Term Deposit Rate Hiked: Indian Overseas Bank, one of the leading public sector banks, has increased interest rates on retail term deposits of Rs by up to 45 bps with effect from January 10, 2023 i.e. today.
Domestic / NRO / NRE depositors will get an interest rate of up to 7.75% on term deposits with Indian Overseas Bank for a period of 444 days.
The interest rate on foreign currency deposits also increased by 100 bps with effect from January 10, 2023. FCNR (B) / RFC depositors will get an interest rate of up to 5.00% on term deposits with Indian Overseas Bank.
Shares of Indian Overseas Bank was last trading at Rs.30.85 on BSE as compared to the previous close of Rs.30.95. The total number of shares traded during the day stood at 4315287 in over 4148 trades.
The stock hit an intraday high of Rs 31.40 and an intraday low of Rs 30.70. The net turnover during the day was Rs.134119278.00.
This bank also increased the rates
Recently ICICI Bank which is one of the leading private sector lenders of the country. It has revised its interest rates on bulk fixed deposits from ₹2 crore to ₹5 crore. ICICI Bank is now offering interest rates ranging from 4.50% to 6.75% on deposit tenures ranging from 7 days to 10 years. Deposits maturing in 15 months to 2 years have a maximum interest rate of 7.15%.
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