Yesterday Indian bank announced its revised rates on the FCNR (B) deposits. The rates are effective from 1st April, 14. For the tenure of 1 to 2 years bank has increased the rate by 0.1%, the new rate is now 2.56%.
Further the rate for the tenure of 2 year and lesser than 3 year the interest rate has been increased to 2.59% from 2.47%. For period of 3 years and less than four years the rates has been increased by 0.23%. Earlier rate was 3.82 now the rates are 4.05%. For deposits up to five years, the interest rates has been increased to 4.85 per cent from the existing 4.62 per cent.