Indian Bank revises interest rates on foreign currency non-resident (banking) deposits

For deposits of two years and above, but less than three years, the interest rates have been revised to 3.88 per cent from 3.77 per cent.

Public sector Indian Bank has revised interest rates on foreign currency non-resident (banking) deposits with immediate effect. The revised interest rates for deposits of one year and above but less than two years in US dollar terms have been fixed at 3.68 percent as against 3.59 percent, the city-headquartered bank said in a statement.

For deposits of two years and above, but less than three years, the interest rates have been revised to 3.88 percent from 3.77 percent.

Interest rates on deposits of three years and above but less than four years, it has been increased to 3.97 percent from existing 3.89 percent.

For deposits of four years and above but less than five years, the bank said the interest rates have been revised to 3.99 percent as against 3.92 percent. For deposits of up to five years, interest rates are 4 percent as compared to 3.93 percent. The bank's shares were trading at Rs 356.40 apiece, up by 0.79 percent over the previous close in BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)