Indian Bank revises FCNR interest rates

For FCNR(B) deposits, revised interest rate has been fixed at 2.57% as against 2.58% for deposits of one to two years

Public sector Indian Bank has revised interest rates for the month of February on its Foreign Currency Non-Resident (Banking) deposits with immediate effect.
    
For FCNR(B) deposits, in dollar terms, the revised interest rate has been fixed at 2.57 per cent as against 2.58 per cent for deposits of one year and above but less than two years, Chennai-headquartered Indian Bank said in a statement.
     
For deposits of two years and above but less than three years, interest rate has been revised to 2.47 per cent, as against the existing 2.50 per cent, it said.
    

For deposits of three years and above, but less than four years, the interest rate has been fixed at 3.83 per cent from the existing 3.87 per cent.

    
The interest rate has been revised to 4.24 per cent for deposits of four years and above but less than 5 years from the existing 4.33 per cent, it said.
    
For deposits of up to five years, the interest rate has been revised to 4.62 per cent from existing 4.80 per cent, the statement added.