United Bank of India cuts fixed deposit interest rates

United Bank of India has cut its fixed deposit rates by 0.25 percentage points from July 6 onwards.

With this, the Bank now offers rates of 7.25% interest for deposits up to 269 days (from 180 days) and up to 7.75% for 270-365 days. Above one year, United Bank of India offers interest rates of 7.5%.

The cut comes in the wake of policy rate cuts by the Reserve Bank of India.