Syndicate Bank today increased the interest rates on short term deposits, with effect from November 20.
For domestic term deposits up to Rs 15 lakh, interest rates for the period from 91 to 179 days has been increased from 6 per cent to 7 per cent. For deposits above Rs 15 lakh the increased rate is 7.50 per cent. For deposits over Rs 15 lakh for the period from 180 days to less than one year, interest is increased to 8.75 per cent, the bank said in a press release.