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BOI cuts deposit rates

Bank of India has reduced the rates on its term deposit rates by 50 basis points

Apnaloan.com Research Bureau

12 Nov 2007

Bank of India has reduced interest rates on its term deposits by 50 basis points. As per a press release, the effective rate on deposits for one to two years will be 8.5 per cent and 9 per cent for deposits five years or more.

The bank has withdrawn all its special schemes with lock-in-periods and special rates of interest.