INDIAN BANK REVISES FCNR (B), NRE DEPOSITS

Indian Bank revised its FCNR (B) and NRE deposits interest rates w.e.f. January 1. The revised interest rate in USD has been fixed at 1.98% for deposits of one year and above, but less than two years. For two years and above but less than three years, it has revised the interest rates from 2.01% to 2.39%. Similarly, for three years and above, but less than four years, it has been revised from 2.56% to 3.04%.

For NRE term deposits, the revised rate has been fixed at 2.73% for one year and above but less than two years. The bank has also revised NRE term deposits at 3.14% for two years and above, but less than 3 years and 3.79% for deposits of 3 years and upto 5 years.

Source: http://www.business-standard.com/india/news/indian-bank-revises-fcnrb-nre-deposit-rates/82164/on