The Hindu Business Line : TMB hikes NRE, FCNR rates

Tamilnad Mercantile Bank (TMB) has hiked the interest rates on NRE term deposits by 10 basis points. The rate of interest on NRE term deposits for one year to three years is 6 per cent with effect from April 1. The bank has also hiked the interest rates on its Foreign Currency Non-Resident (Bank) deposits. The bank has hiked interest rate up to 20 basis points for US dollar and 10 basis points for Australian dollar on various maturity periods, according to a TMB press release.

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