BackIndian Bank revises interest rates for FCNR (B) deposits
The revised interest rate for FCNR (B) deposits, in dollar terms, has been fixed at 2.26% for deposits of one year and above but less than two years, from the existing 2.20%
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Chennai: State-run Indian Bank has revised its rates for foreign currency interest rates (banking) on term deposits with immediate effect.
As per the revised interest rate for foreign currency non-resident or FCNR (B) deposits, in dollar terms, the revised interest rate has been fixed at 2.26% for deposits of one year and above but less than two years, from the existing 2.20%.
For deposits of two years and above but less than three years, the interest rates were revised to 2.52% from 2.48%, the bank said in a statement.
Interest rates have been revised to 2.78% for deposits of three years and above, but less than four years from existing 3.19%.
For deposits of four years and above but less than five years, the interest rates were revised to 2.92% from existing 3.37%.
For deposits of up to five years, the interest rates were revised to 3.05% from existing 3.48%.
Shares of the bank were trading at Rs273.90 a piece up by 1.22% over previous close in afternoon BSE.
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