Central Bank of India revises deposit rates

Central Bank of India has raised 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 domestic term deposit rates will apply only to fresh deposits and renewal of maturing deposits. An additional interest rate of 50 basis points per annum over and above the normal rate of interest for any of the time deposit schemes would be given as incentive for senior citizens.