Indian Bank revises interest rates

Public sector lender Indian Bank  has revised the term deposit interest rates on foreign currency non-resident (banking) with immediate effect. The Chennai-based bank, in a statement said the interest rates for FCNR(B) deposits, in USD terms, has been fixed at 2.55 percent for deposits of one year and above but less than two years, compared to the existing 2.56 percent. 
                      Interest rates have been revised to 2.56 percent for deposits of two years and above but less than three years, compared to the existing 2.59 percent, it said. For deposits of three years and above but less than four years, the interest rates have been decreased to 4.02 percent from the existing 4.05 percent, it said. Interest rates have been revised to 4.45 percent for deposits of four years and above but less five years from the existing 4.48 percent. 
                    
                         For deposits of up to five years, the interest rates have been revised to 4.81 percent from the existing 4.85 percent, the statement added.

Indian Bank stock price 
On May 02, 2014, Indian Bank closed at Rs 127.10, down Rs 1.75, or 1.36 percent. The 52-week high of the share was Rs 174.75 and the 52-week low was Rs 60.50. The company's trailing 12-month (TTM) EPS was at Rs 25.38 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 5.01. The latest book value of the company is Rs 249.71 per share. At current value, the price-to-book value of the company is 0.51.

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