Chennai: – Indian Overseas Bank increases interest rates on deposits. Chennai based public sector bank, Indian Overseas Bank, decided to increase the interest rates offered on the medium-term deposits by 05 basis points. Now the interest rates offered under term deposits above 1 Year to less than 2 Years will be 5.45% and for 444 days will be 5.50%.
Further, the bank has increased the interest rate on NRE Term Deposits by 10 bps across all tenors. The revised interest rates are in the range of 5.50% to 5.70%.
The revised rates are effective from 12.07.2022.
