The Hindu Business Line : Corp Bank hikes FCNR (B), NRE rates

Corporation Bank has increased interest rates on FCNR (B) and NRE deposits with effect from June 1. A bank release said here on Friday that the interest rate on FCNR (B) deposits for US dollar has been increased to 4.64 per cent (4.55 per cent) for a tenure of one year to less than two years, 4.57 per cent (4.31 per cent) for two to less than three years, 4.55 per cent (4.26 per cent) for three to less than four years as well as for the tenure of four years to less than five years and 4.57 per cent (4.29 per cent) for five years. Interest rate on NRE term deposits has been increased to 5.39 per cent (5.3 per cent) for one year to less than two years, 5.32 per cent (5.06 per cent) for two to less than three years, and to 5.3 per cent (5.01 per cent) for three to 10 years, the release added.

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Corp Bank hikes FCNR (B), NRE rates