SBoP hikes interest rates for NRE-Term Deposits

Patiala, Jul 1 (UNI) State Bank of Patiala has increased interest rates on NRE term deposits with effect from today to 3.31 per cent per annum for one year up to and less than 2 years, 3.60 per cent for two years but less than three year and 3.95 per cent for a maturity period of 3 years up to 5 years.

The bank's press release stated that interest rates on FCNR (B) deposits in USD have been increased from 2.41 per cent per annum to 2.56 per cent per annum for one year but less than two years, from 2.71 per cent per annum to 2.85 per cent per annum for two years and above but less than three years, from 3.06 per cent to 3.20 per cent for three years and above but less than four years and from 3.30 to 3.42 per cent per annum for four years but less than five years and from 3.47 per cent to 3.56 per cent for a period of five years.

Similarly, interest rates on FCNR (B) deposits in Austrian dollars have been increased to 7.77 per cent for one year but less than two years, to 7.21 per cent per annum for two years and above but less than three years, to 7.12 per cent for three years and above but less than four years and to 7.13 per cent per annum for four years but less than five years and to 7.02 five for a period of five years, the press release said.

UNI PS VN1819