Syndicate Bank revises interest rates downward

Bangalore, Oct 4 (UNI) Public Sector Syndicate Bank today announced downward revision of the rate of interest on Non-Residential External (NRE) Term Deposits and Foreign Currency Non-Resident (Banks) FCNR(B) deposits with effect from October One-2007.

Interest rates on NRE deposits for a period of one year to less than two years have been revised to 4.90 per cent (5.28), two years to less than three years to 4.59 per cent (4.90) and for three to five years to 4.64 per cent(4.91).

In case of FCNR(B) deposits, the interest rate for USD deposits for tenure of one year to less than two years is 4.15 per cent (4.53), for 2 years to less than 3 years is 3.84 per cent (4.15), for 3 years to less than 4 years is 3.89 per cent (4.16), for 4 years to less than 5 years is 3.99 per cent (4.20) and for 5 years it will be 4.08 per cent.(4.26) The rate of interest for the tenure 1 year 1 day on GBP deposits is 5.44 per cent, (5.82) on Euro deposits is 3.98 per cent (4.03), on CAD deposits is 4.13 per (4.24) cent and on AUD deposits is 6.47 percent (6.36).

UNI