United Bank of India raises deposit rates by 0.25%

The interest rate for fixed deposits between 1-3 years will increase to 6.25 per cent from 6 per cent.

The interest rate for fixed deposits between 1-3 years will increase to 6.25 per cent from 6 per cent. Source: PTI

State-owned India United Bank of India on Wednesday raised deposit rates across select maturities by 0.25 per cent. With the increase, fixed deposit rate for one-year tenure will increase to 6.5 per cent from existing 6.35 per cent, the bank said in a regulatory filing.

The interest rate for fixed deposits between 1-3 years will increase to 6.25 per cent from 6 per cent. The bank has revised the rate of interest on domestic term deposits for less than Rs 1 crore, with effect from December 14, 2018, it said.

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Union Bank of India (UBI)