Indian Bank has revised rates in foreign currency non-resident (banking) deposits with immediate effect. For FCNR (B) deposits in dollar terms, the new rates remains unchanged at 2.58% for deposits of one year and above but less than two years. For deposits of two years and above, the interest rates has been revised to 2.50% from the 2.39%, said the bank.
IOB targets youth, starts connect card
Targetting young individuals, public sector Indian Overseas Bank launched Connect Card, a new ATM-cum-Debit card in association with VISA that can be used for e-commerce across five lakh merchant outlets. Though all IOB customers have been provided ATM cum Debit card, Connect Card is targeted at the younth between 10 and 28 years, the bank said.