Indian Overseas Bank revises interest rates with immediate effect

Public sector Indian Overseas Bank has revised the interest rates on its domestic, foreign currency non-resident (banking) term deposits with immediate effect, the city-based lender said on Saturday.

Depositors of domestic, non-resident external would receive interest rates up to 7.30 per cent by opening a term deposit with a tenure of 444 days and up to 7.25 per cent for a period of three years and above, Indian Overseas Bank said in a statement here. 

Foreign currency depositors shall be paid an interest rate up to 4.25 per cent by opening FCNR (B) term deposits with the bank, it said.