State Bank of India on Friday revised its interest rates on foreign currency non-resident (B) account deposits and non-resident external term deposits with immediate effect.
With this, FCNR(B) deposits in U.S. dollar, having a maturity of 1-2 years, will now attract an interest of 1.98 per cent as against 2.02 per cent earlier, the bank said in a press release issued here.
Dollar deposits in 2-3 years, 3-4 years and 4-5 years, will attract a rate of 2.39 per cent (2.01), 3.04 per cent (2.56 per cent) and 3.54 per cent (3 per cent).
Similarly, deposits in euro and pound sterling, having 1-2 years maturity, will now attract 2.22 per cent and 2.25 per cent (2.22 per cent).
Deposits in the above currencies having 2-3 years maturity will offer rate of 2.88 per cent (2.75 per cent) and 3.03 per cent (2.76 per cent).
Interest rates for NRE rupee term deposits, in the 1-2 year maturity, will now offer a rate of 2.73 per cent (2.77 per cent) while those in 2-3 years and 3-5 years will carry 3.14 per cent (2.76 per cent) and 3.79 per cent (3.31 per cent).
