BoR hikes interest rates on its NRE, FCNR (B) deposits

Mumbai, May 8 (UNI) Leading private sector banking major, Bank of Rajasthan (BoR), has raised its interest rates on both NRE and FCNR (B) deposits.

The interest rate on NRE term deposits for the maturity period of three years has been increased from 6.30 per cent to 6.40 per cent per annum for the month of May, while the interest rate for maturity periods of one year to less than two years and for two years to less than three years remains the same at 6.30 per cent, a relesae issued here today said.

The bank has raised the interest rate on its dollar-denominated FCNR (B) deposits for maturity of one year to less than two years from 5.29 per cent to 5.33 per cent while for a maturity period of two years to less than three years, it has been increased from 5.29 per cent to 5.34 per cent.

The interest rate for USD deposits of three years has been hiked from 5.27 per cent to 5.35 per cent per annum.

In the case of Euro deposits, the interest rate has been hiked from 3.23 per cent to 3.32 per cent in the case of maturity period of one year to less than two years, while for two years to less than three years, it has been increased from 3.52 per cent to 3.64 per cent.

For a maturity period of three years, the interest rate has been increased from 3.64 per cent to 3.78 per cent per annum, the release added.

UNI JJ MJ AW1724