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CBI ups interest rates on FCNR (B) deposits

Written by: Staff
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Mumbai, May 2 (UNI) Central Bank of India (CBI) has increased the interest rates on its dollar-denominated FCNR (B) deposits across all maturities with effect from May 1, 2006, said a release here today.

For a maturity of one year to less than two years and for two years to less than three years, the rates stand enhanced from 5.29 per cent to 5.33 per cent and 5.34 per cent respectively.

For three years to less than four years and for four years to less than five years, the rates have been upped from 5.27 per cent to 5.35 per cent and from 5.30 per cent to 5.39 per cent respectively.

For a maturity of five years, the rate has been increased from 5.31 per cent to 5.43 per cent.

Interest rates on NRE time deposits for all maturities remain unchanged at 6.30 per cent, stated the release.

UNI JJ PP AW1741

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