Public sector lender Indian Bank has announced the revision of interest rates of its NRE as well as FCNR deposits.
The foreign currency non resident (FCNR) deposits in USD will now have interest of 2.32% for tenor of 1 year and above and 2.19% for deposits of less than 2 years.
Deposits having tenor of 2 years to less than 3 years will have interest of 2.01% and for those having maturity period of 3 years to less than 4 years, the interest is 2.14%.
Interest rates would be 2.30% for interest of 4 years to less than 5 years.
NRE deposits would have an interest of 3.82% for tenor of 1 year and above to les than 2 years and 3.51% for tenor of 2 years to less than 3 years.