CHENNAI, Aug 31: The public sector Indian Bank today hiked the interest rates on FCNR(B) term deposits with effect tomorrow.
A bank release here today said for FCNR (B) deposits, in US Dollar, the revised interest rate has been fixed at 2.67 per cent for deposits of one year and above but less than two years (2.67% existing).
The interest rate was hiked to 2.57 per cent for deposits of two years and above but less than 3 years (2.48% existing); at 4.95 per cent for deposits of three years and above but less than 4 years (4.78 % existing); at 5.38 per cent for deposits of four years and above but less than FIVE years (5.17 % existing) and at 5.77 per cent for deposits of five years only (5.56% existing).
(UNI)
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