SBM revises FCNR rates

SBM revises FCNR rates

State Bank of Mysore has revised interest rates on NRE, FCNR (B) and RFC deposits with effect from 1st Sep 2009 as under:

Interest rates on FCNR(B)/RFC for US $ with a maturity of 3 months & above, for less than 6 months (RFC only) is 1.35 per cent, for 6 months and above less than 1 year (RFC only) is 1.76, for 1 year and above but less than 2 years is 2.33, for 2 year and above but less than 3 years is 2.35, for 3 year and above but less than 4 years is 2.99, for 4 years and above but less than 5 years is 3.45 and for 5 years only is 3.79. Interest rates on NRE with a maturity of 1 year and above but less than 2 years is 3.08, for 2 year and above but less than 3 years is 3.10, for 3 year and above up to 5 years is 3.74 per cent.