Corporation Bank raises deposit rates

Corporation Bank has revised its rate of interest on term deposits. For deposits of less than Rs 1 crore are as follows: for up to 12 months only 9.50 per cent and for 2 years to less than 5 years 9.25 per cent. These are effective from May 28, 2012.

The 12 months deposit has been named as “Corp Super Smart – II” where no penalty will be levied for premature withdrawal of deposits. Senior citizens will get an additional 50 bps more interest.