CBI revises interest rates on NRE deposits

Hyderabad, Jun 2: Central Bank of India has revised the upward interest rates of NRE and Foreign Currency Non-Resident (B) deposits across all maturities, with effect from June one.

Interest rates on NRE Time Deposit had been revised for the period one year to less than two years to 5.39 per cent from 5.30 per cent, for two years to less than three years to 5.32 per cent from 5.06 per cent and for three years to 5.30 per cent from 5.01 per cent, a Bank release said.

Interest rates on FCNR-B deposit in USD were also revised upward to 4.64 per cent for one year to less than two years from 4.55 per cent, 4.57 per cent for two years to less than three years from 4.31 per cent, 4.55 per cent for three years to less than four years from 4.26 per cent, 4.55 per cent for four years to less than five years from 4.26 per cent and 4.57 per cent for five years from 4.29 per cent.

UNI