The revised rate would be valid for one month, an IOB release said in Chennai on Saturday.
The new rates are 4.40 per cent for deposits for one year to less than two years, 4.80 per cent for two years to less than three years and five per cent for three years to less than five years, it said.
IOB has also revised the interest rate on NRE savings bank to 3.40 per cent, effective from Friday, which would be valid for three months, it said.
© 2026