Central Bank of India hikes Deposit rates

Central Bank of India has made a press release on wednesday stating that it has increased the interest rates on domestic term deposits of maturity of 180 days and above by 50 to 100 basis points with immediate effect.

The revised term deposit rates are applicable only to fresh deposits and renewal of maturing deposits. Senior Citizens would get an additional interest rate of 50 basis points per annum over and above existing interest rates.