Indian Overseas Bank is one of the leading banks in India. The product portfolio of Indian Overseas Bank is divided broadly into savings bank, current account, retail products, IOB card products, third party insurances and term deposits. All these services are the product strategy in the bank’...
Final interest rate = MCLR(marginal cost of fund lending rate) + Interest rate - discounts Let's consider a scenario where MCLR is 2.25% (general MCLR rate) and the interest rate paid to the bank is 8.55%, in addition to that we'll have some additional interest rate over other expense...