CHENNAI: Public sector Indian Bank has revised its interest rates in the foreign currency non-resident (banking) term deposits with immediate effect. 

"For FCNR (B) deposits, in USD, the revised interest rates are fixed at 2.11 pct for deposits of one year and above but less than two years, from the current 2.02 pct, for deposits in USD," the city-based bank said in a statement.

Interest rates were revised to 2.32 pct for deposits of two years and above, but less than three years from existing 2.12 pct. 

For deposits of three years and above, but less than four years, the interest rates increased to 3.01 pct from the existing 2.70 pct. 

Interest rates were revised to 3.16 pct for deposits of four years and above, but less than five years from existing 2.77 pct. 

For deposits of upto five years, the interest rates were fixed at 3.29 pct from existing 2.86 pct, it added.

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