Here is Latest Financial Business Banking News India on Bank of India Reduction on Interest Rates of Fixed Deposits.
BoI (Bank of India) is decreased interest rates of select fixed deposits, effective July month.
Recently SBI increased interest rates on select FDs by 0.25%, While UBI (Union Bank of India) has declared cuts in interest rates for farm loans up to 1.75% effective July 1st.
Now latest interest rates on FDs are likes follows:
2-3 years Fixed Deposits rates trimmed 0.25% to 9%
1,111 days term deposits now changed to 9.10% as against 9.30%
3-10 years fixed deposits rates slashed to 9% from 9.25%.
These changes in rates are will effective from July month.
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