Yesterday Indian Bank has revised its interest rates on its foreign currency non-resident (banking) deposits. The new rates will be applicable from 4th August onwards.

For the tenure of one to two years the bank has reduced the rate to 2.36% from 2.55%. For the deposits made for the time period of 2 to three years the rate has been revised to 2.76 per cent from the current 2.58 per cent.

For the time period of three to four year the bank has increased the rate to 3.71% from 3.51%. For deposits of four years and above but less than five years, the interest rates have been increased to 4.11 per cent from the existing 3.89 per cent.

For the rest i.e. 5 years and above the bank has fixed the rates to 4.4%.