United Bank cuts deposit rates by 0.25% for select maturities

The rate of interest will be 7.25% from 7.5% earlier

Public sector lender United Bank of India today announced a cut of 0.25 per cent in deposit rates across various maturities.

The revised rates shall be applicable from July 6, 2015, the bank said in a BSE filing.

For maturity of 180-269 days, the rate of interest will be 7.25 per cent from 7.5 per cent earlier, while for one year deposit, it will be 7.75 per cent from 8 per cent.

Among other maturities falling under the range of from above 1 year up to 5 years and above , the new rate of interest will be 7.5 per cent from 7.75 per cent earlier.