Indian Bank, a public sector lender, has revised the Foreign Currency Non-Resident (Banking) term deposit interest rates with immediate effect. The bank has revised the interest rate on FCNR (B) deposits for one year and above but less than two years to 1.88% as compared to the existing 1.70%. Interest rate for deposits for two years and above but less than three years has been revised to 2.16 per cent from the existing 2 per cent.
For deposits of three years and above but less than four years, interest rate has been revised to 2.93 per cent from the existing 2.76 per cent. Interest rate was revised to 3.12 per cent for deposits of four years and above but less than five years from the existing 2.95 per cent. Besides, for deposits of up to five years, the interest rate has been revised to 3.25 per cent from existing 3.09 per cent.
