Public sector lender Indian Overseas Bank (IOB) slashed interest rates on fixed deposits. 2 crores. The bank’s website states that the new interest rates will be effective from July 12, 2022. After the revision, the bank has increased the interest rates on fixed deposits from 1 year to less than 2 years and maturities of 444 days.
IOB FD Rates 2022
The bank will continue to offer 3 per cent interest rate on deposits maturing in 7 to 45 days and 3.75 per cent interest rate on fixed deposits maturing in 46 to 90 days. Fixed deposits with maturities between 91 and 179 days will continue to pay interest at the rate of 4%, while fixed deposits with maturities of 180 and less than one year will continue to generate interest at the rate of 4.50 per cent.
Bank has increased the interest rate from 5.40% to 5.45% on deposits maturing in less than 2 years except 444 days and IOB increased the interest rate from 5.45% to 5.50% on deposits maturing in 444 days Done. , Also, the interest rate on IOB’s tax saver deposit will remain the same at 5.60 percent. IOB will continue to offer an interest rate of 5.45 per cent on deposits of 2 to 3 years and 5.60 per cent on deposits of 3 years and above. “The additional rate of 0.50% for senior citizens and 0.75% for super senior citizens (aged 80 years and above) continues,” IOB mentioned on its website.
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tomorrow, IOB Also increased the marginal cost of funds based lending rate (MCLR) by 10 bps for all tenors. The new rates, which are in the range of 6.95 to 7.55 per cent, will be effective from July 10. On 1 year MCLR which is generally linked to home loan, personal loan, car loan etc., the bank has increased the rate from 7.45 per cent to 7.55 per cent and thus the hike in MCLR will result in higher EMI if you use the existing one. Is a borrower of the bank.