Indian Bank, country’s public sectorlender has revised its Foreign Currency Non-Resident (Banking) andNon-Resident (External) term deposit rates with immediate effect.
Thebank has increased FCNR (B) deposits in dollar terms to 2.32% fordeposits of one year and above, but less than two years from theexisting 2.19%. For two-years and above but less than three years, theinterest rates have been changed to 2.01% from the existing 1.86%. Fordeposits of three years and above but less than four years, it has beenincreased to 2.14 % from the present 2.02%.
Fordeposits of four years and above but less than five years, it ischanged to 2.35% from the existing 2.30%. For deposits of up to fiveyears, it has been revised to 2.62% from the existing 2.59%.
OnNon-Resident (External) deposits, the revised interest rates for oneyear and above but less than two years has been fixed at 3.82% from3.69%, for those deposits of up to two years and above but less thanthree years it is revised to 3.51% from the existing 3.36%. Fordeposits of three years and up to five years it has been changed to3.64% from the existing 3.52%.
