BUSINESS

IOB raises deposit rates

Indian Overseas Bank has increased the deposit rates by 50 basis points for maturities of one year and above. For one year to less than two years, the rate will be 7 per cent. It will be 7.25 per cent for two to three years and 7.50 per cent for more than three years. For senior citizens the rates will be 75 basis points more with interest rates for the above maturities fixed at 7.75 per cent, 8 per cent and 8.25 per cent respectively, says a release. — Corporate Reporter

Recommended for you