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.

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