Public sector Indian Overseas Bank has revised interest rates on rupee retail term deposits up to 45 basis points with immediate effect, the city-headquartered bank said on Tuesday.
Accordingly, depositors of domestic, NRO (non-resident ordinary) and NRE (non-resident external) would receive interest rate up to 7.75 percent by opening term deposits for a period of 444 days, Indian Overseas Bank said in a statement, here.
Indian Overseas Bank said the interest rate on foreign currency deposits have also increased by up to 100 basis points with effect from Tuesday.
Foreign currency non-resident banking depositors would receive interest rate up to 5 percent by opening term deposits, the bank said.
(Edited by : Anushka Sharma)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Telangana CM violated poll code, defer Rythu Bharosa payment, says Election Commission
May 7, 2024 9:01 PM
Lok Sabha Election 2024: How Indian political parties are leveraging AI
May 7, 2024 6:59 PM