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Bharat Overseas Bank hikes deposit rates

CHENNAI: Bharat Overseas Bank has revised the deposit rates upwards with effect from June 1 for deposits maturing less than a year. For deposits of 46 days to 90 days, the bank will offer 5.75 per cent and for 91 days to 179 days, the bank will offer 6 per cent. Similarly, for deposits of term 180 days to 270 days, the new rate offered by the bank is 6.5 per cent from the earlier 6.25 per cent and for 271 days to less than one year, the revised rate is at 6.75 per cent. The bank has introduced a new block of 5 years and above offering 7.75 per cent. It has also revised rates on NRE deposits to 6.40 per cent from the earlier 6.30 per cent, says a bank release.

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