Mumbai, July 2

Union Bank of India, Bank of India and State Bank of India have revised the interest rates on FCNR (B) and NRE (rupee) term deposits effective July 1, 2007. In the case of FCNR (B) deposits, the interest rate on dollar deposits of various tenures are: one to less than two years 4.68 per cent (4.64 per cent), two to less than three years 4.68 per cent (4.57 per cent), three to less than four years 4.71 per cent (4.55 per cent), four to less than five years 4.75 per cent (4.55 per cent) and for five years it is 4.79 per cent (4.57 per cent). For NRE deposits, following are the interest rates: one to less than two years 5.43 per cent (5.39 per cent), and two to less than three years 5.43 per cent (5.32 per cent). —

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(This article was published in the Business Line print edition dated July 3, 2007)
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