Indian Bank revises FCNR deposit interest rates

For deposits in US Dollars, the revised interest rates have been fixed at 1.70% for one year

Public sector Indian Bank has revised its foreign currency non-resident (FCNR) deposit rates with immediate effect.

For FCNR deposits in US Dollars, the revised interest rates have been fixed at 1.70% for one year and above but less than two years, from the existing 1.90%.

Interest rates were revised to 1.78% for deposits of two years and above but less than three years from the existing 2.08%, the city-based bank said in a statement.

For deposits of three years and above but less than four years, the interest rates were revised to 2.33%, from 2.70%.

Interest rates on deposits for four years and above but less than five years have been fixed at 2.42%, from the existing 2.80%.

For deposits of up to five years, the interest rates were fixed at 2.53% from the existing 2.88%, it said.