Mumbai: Private sector lender South Indian Bank on Friday said it has revised the interest rate on US dollar deposits under Foreign Currency Non-Resident (Bank) to 6.5 per cent per annum for tenures of 3-5 years.
The revised rate follows the Reserve Bank of India's (RBI) recent introduction of a USD/INR forex swap facility for fresh FCNR(B) deposits mobilised by banks for tenures of three to five years, the bank said in a statement.
