Indian Bank revises FCNR(B) deposit interest rates
Posted on: 03/Oct/2011 1:05:33 AM - No. of views : (2295)
Public sector Indian Bank has revised its Foreign Currency Non-Resident (B) and Non-Resident (External) deposit interest rates with immediate effect.
A statement from the Chennai-headquartered bank said for FCNR (B) deposits the revised interest rate has been fixed at 1.86 percent for deposits of one year and above but less than two years (1.80 percent existing), 1.56 percent for deposits of two years and above but less than three years (1.51 percent existing), 1.72 percent for deposits of three years and above but less than four years (1.67 percent existing).
The interest rate for deposits of four years and above but less than five years has been revised to 1.98 percent (1.95 percent existing) and 2.24 percent for deposits of five years (2.28 percent existing).
For NRE term deposits, revised interest rates has been fixed at 2.61 percent for one year and above but less than two years (2.55 percent existing); 2.31 percent for two years and above but less than three years (2.26 percent existing) and 2.47 percent for deposits of three years and above but less than five years, the statement added.
