Chennai, June 11: Indian Overseas Bank (IOB), a public sector bank, has announced an upward revision in interest rates for its domestic Non-Callable Fixed Deposits. The decision was finalized during the bank’s recent Asset-Liability Committee (ALCO) meeting to align with changing market conditions. The new rates offer better yields across select medium-term tenures, including the popular 444-day period, and will come into effect immediately from today, June 11, 2026.
Non-Callable Fixed Deposits are specialized accounts designed for savers and depositors who commit to keeping their funds with the bank until maturity without making early withdrawals, in exchange for premium returns.
Following the ALCO directive, the bank has implemented a 10 basis points (0.10%) interest rate hike across three specific time frames. Regular fixed deposits (that allow early withdrawal), NRO accounts, and NRE term deposits remain entirely unchanged.