Syndicate bank revises NRE and FCNR (B)rates

Bangalore, Aug 6 (UNI) Syndicate Bank has revised the rates of interest on Non-Residential External (NRE) Term Deposits and Foreign Currency Non-Resident (Banks) FCNR(B) deposits with effect from August one.

Interest rates on NRE deposits for a period of one year to less than two years have been revised to 5.25 per cent, two years to less than three years to 5.17 per cent and for three to five years to 5.21 per cent a bank release here said today.

For FCNR(B) deposits, the interest rate for USD deposits for tenure of one year to less than two years is 4.50 per cent, for 2 years to less than 3 years is 4.42 per cent, for 3 years to less than 4 years is 4.46 per cent, for 4 years to less than 5 years is 4.54 per cent and for 5 years it will be 4.61 per cent. The rate of interest for the tenure 1 year 1 day on GBP deposits is 5.54 per cent, on Euro deposits is 3.79 per cent, on CAD deposits is 4.14 per cent and on AUD deposits is 6.14 percent.

UNI