Mumbai:
Bank of Rajasthan has lowered its deposit rates by 25
to 75 basis points, effective 8 April 2002. Term deposits
for a deposit of 180 days to less than one year have been
revised in all three deposit amount segments, said a press
release issued here.
On deposits less than Rs
15 lakh, interest rates have been dropped to 7 per cent
from the previous 7.25 per cent. Interest rates on a single
deposit of Rs 15 lakh to less than Rs 50 lakh have been
reduced to 7.25 per cent from the earlier rate of 7.50
per cent. In the high net-worth category for a single
deposit of Rs 50 lakh and above for the same period has
come down from 7.75 per cent to 7.50 per cent.
In the
interest rates for the one-year-less-than-two-years segment
there has been a further revision in all three-term categories.
Interest rates for a deposit less than Rs 15 lakh now
stands at 7.25 per cent as compared to the previous rate
of 8 per cent, whereas the interest rate for deposits
of Rs 15 lakh less than Rs 50 lakh and also a single deposit
of Rs 50 lakh and above are now revised to 7.50 per cent
from the previous 8.25 per cent.
Interest rates for the
term deposits for the period of two years to less than three years
have also undergone a revision. For deposits below
Rs 15 lakh the interest rates announced by the company is 7.50 per
cent as compared to the previous 8 per cent. For single deposits
in the high net categories of Rs 15 lakh and above and Rs 50 lakh
and above the interest rates are now 7.75 per cent as compared to
the earlier rate 8.25 per cent.
For the long-term deposit
of three years and above the bank has declared a uniform rate of
interest in all three-deposit amount categories. The rate of
interest revised by the bank is now at 8 per cent from the earlier
rate of 8.25 per cent. Senior citizens will be extended a 0.75-per
cent interest above these deposit rates.
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