Indian Bank Revises Interest Rates on Foreign Currency Non-Resident Deposits

Chennai: Indian Bank has revised interest rates in foreign currency non-resident (banking) deposits with immediate effect.

For FCNR (B) deposits, in dollar, the revised interest rate has been fixed at 1.75 per cent for deposits of one year and above, but less than two years from the existing 1.74 per cent, a statement by the public sector bank said.

For deposits of two years and above but less than three years, interest rate was revised to 1.86 per cent from existing 1.84 per cent.

Interest rate was increased to 2.47 per cent for deposits of three years and above but less than four years, from existing 2.44 per cent.

For deposits of four years and above, but less than five years, the interest rate was increased to 2.61 per cent from existing 2.52 per cent.

Interest rate was fixed at 2.72 per cent for deposits of five years from existing 2.65 per cent, it said.

Chennai: Indian Bank has revised interest rates in foreign currency non-resident (banking) deposits with immediate effect.

For FCNR (B) deposits, in dollar, the revised interest rate has been fixed at 1.75 per cent for deposits of one year and above, but less than two years from the existing 1.74 per cent, a statement by the public sector bank said.

For deposits of two years and above but less than three years, interest rate was revised to 1.86 per cent from existing 1.84 per cent.

Interest rate was increased to 2.47 per cent for deposits of three years and above but less than four years, from existing 2.44 per cent.

For deposits of four years and above, but less than five years, the interest rate was increased to 2.61 per cent from existing 2.52 per cent.

Interest rate was fixed at 2.72 per cent for deposits of five years from existing 2.65 per cent, it said.