BoI introduces 2Tier system of Interest on Savings deposits

New Delhi, Aug 24: Bank of India (BoI) has introduced Two Tier system of Interest rates on Savings Banks deposits. According to a bank’s statement, for balances up to Rs 50-lakh the bank has set the rate of interest at 3.50 per cent and for balances above Rs 50-lakh the rate of interest has been set at 4.00 per cent. These rates will take effect from August 24, 2017. UNI