SBoP hikes interest rates for NRE term deposits

Patiala, Jun 2 (UNI) For the benefit of its NRI clients, State Bank of Patiala has increased interest rates on NRE term deposits to 3.16 per annum for one year up to less than 2 years, 3.46 per cent for two years but less than three years and 3.81 per cent for a maturity period of 3 years up to 5 years.

The Bank's press release issued today said interest rates on FCNR (B) deposits in US dollars have been increased from 2.33 per cent per annum to 2.41 per cent PA for one year but less than two years, from 2.43 per cent PA to 2.71 PA for two years and above but less than three years, from 2.70 per cent to 3.06 per cent for three years and above but less than four years and from 2.93 to 3.30 per cent PA for 4 years but less than 5 years and from 3.11 per cent to 3.47 per cent for a period of five years.

The new interest rates came into effect from June 1.

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