United Bank of India, UCO Bank hike deposit rates

United Bank of India has increased the rate of interest on domestic term deposits below Rs 5 crore by 25 basis points effective March 1.

The revised rates for deposits of one-year tenure have been increased to nine per cent (8.75 per cent). Senior citizens will get an additional 50 basis points benefit on the rate, said a bank statement.

UCO Bank has also upped interest rates on term deposits of Rs 1-5 crore effective March 2.

The revised rates on deposits of 91-120 days has been increased to 8.75 per cent (8.25 per cent) and that on 121-180 days has been hiked to 8.75 per cent (8.30 per cent).

shobha.roy@thehindu.co.in


Source: thehindubusinessline