Indian Overseas Bank hikes term deposit interest rates up to 45 bps

FCNR(B)/RFC depositors will get an interest rate up to 5 per cent on their term deposits

Indian Overseas Bank, IOB
According to the bank, domestic/NRO/NRE depositors will get interest rate upto 7.75 per cent on term deposit for a period of 444 days
IANS Chennai
1 min read Last Updated : Jan 09 2023 | 10:29 PM IST

Public sector Indian Overseas Bank on Monday announced a hike in the interest rates on rupees retail term deposits, up to 45 basis points, from Tuesday onwards.

According to the bank, domestic/NRO/NRE depositors will get interest rate upto 7.75 per cent on term deposit for a period of 444 days.

Interest Rate on Foreign currency deposits has also been increased upto 100 bps effective from January 10.

FCNR(B)/RFC depositors will get an interest rate up to 5 per cent on their term deposits.

--IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Topics :Indian Overseas BankIOBdeposit rates

First Published: Jan 09 2023 | 10:29 PM IST

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