Bank of India raises interest rate on bulk deposit: stock up

Bank of India on Thursday raised interest rates on bulk deposit. The new rates would be applicable from December 27, 2012.

Bank has revised the interest rate for the deposit of Rs. 10 Crores & above for the time Bucket of 1 Year and above to less than 2 years to 9% (earlier 8.75%).

Shares of the bank were seen trading at Rs 339, higher by 0.59% on the BSE. It touched an intra-day high of Rs 343.

Also, few other banks like Federal Bank and Dena Bank also revised upwards deposit rates for select maturities.

Meanwhile, the broader benchmark Sensex was quoting at 19,418, up 89 points and the NSE was at 5898, up 28 points at 12.25 pm IST.

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