The interest rate on term deposits is increased by Indian Overseas Bank

With effect from Saturday, Indian Overseas Bank (IOB) increased the interest rates on domestic, NRO, NRE, and FCNR(B) term deposits. 

For periods of 444 days and longer, interest rates of up to 7.3% and up to 7.25%, respectively, would be applicable. According to a statement from the public sector lender, it was previously 6.4% for both groups. 

According to the lender, interest rates on FCNR(B)/resident foreign currency term deposits with the bank may reach 4.25%.

This news is written by Ms. Pujari Dharani, Research Assistant, All India Legal Forum.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this:
search previous next tag category expand menu location phone mail time cart zoom edit close