Indian Bank revises FCNR(B) deposit interest rates

Indian Bank revises FCNR(B) deposit interest rates Chennai: Indian Bank has revised its interest rates on foreign currency non-resident (banking) term deposits with immediate effect.

In USD terms, the revised interest rates for deposits of one year and above, but less than two years has been fixed at 2.70 percent from the existing 2.73 percent, the city-based public sector bank said in a statement said.

For deposits of two years and above but less than three years, the interest rate has been revised to 2.36 percent from the existing 2.43 percent.

The interest rates on deposits for three years and above but less than four years, has been revised to 3.45 percent from the existing 3.53 percent.

For deposits of four years and above but less than five years, the interest rate has been revised to 3.60 percent from existing 3.73 percent.

For deposits of up to five years, the interest rate has been fixed at 3.82 percent from existing 3.95 percent, the statement said.

PTI