Indian Bank, country’s public sector lender has changed its Foreign Currency Non-Resident (Banking) and Non-Resident (External) term deposit rates with immediate effect.
The bank has increased FCNR (B) deposits in dollar terms to 2.32% for deposits of one year and above, but less than two years from the existing 2.19%. For two-years and above but less than three years, the interest rates have been changed to 2.01% from the existing 1.86%. For deposits of three years and above but less than four years, it has been increased to 2.14 % from the present 2.02%.
For deposits of four years and above but less than five years, it is changed to 2.35% from the existing 2.30%. For deposits of up to five years, it has been changed to 2.62% from the existing 2.59%.
On Non-Resident (External) deposits, the changed interest rates for one year and above but less than two years has been fixed at 3.82 % from 3.69 %, for those deposits of up to two years and above but less than three years it is revised to 3.51 % from the existing 3.36 %. For deposits of three years and up to five years it has been changed to 3.64 % from the existing 3.52 %.
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