BoR hikes FCNR (B) deposit rates

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Mumbai, Jun 3 (UNI) Bank of Rajasthan, a private sector lender, today said it has revised interest rates, on term deposits of non-resident and foreign currency non-resident deposits (banks) FCNR (B), with effect from June 1.

The interest rates on NRE (rupee) deposits for one to two year have been revised to 3.16 per cent, from existing 3.08 per cent, while at 3.46 per cent from 3.18 per cent for 2-3 years and 3.81 per cent from 3.45 per cent for 3 years and above, BoR said in a statemet here today.

The interest rate on FCNR (B) deposits in US Dollar has been revised to 2.41 per cent (2.33 per cent) for maturity of one to two years, 2.71 per cent (2.43 per cent) for 2-3 year, 3.06 per cent (2.70 per cent) for 3-4 years, 3.30 per cent (3.06 per cent) for 4-5 years and at 3.47 per cent (3.11 per cent) for 5 years, BoR said.

The interest rates on FCNR (B) deposits in Great Britain Pounds have been revised to 5.40 per cent (5.06 per cent) for one to two year, 5.26 per cent (4.65 per cent) for 2-3 years and 5.21 per cent (4.62 per cent) for three years and above.

Similarly, the interest rates on FCNR(B) deposits in Euro has also been revised to 4.34 per cent (4.21 per cent) for one to two, 4.23 per cent (3.78 per cent) for 2-3 years and 4.11 per cent (3.68 per cent) for 3 years and above, the bank said.

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