NEWS & ADVICE : FIXED DEPOSITS
Central Bank of India raises deposit rates
By Neelima Shankar
Dec 10, 2010
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Public sector lender, Central Bank of India has declared raising fixed deposit rates by as much as 175 basis points across different maturities.

The revised rates have come into effect from December 9, 2010.

Deposits maturing from 15 days to 45 days will now fetch the depositor interest of 5% as compared to 3.25% earlier while those deposits which have tenor of 180-269 days will earn 8% as compared to 6.25%.

For 270 to 364 days deposits, the interest will now be 8% while it was 6.5% earlier.

Interest rates for deposits having tenor of 1 year to less than 2 years and 2 years to less than 3 years have been revised to 8.25%. For 3 years to less than 5 years, the interest rate will now be 8.5%.

Tenors of 5 years to less than 7 years and 7 years and above will have 8.6% interest now.

The 555 day Cent Super Plus scheme, which is the highest earning scheme of the bank, will now have interest of 8.55%. This scheme is valid only till December end.


 


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