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IDBI revises Non-Resident Deposit Rates

Written by: Staff

Mumbai, May 3 (UNI) The non-resident Indians (NRIs) will earn a higher return on their deposits with the IDBI following the upward revision of interest rates on their deposits, both in Indian rupees and in foreign currency, with effect from May 1.

The NRE Rupee deposit rate for 'one year to less than two years' has been increased from the existing level of 6.30 to 6.33 per cent while the corresponding Deposit rate in the 'three-year' category has been increased to 6.35 per cent.

Similarly, the Bank has also increased the interest rate on USD FCNR (B) deposits for 'one year to less than two years' to 5.33 per cent from the existing level of 5.29 per cent.

The Bank offers FCNR (B) deposits in five foreign currencies viz., US Dollars, Sterling Pounds, Euro, Australian Dollar and Canadian Dollars.


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