: Public sector Indian Bank today revised the interest rates on Foreign Currency Non-Resident (banking) term deposits with immediate effect.
The city-based bank, in a statement said the interest rates, (in USD) for FCNR (banking) deposits has been revised to 3.59 per cent for deposits of one year and above, but less than two years, from the existing 3.51 per cent.
For deposits of two years and above but less than three years, the rates have been fixed at 3.77 per cent as against the earlier 3.70 per cent.
Interest rates on deposits for three years and above, but less than four years, has been revised to 3.89 per cent as against 3.82 per cent.
For deposits of four years and above but less than five years, the rates will now be 3.92 per cent compared to 3.84 per cent earlier.
For deposits of upto only five years, the interest rates has been revised to 3.93 per cent as against 3.86 per cent, it added.
The bank shares were trading at Rs 337.65 apiece, up by 0.43 per cent over the previous close in the BSE.