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BoI ups interest rates on NRE, FCNR deposits

By Staff
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Mumbai, May 2 (UNI) Bank of India (BoI) has revised upwards its interest rate on NRE term deposits with a maturity of three years and above from 6.30 per cent to 6.40 per cent, while the rates on maturities of one year to less than two years and two years to less than three years remain unchanged at 6.30 per cent respectively.

A release issued here today stated that the bank has also upped its interest rates on dollar-denominated FCNR deposits from 5.29 per cent to 5.33 per cent for a maturity period of one year to less than two years and from 5.29 per cent to 5.34 per cent in the case of two years to less than three years.

With relation to maturities of three years to less than four years and four years to less than five years, the rates stand revised from 5.27 per cent to 5.35 per cent and 5.30 per cent to 5.39 per cent respectively.

For deposits with a maturity period of five years, the rate has been upped from 5.31 per cent to 5.43 pe cent, the release stated.

The revised rates come into effect from May 1.

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