Indian Bank revises interest rates

Public sector Indian Bank has revised its interest rates on foreign currency non-resident (banking) term deposits with immediate effect.

For FCNR(B) deposits, in USD terms, the revised interest rate has been fixed at 2.40 percent for deposits of one year and above, but less than two years from 2.33 percent.

For deposits of two years and above, but less than three years, the interest rates were fixed at 2.62 percent from the current 2.57 percent.

Interest rates were revised to 2.88 percent for deposits of three years and above, but less than four years from the existing 2.78 percent.