IOB hikes deposit rates

Source :BL :Madurai:27-12-2010

 Indian Overseas Bank has raised the interest rates on deposits across various maturities.

According to a press release here, for seven to 17 days,

 the rate has been raised from three per cent to 3.5 per cent;

 for 15 to 29 days from 3.5 per cent to 4.5 per cent;

 for 91 to 120 days, from 4.5 per cent to six per cent;

 for 121 days to 179 days, from 5.5 per cent to seven per cent;

 for 180 to 269 days, from 6.75 per cent to 7.25 per cent; 

and for three years to five years, the rate has been

 hiked from 7.75 per cent to 8.25 per cent. 

For senior citizens, a 0.75 per cent extra interest rate

 would be given. 

The maximum limit for senior citizens

 under the special deposit scheme is Rs 25 lakh.