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
COMMENTS
  1. Comments will be moderated by The Hindu BusinessLine editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.

You May Also Like

Recommended for you