Indian Bank revises rates on FCNR, NRE deposits

Indian Bank has revised interest rates on FCNR (B) deposits in US Dollar, the revised interest rate has been fixed at 4.17 per cent for deposits of one year and above but less than two years (3.42 per cent existing); at 3.66 per cent for deposits of two years and above but less than three years (2.91per cent existing); at 4.14 per cent for deposits of three years and above but less than four years (3.39 per cent existing); at 4.49 per cent for deposits of four years and above but less than five years (3.74 per cent existing) and at 4.76 per cent for deposits of five years only (4.01 per cent existing).

The new rates will come into effect from November 17.

For NRE term deposits, the revised interest rate has been fixed at 4.92 per cent for one year and above but less than two years (4.17 per cent existing); at 4.41 per cent for two years and above but less than three years (3.66 per cent existing) and at 4.89 per cent for three years and above and up to five years (4.14 per cent existing).