The Hindu Business Line : SBI hikes NRE, FCNRB rates

SBI has hiked the interest rates for FCNRB and NRE term deposits across various maturities with effect from July 1. The bank now offers an interest rate of 6.70 per cent per annum on NRE fixed deposits with maturity of one to less than two years (6.43), 6.70 per cent for two to less than three years (6.43) and 6.70 per cent for three to five years (6.45). Interest rates on one to less than two year FCNR deposits denominated in US dollars have been increased to 5.69 per cent per annum (5.43), 5.69 per cent for two to less than three years (5.43), 5.68 per cent for three to less than four years (5.45), 5.70 per cent for four to less than five years (5.47) and 5.72 per cent for five years (5.51). These rates are valid for all fresh deposits and renewal of existing deposits made in July. — Our Bureau

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