BUSINESS

KVB revises deposit rates

CHENNAI DEC. 4. Karur Vysya Bank has revised its domestic deposit rates for all maturities of 91 days and above by 25 to 75 basis points effective from December 1. NRE deposits also are offered on a par with domestic deposit rates, says a bank release.

The revised interest rates are: For deposits of 91-179 days, 6.25 per cent, for 180 days to less than one year 6.5 per cent, for one year and above but less than three years 7 per cent and for three years and above 7.25 per cent. There is no change in rates for periods up to 90 days.

Bank of Maharashtra

Bank of Maharashtra has reduced its prime lending rate and prime term lending rate. The new PLR will be 11.5 per cent and PTLR will be 12 per cent w.e.f. December 1, says a bank release.

The bank has also revised its rate of interest on deposits. It will now be paying one per cent more interest for term deposits kept for one year and more to the senior citizens.

The bank will be paying minimum interest of 4.25 per cent on deposits of Rs. 15 lakhs and above for 7-14 days. The rate varies from 4.75 per cent for 15 days and above up to maximum 7 per cent above five years for different maturity patterns. The rate of interest for one year is 6 per cent.

UCO Bank

UCO Bank has decided to go for downward revision in interest rates on deposits by 25 basis points across the board except for the period 180 days to 364 days where the rate remained the same at 6 per cent.

The new rates will be effective from December 7, the release said.

After the revision, interest rate on deposits of 15 to 45 days would be 4.75 per cent, 5.25 per cent on 46 to 90 days, 5.50 per cent on 91 to 179 days, it said.

The rate for the period one year to less than three years would be 6.50 per cent and for the period three years and above would be 6.75 per cent.

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