Indian Overseas Bank (IOB), one of the top public sector lenders, has raised interest rates on fixed deposits of less than Rs 2 crore. According to the official website of the bank, the new rates are effective from December 10. The bank increased FD rates for a range of tenors in response to changes of up to 20 basis points (bps). On deposits maturing in the next seven days to three years and beyond, the bank is now offering interest rates ranging from 3.75% to 6.50%.
The bank raised the interest rate on deposits maturing in the next 7 to 45 days by 15 bps to 3.75% from 3.60%. IOB raised interest rate on deposits maturing in next 46 to 90 days by 20 bps to 4.05% from 3.85%. The bank offers an interest rate of 4.20% on fixed-rate loans (FDs) with maturities of 91-179-days, 4.85% on deposits of 180-269-days and 5.25% on maturities of 270-days to one year Will continue to offer the rate.
Deposits maturing in 1 to 2 years (beyond 444 days) will now earn an interest rate of 6.40%, up 10 basis points from the previous rate of 6.30%, while those maturing in 444 days will now earn 6.55 interest rate will be earned. %, an increase of 15 basis points over the previous rate of 6.40%. On deposits of 2 years to less than 3 years (except 1000 days) and 3 years and above, IOB increased interest rates by 10 basis points, from 6.30% to 6.40% and 6.40% to 6.50%, respectively.
The additional rate of 0.75% will be applicable for very senior citizens (80 years and above) and the additional rate of 0.50% for senior citizens will continue. For the September-end quarter, IOB registered 59.52 lakh users for mobile banking, 23.82 lakh for internet banking, 63.04 lakh for UPI, 2389 kiosks for printing passbooks, 15 Bank on Wheels and a total of 3214 home branches. informed of. and 2228 BC.
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