Indian Bank revises interest rates

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

For Foreign Currency Non Resident (FCNR) Banking deposits in US Dollar, the interest rates have been revised to 2.63 per cent for deposits of one year and above, but less than two years from the existing 2.54 per cent.

Interest rates have been revised to 2.80 per cent for deposits of two years and above, but less than three years from the existing 2.71 per cent, the city-based bank said in a statement.

For deposits of three years and above but less than four years, the interest rates have been revised to 2.96 per cent from the current 2.88 per cent.

Interest rates have been revised to 3.05 per cent from the existing 2.95 per cent for deposits of four years and above but less than five years.

For deposits of upto five years, the interest rates have been fixed to 3.14 per cent from existing 3.02 per cent, the statement added.

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