Indian Bank revises interest rates

Tags: News
Public sector lender Indian Bank has revised the term deposit interest rates on foreign currency non-resident (banking) with immediate effect.

The Chennai-based bank, in a statement said the interest rates for FCNR(B) deposits, in USD terms, has been fixed at 2.55 per cent for deposits of one year and above but less than two years, compared to the existing 2.56 per cent.

Interest rates have been revised to 2.56 per cent for deposits of two years and above but less than three years, compared to the existing 2.59 per cent, it said.

For deposits of three years and above but less than four years, the interest rates have been decreased to 4.02 per cent from the existing 4.05 per cent, it said.

Interest rates have been revised to 4.45 per cent for deposits of four years and above but less five years from the existing 4.48 per cent.

For deposits of up to five years, the interest rates have been revised to 4.81 per cent from the existing 4.85 per cent, the statement added.

EDITORIAL OF THE DAY

  • No ifs and buts, please, in India’s engagement with Iran

    Some foreign policy purveyors in this country have for long insisted that India does not leverage its civilisational connections as it should or is ca

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

New masters of the Financial Times

A few days ago, Japan’s leading financial daily Nihon Keizai ...

Anuja Sharma

Focus mindfully to get the result

Have you ever tried to light a fire using the ...

Gautam Gupta

Our fashion schools need to notch it up

“Creativity is the key to success and primary education is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture