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Indian Bank hikes FCNR (B), NRE rates

CHENNAI: Indian Bank has hiked the interest rates on FCNR (B) and NRE deposits with effect from October 1. For FCNR (B) deposits in U.S. dollar, the revised rate has been fixed at 3.71 per cent for deposits of one year and above but less than two years against 2.96 per cent earlier. For NRE term deposits, the revised rate has been fixed at 4.46 per cent for one year and above but less than two years against 3.71 per cent, says a release. — Corporate Reporter

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