Indian Bank revises interest rates for FCNR(B) deposits
Chennai: Public sector Indian Bank has revised the interest rates on foreign currency non-resident banking, or FCNR(B), term deposits with immediate effect.
The city-headquartered bank has revised the FCNR(B) deposits, in US Dollars, at 2.89% for deposits of one year and above, but less than two years, from the existing 2.77%.
For deposits of two years and above but less than three years, interest rates have been revised to 3.08% from the existing 2.92%, a bank statement said.
Interest rates have been revised to 3.22% from the existing 3.08 per cent for deposits of three years and above, but less than four years,
For deposits of four years and above but less than five years, interest rates have been revised to 3.25 per cent from existing 3.15%.
For deposits of upto five years, the interest rates have been revised to 3.29% from existing 3.20%, the statement said. The bank shares ended at Rs373.80 apiece, down by 0.47% over the previous close in the BSE.