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Indian Overseas Bank Revises Interest Rates

Press Trust of India

Public sector Indian Overseas Bank has revised interest rates on rupee retail term deposits up to 45 basis points with immediate effect, the city-headquartered bank said on Tuesday.
        
Accordingly, depositors of domestic, NRO (non-resident ordinary) and NRE (non-resident external) would receive interest rate up to 7.75 per cent by opening term deposits for a period of 444 days, Indian Overseas Bank said in a statement, here.
        
Indian Overseas Bank said the interest rate on foreign currency deposits have also increased by up to 100 basis points with effect from Tuesday.
         
Foreign currency non-resident banking depositors would receive interest rate up to 5 per cent by opening term deposits, the bank said.