Indian Bank revises interest rates on foreign currency: Media Report

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Indian Bank revises interest rates on foreign currency: Media Report
Indian Bank has revised the interest rates on foreign currency non-resident (banking) term deposits with immediate effect, reported PTI. The interest rates for deposits (in US dollar terms) of one year and above but less than two years will be 2.55 per cent from the existing 2.57 per cent, the Chennai-based bank said in a statement.

For deposits of two years and above but less than three years, the rates remain unchanged at 2.47 per cent, it said. Interest rates on term deposits of three years and above but less than four years have been marginally reduced to 3.82 per cent from the current 3.83 per cent.

For deposits of four years and above but less than five years, interest rates have been revised to 4.23 per cent from the existing 4.24 per cent, it said. For deposits of up to five years, the interest rates remain unchanged at 4.62 per cent, statement added.

Dion Global Solutions Ltd.

Story first published: Monday, March 3, 2014, 9:23 [IST]
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