State Owned Bank Indian Bank has revised its Foreign Currency Non Resident (Banking) rates recently. The new rates will applicable immediately. For the tenure of 1 year and above the rate has been decreased to 2.53% from 2.55%.

Further for the period of 2 to 3 yrs the rate has been revised to 2.52% from 2.56%. Similarly for the period of 3-4 yrs the bank has reduced the rate has been reduced by 0.16%. The new rate is now 4.29%.

Interest rates for deposits of up to five years have been fixed at 4.62 per cent from the existing 4.81 per cent.