According to the IOB website, the updated rates are effective from January 10, 2023. The bank has hiked interest rates on 444-day special tenure FDs by 45 basis points.
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Public sector lender Indian Overseas Bank (IOB) Interest rate hiked on FDs below Rs 2 crore (FD Rate Increase) According to the bank’s official website, the updated rates are effective from January 10, 2023. Bank has 444 days Interest rates on special tenure FDs An increase of 45 basis points. The bank did not change the interest rate for the rest of the period. Indian Overseas Bank (IOB) is now offering a maximum interest rate of 7 percent for 444 days.
Bank FD Rate
- Bank will continue to offer 4.50 percent interest rate on FD for next 7-45 days.
- IOB is offering 4.75 percent interest rate on FD for next 46-90 days.
- IOB is offering 4.20 percent interest rate on 91 to 179 days FD.
- 180 to 269 days FD will continue to pay 4.85 percent interest rate.
- From 270 days to one year, the interest rate on FDs will be 5.25 percent.
- The interest rate for FDs of one year to two years (excluding 444 days) will be 6.40 percent.
- On 444-day special FDs, the bank hiked the interest rate by 45 bps to 7 percent from 6.55 percent.
- IOB will continue to offer an interest rate of 6.40 percent on 2-year to 3-year FDs.
- The interest rate for FDs of three years and above will be 6.50 per cent.
- General public will get interest at the rate of 6.50 percent on IOB tax saver deposits, while senior citizens will get interest at the rate of 7 percent.
- IOB is still promising an additional interest rate of 0.50 percent or 50 bps over the regular rate for senior citizens.
- Super senior citizens aged 80 years and above will get an additional interest rate of 0.75 percent.
- BOI hiked interest rates on special FDs below Rs 2 crore with a 444-day bucket from January 10, 2023.
- The bank will now offer 7.05 percent interest to regular customers and 7.55 percent to senior citizens.