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Union Bank hikes NRE deposit rates

Our Bureau

MUMBAI: Union Bank of India has hiked interest rates on Non-Resident External Deposits by up to 12 basis points across maturities, effective from Friday. The rates on NRE deposits with a maturity of 1-2 years have been increased to 3.60 per cent from 3.48 per cent previously; for 2-3 years, it has been raised to 3.95 per cent (3.92 per cent); and for 3 years and above, it is now 4.20 per cent (4.18 per cent), according to a press release.

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