CHENNAI: Public sector lender Indian Bank has revised upwards its interest rates for foreign currency non-resident Indian deposits with immediate effect.
The interest rate for Foreign Currency Non-Resident (Banking) deposits in dollar terms has been fixed at 1.88 per cent, from the existing 1.70 per cent, for deposits of one year and above but less than two years.
For deposits of two years and above but less than three years, the interest rate has been revised to 2.16 per cent from existing 2 per cent, the Chennai-based bank said in a statement.
Interest rate has been revised to 2.93 per cent for deposits of three years and above but less than four years from existing 2.76 per cent.
For deposits of four years and above but less than five years, interest rates were hiked to 3.12 per cent from existing 2.95 per cent.
Interest rates have been fixed at 3.25 per cent for deposits of up to five years from existing 3.09 per cent, it said.
