IOB said that Interest rate for Senior Citizen aged 60 and above, will fetch an additional Interest rate of 0.50 percent.
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New Delhi: Public sector lender Indian Overseas Bank (IOB) has revised the interest rates on its Fixed Deposits for For Deposits below Rs 2 Crore. While the bank has increased the interest rate on FDs from 1 Year to < 2 Years
(Except 444 Days) by 30 basis points, it has slashed the interest rates on 444 Days FD by 15 basis points.
Indian Overseas Bank said that Domestic, NRO Deposits & NRE Deposits have been revised with effect from 15 November 2023
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| Period of Deposit | Existing Rates For Deposits below Rs. 2 Crore w.e.f. 10.04.2023 (in %) | Revised Rates For Deposits below Rs. 2 Crore w.e.f. 15.11.2023 (in %) |
|---|---|---|
| 7-14 Days* | 4.00 | 4.00 |
| 15-29 Days | 4.00 | 4.00 |
| 30-45 Days | 4.25 | 4.25 |
| 46-60 Days | 4.25 | 4.25 |
| 61-90 Days | 4.25 | 4.25 |
| 91-120 Days | 4.50 | 4.50 |
| 121-179 Days | 4.50 | 4.50 |
| 180-269 Days | 4.95 | 4.95 |
| 270 Days to < 1 Year | 5.35 | 5.35 |
| 1 Year to < 2 Years (Except 444 Days) | 6.50 | 6.80 |
| 444 Days | 7.25 | 7.10 |
| 2 Years to < 3 Years | 6.80 | 6.80 |
| 3 Years and Above | 6.50 | 6.50 |
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IOB said that Interest rate for IOB tax Saver shall continue to be at 6.50 percent. For Senior Citizen (aged 60 and above), additional Interest rate of 0.50 percent and for Super Senior Citizens (aged 80 years and above), additional Rate of 0.75 percent continues, the bank added.
For Retired Staff, applicable interest rate will continue to be governed by guidelines issued vide Planning Department Circular no. Dep/54/2019-20 dated 21.12.2019, it said.
