Indian Bank revises FCNR(B) interest rates

Indian Bank has revised its Foreign Currency Non-Resident (banking) term deposit interest rates with immediate effect.
For FCNR (B) deposits, in US Dollar terms, the revised interest rate has been fixed at 1.59 per cent for deposits of one year and above but less than two years from the existing 1.51 per cent.
For deposits of two years and above, but less than three years, the interest rate has been revised to 1.97 per cent from the existing 1.90 per cent, the Chennai-based bank said in a statement.
Interest rate for deposits of three years and above, but less than four years has been revised to 3.06 per cent from the existing 3.01 per cent, it said.

For deposits of four years and above, but less than five years, interest rate has been revised to 3.31 per cent from the current 3.29 per cent.
For deposits of up to five years, the interest rate has been revised to 3.52 per cent from the existing 3.53 per cent, it said.
Shares of the bank were trading at Rs 143.10 apiece up 7.72 per cent over previous close in afternoon BSE.