IOB hikes rates of interest for home time period deposits

Indian Abroad Financial institution (IOB) has launched a particular maturity interval of 1,000 days for home/NRO retail time period deposits at 6.50% rate of interest for senior residents.

For others, IOB will provide 6%. The minimal quantity of deposit is ₹1 lakh, the general public sector lender stated in an announcement.

For tremendous senior residents (aged 80 years and above) further fee of 0.75% is being provided.

IOB additionally raised rates of interest throughout all tenors of fastened deposits. As per the revised charges, time period deposits maturing from 7 days to three years or extra would earn rates of interest starting from 3.25% to five.85%.

By- The Hindu

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