November 2, 2008, Ratekhoj.com. United Bank of India, a public sector bank in India, has announced through a press release that it has raised its fixed deposit interest rates by 100bps or 1.00% for various maturity periods, effective from November 1, 2008.

For the maturity period of 2 years to less than 3 years, the hike is to the extent of 100bps and the interest rate stands at 10.50%. For a deposit period of 1 year to less than 2 years, the new interest rate for fixed deposits is also 10.50%.

Senior citizens earn an interest rate of 11.00% for a deposit period between 1 and 3 years.

Similarly, a 1% hike in the interest rate has been made for fixed deposits with terms from 30 days to 90 days (new interest rate is 7%) and 91days to 179 days(new interest rate is 8%).

The interest rates payable for a deposit period of 3 years to less than 5 years is now 9.75% and that for 5 years & above is 9.25%. Senior Citizens will earn an additional 0.50% more for these periods.

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