Public sector Bank – Indian Bank has revised its FCNR (B) rates. The new rates will be applicable immediately. For the period of 1 to 2 year the bank has changed the rate to 2.55% from 2.53%.
For the period of 2 to 3 years the bank has increased the rate to 2.58% from 2.52%. For deposits of three years and above but less than four years, the interest rates have been revised to 3.51 per cent from 3.91 per cent at present. Whereas for the deposits, for the time period of 4 years and above the bank has reduced the rate to 3.89% from 4.29%. Lastly for the deposits made for 5 years and above the new rate is 4.18%.