Central Bank of India revises interest rate on NRE

Mumbai, Sep 4 (UNI) Central Bank of India (CBI) has revised interest rates on NRE and foreign currency non-resident (B) deposits across all maturities, with effect from September 1.

Now interest rates on NRE time deposit has been revised for one year to less than two years to 6.40 per cent from 6.50 per cent, for two years to less than three years to 6.25 per cent from 6.40 per cent and for three years to 6.20 per cent from 6.40 per cent, a release issued here today said.

Similarly, interest rates on FCNR (B) deposits in GBP have also been revised, for one year to less than two years are 5.24 per cent from 5.04 per cent, for two years to less than three years are 5.20 per cent from 5.08 per cent, for three years to less than four years are 5.18 per cent from 5.11 per cent.

Interest rates for FCNR (B) deposits in Euro have also been revised, for one year to less than two years are 3.62 per cent from 3.55 per cent, for two years to less than three years are 3.75 per cent from 3.76 per cent, for three years to less than four years are 3.78 per cent from 3.84 per cent, for four years to less than five years are 3.81 per cent from 3.90 per cent and for five eyars 3.85 per cent from 3.96 per cent.

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