Bank of India has hiked deposit rates on select maturity periods by 25-50 basis points. The bank informed Bombay Stock Exchange in a press release. According to the press release, the bank has hiked interest rates on deposits having more than three months maturity period.
For deposits of up to Rs 15 lakh, having maturity of 91 days to 179 days, the rate has been hiked to 7 per cent (7.25 per cent). For deposits of 270 days to less than one year maturity, the revised rate is 8.25 per cent (8 per cent). For deposits of one year to less than two years, two years to less than three years, three years to less than five years and for five years and above, the revised rate is 9.25 per cent.