Money & Banking

Indian Bank hikes FCNR (B) rates

Our Bureau Chennai | Updated on January 08, 2018 Published on January 03, 2018

Indian Bank has raised the interest rates on foreign currency non-resident (banking) term deposits from January 1.

For FCNR (B) deposits in US dollar terms, the rate has been fixed at 2.89 per cent for deposits of one year and above but less than two years, from 2.77 per cent now, according to a statement. For deposits of two years and above but less than three years, the rate has been increased to 3.08 per cent (2.92 per cent).

Published on January 03, 2018
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