Bank of India has increased the interest rate on bulk deposits of Rs 10 crore and above for one to less than two years maturity to 9 per cent (from 8.75 per cent) with effect from December 27.
According to a Finance Ministry directive, bulk deposits and certificate of deposits, put together, cannot exceed 15 per cent of public sector banks’ total deposits.
A couple of days ago, Dena Bank and Federal Bank had upped their deposit rates.
http://www.thehindubusinessline.com/industry-and-economy/banking/bank-of-india-increases-bulk-deposit-rates/article4248888.ece
