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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).
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