NEWS & ADVICE : FIXED DEPOSITS
Indian Bank raises foreign currency deposit rates
By Neelima Shankar
Apr 7, 2010
Print    Email    RSS   

Indian Bank has raised interest rates on its foreign currency deposits. The deposit rates have been increased for Foreign Currency Non Resident Bank deposits and Non Resident External Rupee deposits.

FCNR bank deposits entertain deposits in foreign currency while NRE deposits entertain the same in Indian rupee.

State Bank of India has also hiked its foreign currency deposit rates from the month of April 2010.

The bank has revised interest rate on FCNR (B) deposits to 1.92% for deposits having a tenor from 1 year to 2 years. The current interest rate for the same tenor is 1.84%.

Deposits maturing from two years to less than three years would fetch the depositor with interest of 2.24 per cent as compared to 2.08 per cent.

Interest rates on deposits for above three years and less than four years have also been incremented to 2.84 per cent against 2.69 per cent.

For deposits of four years and above but less than five years, the rate has been fixed at 3.75 per cent compared to 3.20 per cent now.

The NRE term deposits would fetch interest of 2.67% for one year and less than two years as compared to the present rate of 2.59%.

The interest rate on NRE deposits above two years but less than three years has been fixed at 2.99 per cent against 2.83 per cent.

For three years above but less than five years, the interest rate in NRE deposits has been increased to 3.59 per cent against 3.44 per cent.

 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Know about corporate fixed deposits
Recurring Deposits or Systematic...
Some Quick Facts about Wealth Tax in India!
Gold ETFs or Gold Funds: Which One Should...
Fetch higher interest rate on your savings...


Sakeela.CaℒL Giℛℒs In Kharar 0985566O911...
NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...

NEWS THIS WEEK
Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive