Indian bank has revised the rate of interest on Foreign Currency Non-Resident (FCNR) banking term deposits. For the term deposits of one year and above, but less than two years, the bank has changed the rate of interest from 2.54% to 2.63%.
As per PTI, the bank has revised the rate of interest with immediate effect. For term deposits of two years and above but less than three years, the rate of interest has been revised from 2.71% to 2.80%. For deposits of three years and above but less than four years, the rate of interest rate has been changed from 2.88% to 2.96%. In addition, for deposits of four years and above but less than five years, the rate of interest has been changed from 2.95% to 3.05%. People, who have term deposit for up to five years, will now receive 3.14% of interest instead of the previous 3.02%.