Indian Bank hikes rates on FCNR (B) deposits

CHENNAI, June 29:  The Public Sector Indian Bank today announced hike in interest rates on FCNR (B) term deposits  with effect from July one.
For FCNR (B) deposits, in US Dollar, the revised interest  rate has been fixed at 2.69 per cent for deposits of one year  and above but less than two years (2.69% existing).
A Bank release here today said the interest rate was fixed at 2.50 per cent for deposits of two years and above  but less than 3 years (2.45 per cent existing); 3.78 per cent  for deposits of three years and above but less than 4 years  (3.64 per cent existing); 4.18 per cent for deposits of four  years and above but less than 5 years (3.90 per cent existing)  and 4.51 per cent for deposits of five years only (4.16 per  cent existing).
(UNI)

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