NEWS & ADVICE : FIXED DEPOSITS
Bank of Rajasthan scale down the domestic term deposit rates
By Neelima Shankar
Dec 24, 2008
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Private lender, Bank of Rajasthan (BoR) has declared a reduction in the interest rates of fixed deposit across various maturities. The rates have been revised by the bank to keep in pace with the market interest rate. The new interest rate structure of BoR is going to attract many customers across the nation.

The interest rates on Domestic Term Deposits (including NRO deposits) are revised on for certain tenure while deposits with other tenure earn the same interest rate. The revised interest rate of the bank stood as follows:

Tenure of DepositRate of Interest EarlierRate of Interest Now

7days to 14 days

4.00 %

4.00 %

15 days to 45 days

5.25 %

5.00 %

46 days to 90 days

5.50 %

5.50 %

91 days to 120 days

6.00 %

7.25 %

121 days to 179 days

8.00 %

8.00 %

180 days to 364 days

9.00 %

8.75 %

1 year to less than 15 months

10.60 %

10.10 %

15 months

10.60 %

10.35 %

Above 15 months to 2 years

10.60 %

10.10 %

Above 2 years to 3 years

9.50 %

9.50 %

Above 3 years

9.25 %

9.25 %

The bank has replaced its earlier tenure of 1 year to less than 2 years into three new slabs of 1 year to less than 15 months, 15 months, above 15 months to 2 years. Also senior citizens will avail an additional 50 basis points over the card rates.

The revised interest rates of the bank are applicable from December 22nd.

The bank has also scaled down interest rates on home loan under ‘Apna Ghar Scheme' with effect from December 22nd, 2008.

 


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