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IOB raises NRE deposit rates

CHENNAI: Indian Overseas Bank has raised the interest rates on NRE term deposits for one year to less than two years by ten basis points with effect from September 1. The new rates valid for one month are: 4.80 per cent for one year to less than two years; 4.90 per cent for two years to less than three years and five per cent for three years to less than five years, says a release.

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