• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureaus,

Mumbai, Kolkata, Nov. 1

ICICI Bank, Syndicate Bank, State Bank of India and Union Bank of India have uniformly hiked NRE and FCNR deposit rates.

For FCNR (B) deposits in US dollars, rates have been revised to 5.34 per cent per annum for maturity of one year to less than two years and for maturity of two years to less than three years it is 5.17 per cent. For deposits of maturity of 5 years, the rates have been pushed up to 5.12 per cent.

In case of NRE deposits, the rates have moved up to 6.34 per cent for maturity of one year to less than two years and for two years and less than three years, the rate is 6.17 per cent.

For deposits with maturity of three years and up to five years, the rate is 6.11 per cent per annum. ICICI Bank has raised rates to 6.34 per cent for deposits of maturity of 12 months to less than 18 months.

Effective Wednesday, United Bank of India introduced revised interest rates on NRE as well as FCNR (B) term deposits (new and renewals), according to a press release issued by the bank.

For NRE deposits, the revised rate will be 6.34 per cent as compared to 6.30 previously for the period from one year to less than two years; 6.17 per cent (6.09 per cent) for the period from two years to less than three years; and 6.11 per cent (6.01 per cent) for the period from three to five years. The interest rates on FCNR (B) deposits will vary, depending on the currency.

More Stories on : Fixed Deposits | NRIs

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Rupee gains on weak dollar

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line