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Indian Bank Increases FCNR (B) rates
This has come even after rates on several small savings schemes have been lowered by 20 basis points.
With effect from January 1, 2018, Indian Bank has revised interest rates on FCNr or on foreign currency non-resident (banking) term deposits upwards.
Such deposits in dollar terms with maturity of one year or more but less than 2 years shall now fetch 2.77% while deposits of over 2 years and less then 3 years will offer a return of 3.08% as against 2.92% earlier.
This has come even after rates on several small savings schemes have been lowered by 20 basis points.
Goodreturns.in
Story first published: Wednesday, January 3, 2018, 15:18 [IST]