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Public sector Indian Bank has revised the interest rates on Foreign Currency Non-Resident (banking) term deposits with immediate effect. For FCNR (B) deposits, in US dollar terms, the interest rates have been revised to 3.09 per cent for deposits of one year and above, but less than two years from the existing 2.89 per cent. For deposits of two years and above but less than three years, the interest rates were revised to 3.31 per cent from 3.08 per cent, the city-headquartered bank said in a press release. Interest rates were revised to 3.49 per cent on deposits of three years and above, but less than four years from the current 3.22 per cent.
For deposits of four years and above but less than five years, the interest rates were revised to 3.56 per cent from current 3.25 per cent. For deposits of up to five years, the interest rates were fixed at 3.62 per cent from 3.29 per cent, the release added.