Indian Overseas Bank to revise rates on retail term deposits from Thursday

Public sector Indian Overseas Bank would increase the interest rates on its retail term deposits up to 60 basis points with effect from November 10, the city-based bank said on Wednesday.

With the revision in interest rates, domestic and non-resident depositors would get a hike of up to 7.15 per cent for deposits with period of 444 days, three years and above.

Term deposits for tenure of 270 days to one year and one year to three years, the interest rates have been increased by 60 basis points, the bank said in a statement here.