Indian Bank revises FCNR deposit rates

Chennai State-run Indian Bank today said has revised the interest rates on foreign currency non-resident (banking) deposits with immediate effect. For FCNR (B) deposits in USD terms,the revised interest rates has been fixed at 2.30 per cent for deposits of one year and above but less than two years from the existing 2.31 per cent. […]

Written by Agencies | Published: April 2, 2012 4:15 pm

Chennai

State-run Indian Bank today said has revised the interest rates on foreign currency non-resident (banking) deposits with immediate effect.

For FCNR (B) deposits in USD terms,the revised interest rates has been fixed at 2.30 per cent for deposits of one year and above but less than two years from the existing 2.31 per cent.

For deposits of two years and above,but less than three years,it has been revised to 1.85 per cent from the existing 1.81 per cent,the Chennai-headquartered bank said in a statement.

For deposits of three years and above,but less than four years,it has been increased to two per cent from the present 1.93 per cent.

The interest rates on deposits for four years and above,but less than five years it has been revised at 2.23 per cent from the existing 2.12 per cent.

For deposits of up to five years,it has been hiked to 2.49 per cent from the present 2.34 per cent,the statement added.

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