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Chennai, July 7

Indian Overseas Bank has increased interest rates on NRE deposits. The bank is offering 5.43 per cent for deposits between one year and three years (as against the existing rates of 5.39 for deposits between one and two years and 5.32 for between two and three years). In a press release, the bank said it would pay 5.46 per cent on deposits between three and five years, against 5.3 per cent now. —

Our Bureau

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