Indian Overseas Bank reduces fixed deposits rates by 40 bps; Check latest rates

An interest rate of 3 % for maturity periods 30 days to 45 days and for a maturity period of 121 days to 179 days, the bank will give an interest rate of 4%. On FDs maturing in 270 days to less than 1 year, the interest rate is 4.5%
Indian Overseas Bank

Indian Overseas Bank

KEY HIGHLIGHTS
  • Indian Overseas Bank (IOB) has reduced the interest rates on the short term deposits (below Rs 2 crores on short-term tenures below 1 year) by 40 basis points with effect from April 11.
  • The minimum amount for fixed deposits is ₹1 lakh. For Senior Citizens, the bank offers an additional rate of 0.50%, and for Super Senior Citizens (aged 80 years and above) additional rate of 0.75% continues.
Public sector lender Indian Overseas Bank (IOB) has reduced the interest rates on the short term deposits (below Rs 2 crores on short-term tenures below 1 year) by 40 basis points with effect from April 11.
From tomorrow, the bank will offer a 3% interest rate on fixed deposits made for from 7 days to 45 days tenures instead of the current rate of 3.4%.
An interest rate of 3 % for maturity periods 30 days to 45 days and for a maturity period of 121 days to 179 days, the bank will give an interest rate of 4%. On FDs maturing in 270 days to less than 1 year, the interest rate is 4.5%
Revision in Interest Rates on Domestic / NRO / NRE Retail Term Deposits. w.e.f. 11.04.2022
7 days to 14 days- 3.00 per cent
15 days to 29 days- 3.00 per cent
30 days to 45 days- 3.00 per cent
46 days to 60 days- 3.50 per cent
61 days to 90 days- 3.50 per cent
91 days to 120 days- 4.00 per cent
121 days to 179 days- 4.00 per cent
180 days to 269 days- 4.50 per cent
270 days to <1 year- 4.50 per cent
1 Year to < 2 Years- (Except 444 Days) 5.15
444 days- 5.20
2 Years to < 3 Years- 5.20 per cent
3 Years and Above- 5.45 per cent
The minimum amount for fixed deposits is ₹1 lakh. For Senior Citizens, the bank offers an additional rate of 0.50%, and for Super Senior Citizens (aged 80 years and above) additional rate of 0.75% continues. The interest rate for IOB Tax Saver Deposit shall continue to be at 5.45%.
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