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Indian Bank hikes FCNR (B) and NRE rates

CHENNAI: Indian Bank has hiked the interest rates on NRE and FCNR (B) rates. For NRE term deposits, the rise ranges between 4-10 basis points for different maturities. For FCNR (B) deposits, the rise is to the maximum of 10 basis points for U.S. dollar, 20 basis points for British Pound and 17 basis points for Euro. For FCNR (B) deposits, the revised interest rate has been fixed at 5.34 per cent for deposits of one year above but less than two years, 5.17 per cent for two years and above but less than three years, 5.11 per cent for three years and above but less than five years and 5.12 per cent for five year deposits.

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