The Hindu : Business / Briefly : IOB raises term deposit rates

Online edition of India's National Newspaper
Wednesday, Jan 24, 2007
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Business

Business - Briefly

IOB raises term deposit rates

CHENNAI: Indian Overseas Bank has, with effect from January 19, made upward revision of interest rates on term deposits. The bank is offering 8.50 per cent for deposits placed for 12 months to less than 24 months and 7.25 per cent for deposits for 271 days to less than 12 months for a limited period up to March 31, 2007. The Tax Saver Deposit scheme will now fetch an interest rate of 8.60 per cent for a minimum period of five years. Senior citizens will get one percentage point higher interest for deposits up to Rs. 15 lakh per individual, according to a release.

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