Indian Overseas Bank trims FD charges by 40 bps; Check newest charges right here

Government-owned Indian Overseas Bank (IOB) has lowered its mounted deposits rates of interest beneath ₹2 crore on short-term tenures beneath 1 12 months. The new charges are set to return into impact from April 11.

From Monday, IOB will supply a 3% rate of interest on deposits made for from 7 days to 45 days tenures. Currently, the speed right here is 3.4%. 

Further, 3.5% can be supplied on 46 days to 90 days tenure from the present 3.90%.

A 4% charge every can be relevant on tenures 91 days to 179 days from the present 4.4%, whereas, 4.5% is about on 180 days to lower than 1-year tenures from the current 4.90%.

Meanwhile, the financial institution will proceed to supply a 5.15% charge on 1 Year to lower than 2 Years tenure (besides 444 days). The rate of interest on 444 days tenure is 5.20%, whereas the identical is obtainable on 2 Years to lower than 3 Years tenue. The highest charge is 5.45% which is stored unchanged for 3 Years and Above tenure.

The minimal quantity for mounted deposits is ₹1 lakh.

For Senior Citizens, the financial institution presents an extra charge of 0.50% and for Super Senior Citizens (aged 80 years and above) further charge of 0.75% continues.

Also, the rate of interest for IOB Tax Saver Deposit will proceed to be at 5.45%.

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