Chennai: Public sector Indian Bank on Saturday said it has revised upwards interest rates for the Foreign Currency Non-Resident (FCNR) and Non-Resident (External) accounts with immediate effect.
    
For the FCNR (B) deposits, the revised interest rate has been increased to 1.80 per cent from 1.76 per cent for deposits of one year and above but less than two years, the Chennai-headquartered bank said in a statement.
    
Interest rates for deposits of two years and above but less than three years has been fixed at 1.51 per cent against 1.64 per cent previously.
    
For deposits of three years and above but less than four years, the interest rates have been revised to 1.67 per cent from 1.94 per cent.
    
For deposits of four years and above but less than five years, the revised rates will 1.95 per cent from 2.32 per cent.
   
Interest rates for deposits of up to five years have been revised to 2.28 per cent from 2.72 per cent, the statement said.
    
For Non-Resident (External) deposits, the interest rate has been revised to 2.55 per cent from 2.51 per cent for deposits of one year and above but less than two years.
    
For deposits of two years and above but less than three years it has been revised to 2.26 per cent from 2.39 per cent.
    
For deposits of three years and Upton five years the interest rate has been revised to 2.42 per cent from 2.69 per cent, the statement added.

(Agencies)