Chennai: Public sector Indian Bank has revised its interest rates on Foreign Currency Non-Resident (Banking) term deposits across different maturities with immediate effect.
For FCNR(B) Deposits, in USD, the interest rate has been fixed at 3.03 percent for deposits of one year and above but less than two years as against 3.05 percent, the Chennai-based bank said in a statement.
For deposits of two years and above but less than three years, the interest rate remained unchanged at 2.42 percent.
The interest rates has been revised to 3.50 percent from 3.48 percent, for deposits of three years and above but less than four years.
For deposits of four years and above but less than five years, the rate has been increased to 3.66 percent from 3.63 percent, it said.
For deposits of five years, it has been hiked to 3.87 percent as against the existing 3.79 percent, the statement added. PTI
