Revision of interest rates on NRI Deposits

Kolkata, May 02 (UNI) UCO Bank today announced an upward revision of interest rates on NRI deposits with effect from May 1, 2007.

A Bank release said here that for NRE Term deposits held for the periods 1 Year to less than 2 years, 2 years to less than 3 years, 3 years and above, the rates would be 5.30 per cent, 5.06 per cent, and 5.01 per cent respectively.

For FCNR (B) deposits, the interest rates for periods of one year to less than 2 years, 2 years to less 3 years, 3 years to less than 4 years, 4 years to less than 5 years, and for 5 years are 4.55, 4.31, 4.26, 4.26 and 4.29 per cent respectively in USD; 5.23, 5.12, 5.08. 5.03 and 4.98 per cent respectively in GBP and 3.55, 3.64, 3.64, 3.64 and 3.64 per cent respectively in EUR.

The interest rates on CAD, AUD, Jap Yen deposits have also been hiked.

UNI