Fixed Deposit: IOB will give up to 0.60 percent extra interest on deposits, HDFC Bank increased by 0.35 percent
IOB said that the rates will increase from November 10. With this, domestic and non-resident depositors will get up to 7.15 per cent interest on deposits of 444 days, three years and above. Deposits of 270 days to one year and one year to three years will get 0.60 percent more interest.
Abhilasha 
Indian Overseas Bank (IOB) has announced a hike in interest rates on its retail fixed deposits by up to 0.60 per cent. HDFC Bank has increased the interest rate on fixed deposits (FDs) by 0.35 percent. Private sector bank has increased rates for the second time in 15 days.
IOB said that the rates will increase from November 10. With this, domestic and non-resident depositors will get up to 7.15 per cent interest on deposits of 444 days, three years and above. Deposits of 270 days to one year and one year to three years will get 0.60 percent more interest. At the same time, the new rates of HDFC Bank are applicable from November 7. After this, deposits of less than 2 crores for 15 to 18 months will get 6.50 percent interest instead of 6.15 percent.
Bank of Maharashtra made loans costlier by 0.10 percent
Bank of Maharashtra has increased the marginal cost of funds based interest rate (MCLR) by 0.10 per cent for various tenors. The new rate is applicable from 7 November. The bank said that the one-year tenor MCLR has been increased from 7.80% to 7.90 percent. The one-month tenor MCLR has been increased by 0.05 points to 7.50 per cent. However, there has been no change in the rates of loans of one day and three and six months.
