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IOB hikes interest rates on NRE deposits

BL Research Bureau

Indian Overseas Bank has hiked the interest on non-resident (external) — NRE — term deposits for one year to less than two years by 10 basis points effective from June 1. The new rates valid for one month up to June 30, are 4.3 per cent for one year to less than two years; 4.5 per cent for two years to less than three years; and 4.6 per cent for three years to less than five years.

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