Indian Bank raises NRI deposit rates
By Neelima Shankar
Mar 2, 2011
Print    Email    RSS   

Public sector lender, Indian Bank has announced a hike in interest rates of NRI deposits namely Foreign Currency Non-Resident (FCNR) (Banking) and NRE (Non-Resident External account) deposits.

The revised rates are to come into immediate effect.

Deposits having tenor of 2 years to less than 3 years will now fetch the depositor an intererst of 1.91%.

The 3-4 year deposits will now have interest of 2.44% associated with them as against 2.24% earlier.

Interest has been raised for the 4-5 year deposit to 2.94% while the deposits of more than 5 year tenor will fetch interest of 3.36%.

The NRE deposit rates have also been hiked in the 1-2 year tenor to 2.54% from 2.52% earlier.

The 2-3 year NRE deposit will bear interest of 2.66% while the interest will be 3.19% for ther 3-5 year deposits.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

A checklist of investment options for...
The new avatar of savings account would...
Need of nomination in bank accounts
Investment options to Save Tax under...
Things you should know while filing income...

MEXING: CaℒL Giℛℒ In Hoshiarpur 09855660911...
Sakeela.CaℒL Giℛℒs In Kharar 0985566O911...
NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...

Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive