Indian Bank revises FCNR (B) interest rates

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Public sector Indian Bank has revised its foreign currency non resident (banking) deposit interest rates with immediate effect.

For FCNR (B) deposits, in US Dollar, the revised interest rate has been fixed at 2.53 per cent for deposits of one year and above but less than two years, compared to the existing 2.55 per cent.

For deposits of two years and above but less than three years, the interest rates have been revised to 2.52 per cent from the existing 2.56 per cent, Chennai-based Indian Bank said in a statement today.

Interest rates have been changed to 3.91 per cent for deposits of upto three years and above but less than four years compared to the existing 4.02 per cent, it said.

For deposits of four years and above but less than five years, the interest rates has been revised to 4.29 per cent from existing 4.45 per cent, it said.

Interest rates for deposits of up to five years have been fixed at 4.62 per cent from the existing 4.81 per cent, the statement added.

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