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IOB raises deposit rates

CHENNAI: Indian Overseas Bank has raised Interest rates on deposits with effect from December 13. The new rates are: for 7-14 days 3.50 per cent (3 per cent), for 15-29 days 4.50 per cent (3.50 per cent), for 91-120 days 6 per cent (4.50 per cent), for 121-179 days 7 per cent (5.50 per cent), for 180-269 days 7.25 per cent (6.75 per cent), for 270-332 days 7.50 per cent (6.75 per cent) for 334 days- one year 7.50 per cent (6.75 per cent). and for 1 year to 554 days 8.25 per cent (7.25 per cent). The bank has also raised rates for other maturities. Senior citizens will get an extra interest of 75 basis points, says a bank release.

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