CBoP revises interest rates on NRE term deposits

New Delhi, Oct 7: Centurion Bank of Punjab (CBoP) has revised interest rates on Non Resident External (NRE) and FCNR(B) deposits, across different maturities.

The bank will offer 6.30 per cent on NRE term deposits held for period of one year. On deposits for periods in excess of two years the rates of interest are 6.04 per cent and the same for maturity beyond three years upto five years is 6.01 per cent.

For FCNR(B) deposits held in US dollars for one year the interest rates offered are 5.30 per cent, and those on two year USD deposits are 5.09 per cent.

The rates on USD deposits for three and four year tenure are 5.01 per cent while the same for 5 year USD deposit is 5.04 per cent.

The new interest rates are effective from October 1, 2006.

CBoP, a private sector bank, serves individual consumers, operates on a strong nationwide franchise of 249 branches and 402 ATMs across 123 locations, and has approvals from the Reserve Bank of India to open further 30 branches before the end of this fiscal.

UNI