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Central Bank raises term deposit rates

CHENNAI: Central Bank of India has revised interest rates from August 21. The new rates are: 7.25 per cent for 180 days to less than one year against 6.75 per cent; 8.25 per cent for one year to less than two years (7.25 p.c.); 8,50 per cent for 2 years to less than five years (7.50 p.c.); 8.75 per cent for 3 years to less than 5 years (7.75 p.c.) and 8.50 per cent for five years and above (8 p.c.). Senior citizens will get 0.50 percentage point additional interest.

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