BoI cuts deposit rates on select tenures by 0.25%

Bank of India (BoI), today said it has reduced deposit rates by 0.25 per cent on select tenures.

For deposits less than Rs 15 lakh with a maturity of 180 days to 269 days, the rate has been reduced to 5.75 per cent from 6 per cent while, for 270 days to 364 days, it stands reduced from 6.25 per cent to 6 per cent, a bank statement to the Bombay Stock Exchange (BSE) said.

For deposits of Rs 15 lakh and above but less than Rs 1 crore and for a maturity of 180 days to 269 days, the rate has been cut from 6 to 5.75 per cent, the statement said.

For a maturity of 270 days to 364 days, the rate has been cut from 6.25 per cent to 6 per cent, it said.