Indian Bank revises FCNR, NRE deposit rates
06 Sep 2007
Mumbai: Indian Bank has revised interest rates on FCNR and NRE deposits with effect from September 1.
For FCNR deposits, in US dollar the revised interest rate has been fixed at 4.53 per cent for deposits of one year to less than two years from existing 4.50 per cent, while 4.15 per cent for 2-3 years as against 4.42 per cent, the bank said in the release.
For 3-4 years deposits the new rate is 4.16 per cent against 4.46 per cent, while 4.20 per cent for 4-5 years and 4.26 per cent for five years, it said.
For
NRE term deposits, the revised interest rate has been
fixed at 5.28 per cent for 1-2 years, 4.90 per cent for
2-3 year against 5.17 per cent earlier and 4.91 per cent
for 3-5 years.
