BoM hikes domestic term deposit rates

Pune, Jan 23 | Updated: Jan 24 2007, 06:19am hrs
The Bank of Maharashtra (BoM) has increased interest rates on domestic term deposits with effect from January 22, 2007.

The bank is now offering interest at 8.5% per annum on the deposits of over three years and 8.25% per annum on the deposits of over one year. In case of single deposit of Rs 15 lakh and above, the depositor will get interest 8.5% per annum for deposits over one year. Additional 1% is payable to senior citizens on all term deposits for 91 days and above subject to a maximum rate of 9%, a statement issued by the bank said.