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The revised interest rate has been fixed at 1.74% for deposits of one year and above but less than two years from the existing 1.70%.
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Updated : Mar 21, 2018, 04:23 AM IST
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Public sector lender Indian Bank has revised interest rates on Foreign Currency Non-Resident (FCNR) banking deposits with an immediate effect.
For FCNR (Banking) deposits, in the US dollar terms, the revised interest rate has been fixed at 1.74% for deposits of one year and above but less than two years from the existing 1.70%.
For deposits of two years and above but less than three years, the interest rates were marginally decreased to 1.84% from 1.86%.
Interest rates were fixed to 2.44% for deposits of three years and above but less than four years from the existing 2.50%.
For deposits of four years and above but less than five years, the interest rates were revised to 2.52% from the existing 2.65%.
For deposits of up to five years only, the interest rates were revised to 2.65% from 2.79%.
At 1529 hours, the shares of Indian Bank were trading up 0.52% or Rs 0.40 at Rs 77.15 per scrip on the BSE.
