IOB to raise interest rates on deposits by 10 bps

Our Bureau | Updated on: Aug 08, 2022

CHENNAI, TAMILNADU, 24/03/2022 : A view of the Indian Overseas Bank, Anna Salai in Chennai on Thursday. Photo. Ragu R / The Hindu | Photo Credit: RAGU R

Revised rates are effective from Wednesday

Chennai-based public sector lender Indian Overseas Bank will increase the interest rates offered on medium and long-term deposits by 10 basis points.

Now, the interest rates offered under term deposits for 3 years and above will be 5.70 per cent and for 444 days will be 5.60 per cent.

The revised rates are effective from August 10, according to a statement.

Published on August 08, 2022
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