Mumbai: Leading public sector bank in the country, Central Bank of India has increased the interest rates on fixed deposits under Rs 2 crore across a range of tenors.
The bank will continue to give an interest rate of 2.75% on fixed deposits maturing in 7 to 14 days and an interest rate of 2.90% on fixed deposits maturing in 15 to 30 days. The interest rate on fixed deposits that mature in 31 to 45 days will remain at 3.00%, while the interest rate on term deposits that mature in 46 to 59 days will remain at 3.35%. Central Bank of India has hiked its interest rate by 15 bps from 3.35% to 3.50% on fixed deposits maturing in 60 – 90 days and for fixed deposits maturing in 91 – 179 days the interest rate will be 4.00% .
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On fixed deposits maturing in 180 – 270 days the bank has hiked the interest rate by 15 bps from 4.50% to 4.65% and the bank has hiked the interest rate by 25 bps from 3.50% to 4.75% on fixed deposits maturing in 271 – 364 days. Fixed deposits maturing in 1 year to less than 2 years will now fetch an interest rate of 5.45% and term deposits maturing in 2 years to less than 3 years will now fetch an interest rate of 5.50%.
Fixed deposits maturing in 3 years to less than 5 years, will now get 5.50% interest and n fixed deposits maturing in 5 years & above up to 10 years, will continue to fetch an interest rate of 5.60%. Fixed deposits maturing in 555 days will continue to offer an interest rate of 5.55%.
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