Indian Overseas Bank has increased Foreign Currency Deposit Interest Rates  

India, 16.10.2023: Indian Overseas Bank (IOB) has increased interest rate on Foreign Currency deposits. 

For USD denominated deposits, under FCNR and RFC schemes, IOB is offering 5.65% for tenor of 1 year. For USD deposits of more than one year to less than two years’ tenor the bank’s interest rate is 5.50 %  

Similarly, for Euro and GBP denominated deposits of one year to less than two years’ period, the bank has increased the interest rate to 2.50 % and 5.00 % respectively.  

This revision is effective from 15^th October 2023.