SBT reduces FCNR, RFC deposit rates
By Neelima Shankar
Mar 6, 2013
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State Bank of India's subsidiary, State Bank of Travancore (SBT) has revised its interest rates for FCNR deposits with effect from March 4, 2013.

According to the new revision, interest rate (in percentage figures) for FCNR deposits in US dollars will be 2.75 for a period of one year to less than two years; 2.40 for two years to less than three years; 3.51 for three years to less than four years; 3.69 for four years to less than five years and 3.92 per cent for five years.

For deposits in pound sterling, the corresponding rates will be 2.93; 2.63; 3.72; 3.88; and 4.08.

The corresponding rates for deposits in euro will be 2.45; 2.48; 3.62; 3.78; and 3.96.

Interest rate for RFC term deposits for six months to less than one year will be 1.00 per cent (no change); one year to less than two years 2.75 per cent against 2.78 per cent; two years to less than three years 2.40 per cent against 2.43 per cent; and for three years, 3.51 per cent against 3.56 per cent.


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