Indian Overseas Bank (IOB) has raised interest rates on domestic/NRO/NRE and FCNR(B) term deposits with effect from Saturday.
Interest rates applicable would be up to 7.3% for 444 days and up to 7.25% for a period of three years & above. Earlier it was 6.4% for both the categories, the public sector lender said in a statement.
Foreign currency depositors shall be paid interest rate up to 4.25% for FCNR(B)/ resident foreign currency term deposits with the bank, the lender said.
