Corp Bank hikes term deposit rates

Corporation Bank has increased rate of interest on term deposits of different bands with effect from Monday. The revised rates for deposits of less than Rs 1 crore are as follows: For maturity band from 30 to 45 days, the rate has been increased to 7 per cent (4.50 per cent). For maturity band of 12 months only, the rate is 9.50 per cent (9.30 per cent for deposits of less than Rs 15 lakh, and 9.20 per cent for deposits of Rs 15 lakh to less than Rs 1 crore). For maturity band of above 12 months to less than two years, the new rate is 9.50 per cent (9.15 per cent). A bank release said here on Tuesday that senior citizens will be offered 10.10 per cent for 12 months to less than two years for deposits of less than Rs 1 crore.