Indian Bank revises FCNR (B) interest rates
Chennai: Indian Bank on Wednesday announced revision of its interest rates for foreign currency non-resident (banking) deposits with immediate effect.
For FCNR(B) deposits, in USD terms, the revised interest rates has been fixed at 2.63 percent for deposits of one year and above but less than two years compared to the existing 2.67 percent, the city-based public sector bank said in a statement.
For deposits of two years and above but less than three years, interest rates have been revised to 2.48 percent from the existing 2.57 percent, it said.
Interest rates have been revised to 4.77 percent from the existing 4.95 percent for deposits of three years and above but less than four years.
For deposits of four years and above but less than five years, interest rates have been fixed to 5.16 percent from the existing 5.38 percent.
The interest rates have been fixed to 5.53 percent from the existing 5.77 percent for deposits of up to five years, the statement added.
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