State Bank of India ups FCNR rates

FCNR(B) deposits in dollar having one year to less than two years maturity will now attract a rate of 1.92 per cent (1.84 per cent) while deposits for 2 years to less than 3 years will carry a rate of 2.24 per cent (2.08 per cent), it said in a release.

Similarly, deposits with 3-4 years, 4-5 years, and 5 years tenures will carry rates of 2.84 per cent (2.69 per cent), 3.34 per cent (3.20 per cent) and 3.75 per cent (3.62 per cent ) respectively, the bank said. Rates for deposits in Euro, in 1-2 years and  2-3 years have been revised to 2.19 per cent (2.20) and 2.49 per cent (2.45 per cent) respectively, stated the release.

Interest rates for NRE deposits in 1-2 years, 2-3 years and 3-5 years tenures have been revised to 2.67 per cent (2.59 per cent), 2.99 per cent (2.83 per cent) and 3.59 per cent (3.44 per cent) respectively, the bank said.