Union Bank revises savings bank deposit rates

Mumbai: State-run Union Bank of India today said it has reduced savings bank interest rates by 0.5 per cent to 3.5 per cent on deposits up to Rs 25 lakh.

For deposits above Rs 25 lakh, the rate has been left unchanged at 4 per cent per annum, the bank said in a statement.

The new rate will be applicable from August 21.