The Hindu Business Line : United Bank cuts domestic term deposit rates

Kolkata, Aug. 3 United Bank of India has revised downward the rates of interest on domestic term deposits of various maturities – the range of reduction varying from 0.25 per cent to 0.5 per cent.

The lowest rate of interest will be 3.5 per cent per annum for seven to 14 days and that too for a deposit of Rs 15 lakh and above and the highest rate will be eight per cent for three years to less than five years and five years and above. Senior citizens will be paid at the additional rate of 0.75 per cent for deposits of maturities from one to two years, , two to three years and five years and above. The bank has re-launched the United Deposit Scheme and United Royal Term Deposit Scheme with shorter period of 400 days (500 days).

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