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Interest rates have been hiked in the range of 5 basis points to 10 basis points, which translates to a rise by 0.05 per cent to 0.1 per cent.
Under the revised rate structure, the deposits for 1 year to 2 years will now accrue 6.7 percent as against 6.65 percent earlier.
For senior citizens, while term deposits of one year to less than two years will fetch 7.20% interest as against 7.15% earlier, term deposits of five years and up to ten years will earn 7.35% interest as against 7.25% before.
For investments from 2 years to 3 years, the interest rate has also been revised to 7.3 percent from earlier 7.15 percent.
Revision in Interest Rates On Retail Domestic Term Deposits (Below Rs 1 Crore) w.e.f. 30th July 2018
Revision in Interest Rates on Domestic Bulk Term Deposits (Rs 1 Crore to Rs 10 Crore) w.e.f. 30th July 2018
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