Business - Briefly

IOB hikes NRE term deposit rates

CHENNAI: Indian Overseas Bank (IOB) has revised interest rates on NRE term deposits with effect from November 16. The bank is now offering 4.92 per cent as against 4.17 per cent for deposits of one year to less than two years. For two years to less than three years, the rate will be 4.41 per cent (3.66 per cent) and for three years to less than five years it will be 4.89 per cent (4.14 per cent), says a press release. — Corporate Reporter

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