Central Bank announces revised interest rates

Hyderabad, Aug 1 (UNI) The Central Bank of India announced increase of interest rates on NRE and Foreign Currency Non-Resident(B) deposits across all maturities with effect from today.

A bank release here said the interest rates on FCNR-B deposit in USD for one year to less than two years would be 5.54 per cent, for two years to less than three years 5.44 per cent, for three years to less than four years 5.42 per cent, for four years to less than five years 5.43 per cent and for five years it would be 5.46 per cent.

The interest rates on NRE Time Deposit for one years to less than two years had been increased to 6.50 per cent and for two years to less than three years and for three years it would be 6.40 per cent, the release added.

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