Indian Bank revises interest rates on FCNR (B) deposits

Tags: Banking
State-run Indian Bank has revised the interest rates on foreign currency non-resident (banking) deposits with immediate effect.

The Chennai-based bank has revised the interest rates on FCNR (B) deposits for one year and above but less than two years to 2.55 per cent as compared to the existing 2.53 per cent.

For deposits of two years and above but less than three years, the interest rates have been revised to 2.58 per cent from the existing 2.52 per cent, the bank said in a statement.

For deposits of three years and above but less than four years, the interest rates have been revised to 3.51 per cent from 3.91 per cent at present, it said.

Also, for deposits of four years and above but less than five years, the interest rates have been fixed at 3.89 per cent from the existing 4.29 per cent.

For deposits of up to five years, the interest rates have been revised to 4.18 per cent from the existing 4.62 per cent, it added.

EDITORIAL OF THE DAY

  • RBI's new lending norms to clean up bank books, check defaults

    As state-owned banks come closer to cleaning up their balancesheet by March next year, the Reserve Bank of India (RBI) has started another major refor

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

BK Chaturvedi

Governance is under serious attack

The prosecution of an extraordinarily honest civil servant like HC ...

Rajgopal Nidamboor

It is not easy to define emotion

Scientists, who analyse straightforward scientific facts, also recognise and comprehend ...

Dharmendra Khandal

Everything has its place in nature

Last week I was observing an injured animal, because of ...