IOB hikes interest rates on deposits

Hyderabad: State owned Indian Overseas Bank (IOB), said that it has hiked the interest rates on domestic/NRO/NRE and FCNR(B) term deposits. The hike will come into effect from 10 December, 2022. The domestic/NRO/NRE depositors will get interest rate up to 7.30 per cent by opening term deposit with Indian Overseas bank for a period of 444 days and up to 7.25 per cent for a period of 3 years and above. Foreign currency depositors shall be get interest rate up to 4.25 per cent by opening FCNR(B)/ RFC term deposits with Indian Overseas Bank.