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Informist, Friday, Jun. 12, 2026

--Indian Bank launches special FCNR(B) deposit scheme till Sept 30 

--Indian Bank raises 3-5 year FCNR(B) deposit rates by 200-310 bps 

--Indian Bank raises 3-5 year FCNR(B) deposit rates to 5.50-6.50% 

MUMBAI – Indian Bank has launched Special FCNR(B) Deposit scheme after the Reserve Bank of India's dollar-rupee swap facility for fresh deposits to attract foreign capital, according to the bank's website. The lender's foreign currency non-resident dollar-denominated bank deposits of up to $1 million for three year to five year tenures are at 6.00-6.50%.

Under the scheme, the lender's FCNR(B) deposits of above $1 million and less than $3 million for three-year to five-year tenures are at 5.60-6.10%. Deposits of above $3 million attract rate of 5.50-6.00% for three to five-year tenures. The scheme will stay opened till Sept. 30.

Rates effective outside the special deposit scheme are 3.50% for three- to four-year deposits and 3.40% for four to five-year deposits. These rates were effective from Apr. 6. 

For the March quarter, the bank reported a net profit of INR 31.03 billion on a total income of INR 199.80 billion. At 1038 IST, shares of the bank were at INR 837.60, up 1.4% on the National Stock Exchange.  End

US$1 = INR 95.32

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by J. Navya Sruthi

Edited by Akul Nishant Akhoury

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