United Bank of India raises deposit rates by 0.25%

New Delhi: State-owned India United Bank of India on Wednesday raised deposit rates across select maturities by 0.25 percent.

With the increase, fixed deposit rate for one-year tenure will increase to 6.5 percent from existing 6.35 percent, the bank said in a regulatory filing.

The interest rate for fixed deposits between 1-3 years will increase to 6.25 percent from 6 percent.

The bank has revised the rate of interest on domestic term deposits for less than Rs 1 crore, with effect from December 14, 2018, it said.