United Bank cuts term deposit rates

Here is the beginning of my post. And here is the rest of it.United Bank of India has announced downward revision of interest rates on domestic term deposits of certain maturities. With effect from November 19, the rate of interest on term deposit for three years to less than five years will be 8.75 per cent compared with nine per cent previously and for five years and above, the revised rate will be 8.5 per cent (8.75 per cent). The rates of interest in respect of term deposits of other maturities however will remain unchanged.