BUSINESS

IOB hikes deposit rates

CHENNAI: Indian Overseas Bank has hiked the interest rates on domestic and NRO term deposits with effect from November 29. The new rates are: 3.50 per cent for 7-14 days (applicable for deposits of Rs. 1 lakh and above), 4.75 per cent for 15-179 days, 5 per cent for 180-270 days, 5.25 per cent for 271 days to less than a year, 5.75 per cent for one year to less than three years and 6 per cent for three years and above, says a release.

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