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Indian Bank raises FCNR (B), NRE rates

CHENNAI: Indian Bank has increased the interest rates on FCNR (B) and NRE deposits with effect from this month. According to a release, for FCNR (B) dollar deposits, the interest rate has been raised to 2.96 per cent from 2.46 per cent for deposits of one year and above but less than two years. Similarly, the rates for other maturities have also been raised. It has also hiked the NRE term deposit rates to 3.71 per cent for one year and above but less than two years. For other maturities also, the rates have been raised. — Corporate Reporter

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