IOB increases Interest Rates on Deposits from July 12, 2022

Chennai based public sector bank, Indian Overseas Bank, decided to increase the interest rates offered on the medium term deposits by 05 basis points. Now the interest rates offered under term deposits above 1 Year to less than 2 Year will be 5.45% and for 444 days will be 5.50%.

Further, the bank has increased the interest rate on NRE Term Deposits by 10 bps across all tenors. The revised interest rates are in the range of 5.50% to 5.70%.

The revised rates are effective from 12.07.2022.

Shares of Indian Overseas Bank was last trading in BSE at Rs. 17.70 as compared to the previous close of Rs. 17.85. The total number of shares traded during the day was 255339 in over 1366 trades.

The stock hit an intraday high of Rs. 18.20 and intraday low of 17.65. The net turnover during the day was Rs. 4579255.00.

Source : Equity Bulls

Keywords

IndianOverseasBank INE565A01014 IOB InterestRate Revision Increase