Indian Bank ups rates on FCNR (B), NRE deposits

Chennai, July 2 (UNI) Indian Bank has revised interest rates upwards on FCNR (B) and NRE deposits with effect from July one, 2008.

For FCNR (B) deposits in US Dollar, the revised interest rate has been fixed at 2.56 per cent for deposits of one year and above but less than two years against the current 2.41 per cent, 2.85 per cent for two years and above but less than three years (2.71 per cent), 3.20 per cent for three years and above but less than four years (3.06 per cent), 3.42 per cent for four years and above but less than five years (3.30 per cent) and 3.56 per cent for five years (3.47 per cent).

For NRE term deposits, the revised interest rate has been fixed at 3.31 per cent for one year and above but less than two years (3.16 per cent), 3.60 per cent for two years and above but less than three years (3.46 per cent) and 3.95 per cent for three years and above and upto five years (3.81 per cent), according to a release here today.

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