UBI revises interest rates on FCNR and NRE deposits from Sep 1

Kolkata, Sep 7 (UNI) The city-based United Bank of India(UBI)today announced revision of interest rates on both NRE and FCNR term deposits with effect from September one.

Top UBI sources here said, accordingly the rates of interest of Bank's NRE term deposits for one year to less than two years,two years to less than three years and for three years to five years had now been revised at 6.41 per cent,6.24 per cent and 6.18 per cent respectively from the previous 6.54, 6.44 and 6.42 per cent.

Similarly,the sources said,in case of FCNR Term deposits in US dollars the new interest rates had now been 5.41 per cent for one year to less than two years,5.24 per cent for two to three years, 5.18 per cent for three to four years,5.20 per cent for four to five years and the maximum 5.22 per cent for the period of five years and above.

In cases of FCNR deposits in British Pound and Euro the newly revised rates of interest had been fixed at 5.24 per cent,5.20 per cent,3.75 per cent,5.18 per cent,5.14 per cent and 5.11 per cent respectively for the above periods,the sources added.

Interestinlgy,the new rates would be applicable for both the new and renewed deposits in the Bank in all cases.

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