Public sector Indian Bank has revised its interest rates for foreign currency non-resident (banking) deposits with immediate effect.
"For FCNR (B) deposits, in US Dollar, the revised interest rate for deposits of one year and above but less than two years has been fixed at 1.51 per cent from the existing 1.50 per cent", Indian Bank said in a statement.
For deposits of up to two years and above but less than three years it has been revised to 1.90 per cent from the existing 1.87 per cent, it said.
Interest rates for three years and above but less than four years have been revised to 3.01 per cent from the existing 2.95 per cent, it said.
For deposits of four years and above but less than five years, the interest rates have been revised to 3.29 per cent from the existing 3.19 per cent.
For deposits of up to five years only, the interest rates have been revised to 3.53 units from the current 3.40 per cent, the statement said.
