Chennai, September 01: Indian Bank has revised interest rates on Foreign Currency Non-residence Deposits FCNR (B) and NRE deposit with effect from today.
For FCNR (B) deposits, in US Dollar the revised interest rates has been fixed at 2.33 per cent for deposits of one year and above but less than two years (2.50 per cent existing) and at 2.35 per cent for deposits of two years and above but less than three years (2.56 per cent existing).
The revised interest rates has been fixed at 2.99 per cent for deposits of three years and above but less than four years (3.17 per cent existing), at 3.45 per cent for deposits of four years and above but less than five years (3.64 per cent existing) and at 3.79 per cent for deposits five years only (four per cent existing).
For NRE term deposits, the revised interest rate has been fixed at 3.08 per cent for one year and above but less than two years (3.25 per cent existing), at 3.10 per cent for two years and above but less than three years (3.31 per cent existing) and at 3.74 per cent for deposits of three years and above and upto five years (3.92 per cent existing), a release from the bank said today.
—Agencies