Public sector Indian Overseas Bank has revised its deposit rates upwards with immediate effect.
For the deposits ranging from seven to 29 days, it has been increased from 3.50% to 4.50%, a statement from the Chennai-based bank said.
For deposits that range between 30-90 days, the rates has been revised from 4% to 6.25% and for those between one and five years it has been raised from 8.75% to 9.25%, it said.
However, for senior citizens the additional interest rates has been fixed at 0.75%, it added.