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Bank of Rajasthan increases interest rates on deposits

The Bank of Rajasthan revised interest rates on its 'tax-saving term deposit scheme from 9.5% to 9.75% with effect from July 16, according to a bank press release dated 14th July, 2007.

Apnaloan.com Research Bureau

10 Aug 2007

The Bank of Rajasthan revised interest rates on its tax-saving term deposit scheme from 9.5% to 9.75% with effect from July 16, according to a bank press release dated 14th July, 2007.

For senior citizens, the bank has increased the interest rates on fixed deposits to 10.25%, the bank said. Investments in this scheme are eligible for tax benefit under Section 80C of Income Tax Act. Under this scheme, any one can invest a minimum of Rs 100 and its multiples; thereof to a maximum of Rs 1 lakh and can avail of tax benefit under Section 80C.