposits for less than Rs. 1crore, with effect from December 14,2018” the bank said in a regulatory filing.
While, the interest rate for 1 year term deposit has been revised to 6. 50% from the existing 6.25%, the rate for a tenure between 1-2 year has been revised to 6.25% from the existing 6%. Deposits for a tenure between 2-3 years has also been revised to 6.25% from the existing 6%.