IDBI hikes NRE and FCNR rupee term deposits

New Delhi, June 15 (UNI) Close on the heels of PNB, SBI and Indian Bank raising their interest on non-resident external (NRE) deposit scheme, Industrial Development Bank of India Limited (IDBI) today followed suit by revising the interest rate to 5.39 per cent.

The NRE rupee deposit rate of 5.39 per cent is for one year to less than two years and 5.32 per cent for two years to less than three years and 5.30 per cent for three years, IDBI said in a statement.

The bank also hiked its interest rates on Foreign Currency Non-Resident (B) Deposit Scheme (FCNR) denominated in dollars, to 4.64 per cent for deposits in the one year to less than two years maturity bucket.

For two years to less than three years the interest is 4.57 per cent and 4.55 per cent for three years to less than four years.

UNI