Indian Overseas Bank hikes interest rates on fixed deposits: Details inside

IOB FD Rates 2022

The bank will continue to offer 3.0 per cent interest rate on fixed deposits maturing in 7 days to 45 days and 3.75 per cent interest rate on fixed deposits maturing in 46 days to 90 days. Also, the bank will continue to offer an interest rate of 4.50 per cent on fixed deposits maturing in from 180 days to less than one year. IOB will continue to offer an interest rate of 4.00 per cent on deposits maturing in 91 days to 179 days. Fixed deposits with maturities of 1 year and less than 2 years (excluding 444 days) will continue to have an interest rate of 5.45 per cent, while fixed deposits with maturities between 444 days and 2 years will now offer an interest rate of 5.60 per cent. Will go , above 5.50 per cent and an increase of 10 basis points. Fixed deposits maturing in 2 years to less than 3 years will continue to offer an interest rate of 5.45% and fixed deposits maturing in 3 years and above will now be offered an interest rate of 5.70% as against an increase of 5.60% 10 earlier Was. The interest rates for BPS IOB Tax Saver Deposit will be 5.70 percent, 0.50 percent extra for senior citizens and 0.75 percent extra for super senior citizens (80 years and above).

The increase in IOB’s fixed deposit interest rates came after the Monetary Policy Committee of the Reserve Bank of India raised the repo rate by 50 basis points to 5.40 per cent. Lenders are raising interest rates on their loan and fixed deposit products as a result of the increase in the repo rate. Canara Bank And Bandhan Bank are two examples of the same. Canara Bank hikes interest rates on fixed deposits of less than Rs. 2 crore, and the new interest rates are effective from August 8, 2022. On the other hand, Bandhan Bank The increased interest rates on savings accounts, and the new interest rates are effective from August 8, 2022. federal bank The interest rates on your savings account have also increased. In contrast, ICICI Bank, Canara Bank, HDFC bankPNB and Bank of Baroda have increased their External Benchmark Lending Rates,

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