IOB FD Rates: Indian Overseas Bank (IOB), one of the leading public sector lenders, increased interest rates on fixed deposits under ₹2 crore. According to the bank’s official website, the revised rates are in effect as of 10.11.2022. Following the adjustment, the bank increased interest rates on select tenors by up to 60 bps. The bank is now offering interest rates between 3.60% and 6.40% on FDs with maturities ranging from 7 days to 3 years and above. Deposits maturing in 444 Days and 3 Years and above, IOB is now offering a maximum interest rate of 6.40% for the general public, 6.90% for senior citizens and 7.15% for super senior citizens.
Indian Overseas Bank (IOB) FD Rates
The bank will continue to give an interest rate of 3.60% on FDs maturing in 7 days to 45 days, while IOB has increased the interest rate on FDs maturing in 46 to 90 days by 10 basis points, from 3.75% to 3.85%. IOB has hiked the interest rate by 10 bps from 4.10% to 4.20% on FDs maturing in 91-179 Days and the bank has hiked the interest rate by 20 bps from 4.65% to 4.85% on FDs maturing in 180-269 Days. Deposits maturing in 270 Days to 1 Year will now fetch an interest rate of 5.25% which was earlier 4.65% a hike of 60 bps and those maturing in 1 Year to 2 Years (Except 444 Days) will now fetch an interest rate of 6.30% which was earlier 5.70% a hike of 60 bps.
The bank increased the interest rate on FDs maturing in 444 days by 55 basis points from 5.85% to 6.40%, while IOB increased the interest rate on FDs maturing in 2 years to 3 years (except 1000 days) by 60 basis points from 5.70% to 6.30%. The bank is now providing a regular interest rate of 6.40% on fixed deposits maturing in three years or more.
IOB Tax Saver Deposit shall be at 6.40% for the general public, 6.90% for senior citizens and 7.15% for super senior citizens. “For Senior Citizens Additional Rate of 0.50% and for Super Senior Citizens (aged 80 years and above) Additional Rate of 0.75% continues,” mentioned Indian Overseas Bank (IOB) on its website.
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