Indian Overseas Bank has raised deposit rates over various maturities. Earlier the bank revised the deposit rates on 13th December, this is the second time in the month that the bank has raised fixed deposit rates.
The rate has been raised from 3 to 3.5 percent for a deposit of seven to seventeen days. That of 15 to 29 days has been raised 4.5% from 3.5%. for 91 to 120 days now the rate is 6% earlier it was 4.5%. a few more changes have also been amended in the interest rates by the bank. The bank is providing an extra of 0.75% to the senior citizens on all the term deposits.
