Public sector Indian Bank today revised the interest rates on Foreign Currency Non-Resident (Banking) deposits with immediate effect.
For FCNR(B) deposits, in USD, the revised interest rate has been fixed at 2.56 per cent for deposits of one year and above but less than two years from the existing 2.55 per cent.
For deposits of two years and above but less than three years, the interest rates has been increased to 2.59 per cent from the existing 2.47 per cent, the Chennai-headquartered bank said in a statement.
Interest rates have been revised to 4.05 per cent for deposits of three years and above but less than four years from the existing 3.82 per cent, it said.
For four years and above but less than five years, the interest rates has been increased to 4.48 per cent from the current 4.23 per cent.
For deposits up to five years, the interest rates have been increased to 4.85 per cent from the existing 4.62 per cent, it added.
