Indian Bank revises interest rate on NRE deposits

• Public sector Indian Bank has announced revision of interest rates on FCNR (B) and NRE deposits with effect from tomorrow.
• For FCNR (B) deposits, in US Dollar the revised interest rate has been fixed at 2.50 per cent for deposits of one year and above but less than two years (2.61 % existing).
• The revised interest rate has been fixed at 2.56 per cent for deposits of two years and above but less than 3 years (2.53 per cent existing).
• It has been fixed at 3.17 per cent for deposits of three years and above but less than 4 years (3.12 percent existing).
• The revised interest rate has been fixed at 3.64 percent for deposits of four years and above but less than 5 years (3.57 percent existing) and at 4.00 percent for deposits of 5 years only (3.93 percent existing), a bank release said.
• For NRE term deposits, the revised interest rate has been fixed at 3.25 per cent for one year and above but less than two years (3.36 % existing); at 3.31 percent for two years and above but less than 3 years (3.28 % existing) and at 3.92 percent for deposits of 3 years and above and upto 5 years (existing 3.87 per cent), the release added.

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