United Bank of India hikes domestic term deposit rates by 25 bps

United Bank of India today said it has increased interest rates on domestic term deposits below Rs 5 crore by at least 25 basis points. The rate hike is effective from March 1, 2013.

The Kolkata-based state-run lender will now pay 9% interest on term deposits with one year maturity compared to 8.75% earlier. Term deposits of 30 days to less than a year will earn interest at the rate of 8.75%.

For senior citizens, the bank will offer an additional 50 basis points interest for deposits with maturity of one year and above.