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BRIEF-Bank of India introduces two-tier system of interest on savings bank deposits‍​
August 24, 2017 / 8:28 AM / 3 months ago

BRIEF-Bank of India introduces two-tier system of interest on savings bank deposits‍​

Aug 24 (Reuters) - Bank Of India Ltd

* Says introduces two tier system of interest on savings bank deposits‍​

* Says for balances up to inr 5 million, bank has set rate of interest at 3.50 percent

* Says for balances above 5 million rupees the rate of interest has been set at 4.00 percent

* Says rates will take effect from august 24, 2017 Source text: [Bank of India has introduced Two Tier system of Interest rates on Savings Banks Deposits. For balances up to Rs. 50 lacs the bank has set the rate of interest at 3.50% and for balances above Rs. 50 lacs the rate of interest has been set at 4.00%. These rates will take effect from August 24, 2017] Further company coverage:

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