Indian Overseas Bank increases deposit rates

Chennai based Public Sector Bank, Indian Overseas Bank has decided to increase the rates offered on term deposits up to 25 basis points.

Now the interest rate offered under term deposits has increased by 25 bps to 3.75% for 46 to 90 days, 5.40% for 1 year to less than 2 years (except 444 days) and 5.45% for 444 Days and 2 Years to less than 3 years. For term deposit above 3 years, interest rate has been increased by 15 bps to 5.60%.

Interest rate for IOB Tax Saver Deposit shall be 5.60%.

For Senior Citizens Additional Interest Rate of 0.50% and for Super Senior Citizens (aged 80 years and above) Additional Interest Rate of 0.75% will be applicable over and above the card rate.

Shares of Indian Overseas Bank was last trading in BSE at Rs. 17.25 as compared to the previous close of Rs. 17.20. The total number of shares traded during the day was 264058 in over 871 trades.

The stock hit an intraday high of Rs. 17.45 and intraday low of 17.05. The net turnover during the day was Rs. 4549696.00.

Source : Equity Bulls

Keywords

IndianOverseasBank INE565A01014 IOB InterestRates Revision TermDeposits