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IOB revises interest rates on term deposits

CHENNAI: Indian Overseas Bank (IOB) has made an upward revision of interest rates on domestic and NRO term deposits by 25 to 50 basis points for maturity periods of one year and above from January 23. The revised rates are: 6 per cent for 1 year to less than 2 years, 6.25 per cent for 2 years to les than 3 years, 6.5 per cent for 3 years to less than 5 years and 6.75 per cent for 5 years and above, says a bank release.

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