Key Points
State-owned Bank of Maharashtra (BoM) on Wednesday increased its fixed deposit rates by up to 125 basis points, or 1.25 per cent..
The rate increase applies to fixed deposits as well as special schemes as per period maintained by the bank, it said...
The hike in deposit rates will encourage individuals and business to save more as there is a sharp increase of 125 bps in deposit rates for the tenure of 46-90 days, it said...
For tenure of 1-year interest would be 6.50 per cent and for deposits above one year, customers will enjoy an increase of 25 bps, up to 6.25 per cent, it said...
The bank's attractive interest rates make it a compelling option for both short-term and long-term savers fostering trust and loyalty among them, it said.. (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)..
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