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Indian Bank revises interest rates on FCNR (B) deposits

Public sector lender Indian Bank has revised interest rates on Foreign Currency Non-Resident (Banking) deposits with immediate effect.

Indian Bank-AVFor FCNR (B) deposits, in US Dollar terms, the revised interest rate has been fixed at 1.74 per cent for deposits of one year and above but less than two years from the existing 1.70 per cent.

For deposits of two years and above but less than three years, the interest rates were marginally decreased to 1.84 per cent from 1.86 per cent.

Interest rates were fixed to 2.44 per cent for deposits of three years and above but less than four years from existing 2.50 per cent.

For deposits of four years and above but less than five years, the interest rates were revised to 2.52 per cent from the existing 2.65 per cent.

For deposits of up to five years only, the interest rates were revised to 2.65 per cent from 2.79 per cent.

Indian Bank’s shares were trading at Rs 76.70, down by 0.07 per cent in the pre-close session on BSE.

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