Bangalore: State-run Indian Bank said has revised the interest rates on foreign currency non-resident (banking) deposits with immediate effect.

For FCNR (B) deposits in $ terms, the revised interest rates has been fixed at 2.30 percent for deposits of one year and above but less than two years from the existing 2.31 percent.

For deposits of two years and above, but less than three years, it has been revised to 1.85 percent from the existing 1.81 percent, the Chennai-headquartered bank said in a statement.

For deposits of three years and above, but less than four years, it has been increased to two per cent from the present 1.93 percent.

The interest rates on deposits for four years and above, but less than five years it has been revised at 2.23 percent from the existing 2.12 percent.

For deposits of up to five years, it has been hiked to 2.49 percent from the present 2.34 percent, the statement added.