Indian Bank revises interest rates on FCNR deposits
Indian Bank’s interest rates on FCNR (B) deposits of three years and above but less than four years, have been revised to 2.67% from existing 2.75%
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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