Indian Bank Revises Interest Rates

Public sector Indian Bank has revised interest rates on foreign currency non-resident (banking) deposits with immediate effect.

For FCNR (B) deposits, in USD, the revised interest rate has been fixed at 2.77 per cent for deposits of one year and above but less than two years from the current 2.63 per cent.

For deposits of two years and above but less than three years, the interest rate has been fixed at 2.92 per cent from the existing 2.80 per cent, the city-based bank said in a release. Interest rates has been revised to 3.08 per cent for deposits of three years and above, but less than four years from existing 2.96 per cent.

For deposits of four years and above but less than five years, the interest rate has been revised to 3.15 per cent from existing 3.05 per cent. Interest rates were fixed at 3.20 per cent for deposits of upto five years from the current 3.14 per cent, the release added.

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