Calcutta, Mar 24: UCO Bank has lowered the interest rates on domestic term deposits with effect from April 1, 1999. Rates on short-term deposits of 15-45 days have been maintained.The revised rate on deposits of duration 46-90 days, 91-179 days, 180 days to less than one year, one year to less than two years, 2 years to less than 3 years; and 3 years and above are 6.5 per cent (eight per cent), seven per cent (8.5 per cent), eight per cent (nine per cent), 9.5 per cent (10.5 per cent), 10 per cent (11 per cent) and 10.5 per cent (11.5 per cent) respectively.
The revised rates on NRE deposits are nine per cent (10 per cent) on deposits of 180 days to less than one year; 10 per cent (11 per cent) on deposits of one year to less than two years; and 10.5 per cent (12 per cent) on deposits of two years and above.
The rates on NRNR deposits have been reduced to 10 per cent from 11 per cent for deposits of six months to less than one year and 11 per cent from 12 per cent for deposits of one year to threeyears.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.