Corporation Bank revises interest rates

Corporation Bank has revised the rate of interest on term deposits ranging from 0.50 per cent per annum to 1.25 per cent for different maturity bands. It became effective on September 6, the bank has said in a release.

For maturity band from 30 days to 45 days, the rate of interest for deposits less than Rs. 15 lakh, has been revised to 3.75 per cent; for deposits from Rs. 15 lakh to less than Rs. 1 crore, it has been revised to 4 per cent and for deposits from Rs. 1 crore to less than Rs. 5 crore, the rate of interest has been revised to five per cent.

For maturity band from 61 days to 90 days, the rate of interest has been revised to 5 per cent, 5 per cent and 5.60 per cent in the order of the three deposits' period.