Syndicate Bank revises inerest rates on NRE accounts
Bangalore, July 5 (UNI) Public Sector Syndicate Bank has effected an upward revision of interest rates on Non-Residential External (NRE) deposits to 5.43 per cent and Term Deposits and Foreign Currency Non-Resident (Banks) FCNR(B) deposits to 5.46 per cent with effect from July one this year.
In a press release here today, the Bank informed that interest rates on NRE deposits for a period of one year to less than two years had been revised to 5.43 per cent, two years to less than three years to 5.43 per cent and for three to five years to 5.46 per cent.
In case of FCNR(B) deposits, the interest rate for USD deposits for tenure of one year to less than two years is 4.68 per cent, for 2 years to less than 3 years is 4.68 per cent, for 3 years to less than 4 years is 4.71 per cent, for 4 years to less than 5 years is 4.75 per cent and for 5 years and above it will be 4.79 per cent.
The rate of interest for 1 year 1 day on GBP deposits is 5.57 per cent, on Euro 3.78 per cent, on CAD 4.10 per cent and on AUD deposits 6.02 percent, the bank said.
UNI