Bank of India raises bulk deposit rates for select maturities

Bank of India today revised upwards the interest rates on deposits of Rs 10 crore and above for select maturities.

“...has informed the BSE that the bank has revised the interest rate for the deposit of Rs 10 crore and above for the time bucket of 1 year and above to less than 2 years to 9 per cent (earlier 8.75 per cent),” Bank of India said in a filing to BSE.

The new rates would be applicable from December 27, 2012, it added.

Shares of the bank ended down at Rs 337.60 apiece on the BSE, down 0.82 per cent from their previous close.

Recently, Federal Bank and Dena Bank also revised upwards deposit rates for select maturities.