Indian Bank revises interest rates on FCNR deposits
Chennai: Public sector Indian Bank has revised the interest rates on foreign currency non-resident banking deposits with immediate effect.
For FCNR (B) deposits, in USD terms, the interest rate has been fixed at 2.44% for deposits of one year and above but less than two years from the existing 2.45%.
“For deposits of two years and above but less than three years, interest rates have been fixed at 2.56% from existing 2.60%,” the city-based bank said in a release.
Interest rates for deposits of three years and above but less than four years, have been revised to 2.67% from existing 2.75%.
For deposits of four years and above but less than five years, the interest rates have been revised to 2.75% from current 2.86%.
For deposits of up to five years, the interest rates have been fixed at 2.84% from existing 2.96%, the release added.
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