BoI hikes deposit rates

Bank of India (BoI) has hiked deposit rates on select tenures by up to 75 basis points (bps) from Thursday.

For deposits less than Rs. 10 crore the bank will offer 9.15 per cent on 1- 2 years, 9.25 per cent on 2-3 years and 9.5 per cent on 3-5 years tenure.

The interest rate on floating rate deposit scheme will be 0.25 per cent over the term deposit rates applicable to the relevant tenures of deposits for maturities of 3 years and above.