Indian Bank revises interest rates in foreign currency non-resident banking deposits

"For FCNR (B) deposits, in US Dollar, the revised interest rates has been fixed at 1.95 per cent for deposits of one year and above but less than two years from the existing 1.96 per cent", said the bank.

By: PTI | Chennai | Published:October 1, 2016 4:06 pm

Public sector Indian Bank has revised its interest rates in the foreign currency non-resident banking deposits with immediate effect. “For FCNR (B) deposits, in US Dollar, the revised interest rates has been fixed at 1.95 per cent for deposits of one year and above but less than two years from the existing 1.96 per cent”, the city-headquartered bank said in a statement.

For deposits of two years and above, but less than three years, interest rates have been revised to 2.01 per cent from existing 2.06 per cent. For deposits of three years and above, but less than four years, the interest rates were fixed at 2.56 per cent from the existing 2.61 per cent. Interest rates, for deposits of four years and above but less than five years, have been revised to 2.61 per cent from the existing 2.66 per cent.

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For deposits of up to five years, the interest rates were fixed at 2.66 per cent from current 2.71 per cent.

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