Indian Bank has revised its interest rates on Foreign Currency Non-Resident (Banking) term deposits across different maturities with immediate effect.

For FCNR(B) deposits, in terms of US dollar, the interest rate has been fixed at 3.03 per cent against 3.05 per cent for deposits of one year and above but less than two years, the Chennai-based bank said in a statement.

For deposits of two years and above but less than three years, the interest rate remained unchanged at 2.42 per cent.

The interest rates have been revised to 3.5 per cent from 3.48 per cent for deposits of three years and above but less than four years.

For deposits of four years and above but less than five years, the rate has been increased to 3.66 per cent from 3.63 per cent, it said.

For deposits of five years, it has been hiked to 3.87 per cent from 3.79 per cent, the statement added.

(This article was published on September 2, 2012)
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