From correspondents in Maharashtra, India, 11:49 AM IST

Bank of Rajasthan, a technology driven private sector bank, has announced an increase in interest rates on fixed deposits across different tenure with effect from 25th August 2008. Bank has tuned itself to be with time once again and has revised upward interest rates for certain tenures that will benefit banks millions of customers across the country. BoR is staying ahead in the race for customer friendly gesture.

The Bank has brought in a new slab of 1 year to 2 year with a very pleasing interest rate of 10.25 % per annum. This slab provides one of the highest yields in the market and is ideal for customers looking to invest in a medium term fixed deposit. For the said tenure rate for senior citizens will be 10.60%. For 121-179 days and 180-364 days rates are hiked from 7.50% to 8.00% and 8.25% to 9.00% respectively. Rate for over 3 years have been increased from 9.00% to 9.25%.

BoR has also introduced e-payment of taxes for its customers from this month. With the help of which banks customer can pay their taxes hassle free. With this move, bank is proving its customer friendly services linked to technical developments and ease the process.

The revised interest rate table is appended below.

Revised Interest rates on Domestic Term Deposits (including NRO deposits)

(Effective from 25.08.2008)

(Rate of interest % p.a.)

PERIOD Revised Rate of Interest Old Rate of Interest

7 days to 14 days* 4.00% 4.00%

15 days to 45 days 5.25% 5.25%

46 days to 90 days 5.50% 5.50%

91 days to 120 days 6.00% 7.00%

121 days to 179 days 8.00 % 7.50%

180 days to 364 days 9.00% 8.25%

1 year to 2 years 10.25% (Sr. Citizen 10.60%) -----

Above 2 years to 3 years 9.50% -----

Over 3 years 9.25% 9.00%

* Minimum Rs. 1.00 lac

Source: Press Release Distribution via India PRwire