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NEW DELHI: Union Bank of India increased fixed deposit rates on select maturity by up to 1.25 basis points.
The new rates will come into effect from November 11, 2013.
Fixed Deposits between 46-120 days will now stand at 7.50 percent. Earlier the interest rates were 7.25 percent. Similarly in the slab of 31 to 45 days, the interest rate is increased by 1.25 per cent to 6 per cent.
Bank has reduced the interest rate on deposit for 5 to 7 years maturity by 0.25 per cent.
The rate revision by various lenders comes after the Reserve Bank of India increased interest rates by 0.25 per cent in its monetary policy on October 29.
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