Indian Bank, a public sector undertaking has hiked its NRE deposit rate. The revised rates are applicable with immediate effect.
For a maturity period of one-to-three years the rate has been increased to 9.50%. This rate of interest is applicable when the deposits are below Rs. 15 lakh. Deposits above Rs. 15 lakh and upto Rs. 5 crore for the same duration will attract an interest rate of 9.25%.
Leading lenders like State Bank of India, ICICI Bank, HDFC Bank, Federal bank and several others have also revised their NRE Deposit rates.