Bank of India hikes deposit rates by up to 250 basis points

Major public sector lender, Bank of India has hiked deposit rates across various maturities by a maximum of 250 basis points or 2.5 percent. Most of the leading banks have already revised their deposit rates, the revisions are a result of the hike in the policy rates from Reserve Bank of India.

After the hike in the deposit rates of the Bank of India, now the deposit for a maturity period of 15-30 days will attract an interest of 4.50 percent as compared to the 2.75 percent, similarly rates have been hiked across various other maturities that will allow the investors to earn more in their deposits.

The revised deposit rates are applicable form 1^st June.