Public sector bank United Bank of India has announced the new deposit rates. The rates are applicable from 13th February, 14. It has been reported that there has been a hike 0.25% in the base rate, earlier the rate was 10.25%.
The deposit rates for the tenure of 1 year and above have been revised by 0.25% are new rate is 8.50%. The deposit rates are reduced by 0.255, earlier it 8.75%. According to a bank statement the changes in the rates are made following the revision in rates made by the apex bank Reserve Bank of India. Further it is reported that loan accounts linked to the base rate will be affected.