Indian Bank revises FCNR interest rates

Public sector Indian Bank today revised interest rates for Foreign Currency Non-resident (Banking) accounts with immediate effect.

In dollar terms, the interest rate remains unchanged for FCNR (B) deposits of one year and above but less than two years at 3.07%, the Chennai-headquartered bank said in a statement.

For deposits of two years and above but less than three years, the interest rates has been revised to 2.55% against 2.63% earlier.

The interest rates has been revised to 3.63% against 3.71% for deposits of three years and above but less than four years.

For deposits of four years and above but less than five years, it has been revised to 3.78% against 3.87%, it added.

The rates for deposits of upto five years have been revised to 3.97% against 4.04%, the statement added.