The Hindu Business Line : Corpn Bank revises FCNR(B), NRE term deposit rates

A bank release said here that the interest rate on US dollar is 1.81 per cent per annum (1.82 per cent) for a period of one year to less than two years, and 2.69 per cent (2.70 per cent) for tenure of two years to less than three years. The rate for three years only is 3.27 per cent (3.29 per cent).

It said the interest rate on the euro is 2.10 per cent (2.06 per cent) for tenure of one year to less than two years, and 2.52 per cent (2.51 per cent) for two years to less than three years. For three years only, it is 2.89 per cent (2.93 per cent).

Interest rate on Great Britain Pound for one year to less than two years is 4.89 per cent (also 4.89 per cent), and for two years to less than three years is 5.15 per cent (5.11 per cent). The rate for three years only is 5.25 per cent (5.21 per cent).

Interest rates on RFC deposits are also revised accordingly.

The release said that the bank has revised interest rates on NRE term deposits with effect from June 1.

Interest rate on NRE deposits for one year to less than two years is 2.10 per cent per annum (2.3 per cent). For two years to less than three years is 2.90 per cent (also 2.90 per cent), and for three years only is 3.50 per cent (3.50 per cent).

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