Syndicate bank hikes interest rate on NRE, FCNR(B) dsposits

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Bangalore, Nov 17 (UNI) Public sector Syndicate Bank today made upward revision of interst rates on NRE Term Deposits and FCNR(B) Deposits.

According to a release here, interest rates, which came to effect from yesterday, on NRE term deposits for a period of one year to less than two years have been revised to 4.92 per cent, two years to less than three years to 4.41 per cent and for three years to five years to 4.89 per cent.

In case of FCNR(B) deposits, the interest rate for USD deposits for tenure of one year to less than two years is 4.17 per cent, for two years to less than three years 3.66 per cent, for three years to less than four years is 4.14 per cent, for four years to less than five years is 4.49 per cent and for five years it is 4.76 per cent, the release added.

The rate of interest for the tenure of one year one day on GBP deposits is 7.01 per cent, on Euro deposits is 5.87 per cent, on CAD deposits is 4.17 per cent and on AUD deposits is 7.28 percent, the release added.

UNI RS AKM 1450

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