Indian Bank revises interest rates

Chennai: Indian Bank has revised interest rates in foreign currency non-resident (banking) deposits with immediate effect.

For FCNR (B) deposits in USD terms, the revised interest rates remains unchanged at 2.58 per cent for deposits of one year and above but less than two years.

For deposits of two years and above but less than three years, the interest rates has been revised to 2.50 per cent from the existing 2.39 percent, a bank statement said.

Interest rates has been revised to 3.87 percent from existing 3.66 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 the interest rates has been revised to 4.33 percent from the existing 4.06 percent.

Interest rates has been fixed to 4.80 percent for deposits of up to five years from the existing 4.51 percent, the statement added.