Bank of Rajasthan hikes deposit rates

July 21st, 2008 - 10:27 pm ICT by IANS  

Mumbai, July 21 (IANS) Private sector lender Bank of Rajasthan has hiked its term deposit rates by 25 to 50 basis points under different time slabs effective from Monday. The bank has also announced the introduction several new slabs like 500 days with 10 percent interest rate per annum and lending with 10.25 percent interest rate for senior citizens.

For a period of 12 months to 16 months and 13 days, the interest rate will be 9.75 percent and for a period of 16 months and 15 days to 36 months the interest rate will be 9.5 percent.

The bank has increased the rate of interest for three years from 8.75 to 9 percent. In the tax saving scheme, it has increased the interest rate to 9.5 percent from nine percent.

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