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Indian Bank revises FCNR (B), NRE rates

CHENNAI: Indian Bank has revised the interest rates on FCNR (B) and NRE deposits with effect from October 1. According to a bank release, the rate for FCNR (B) deposits in U.S. dollar has been fixed at 4.15 per cent for one year and above but less than two years against 4.53 per cent. The rates for other maturities have also been reduced. The rates for NRE term deposits of different maturities have also been reduced. — Corporate Reporter

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