Interest rates on NRI Deposits revised

Kolkata, Jul 3: The UCO Bank has revised upward interest rates on NRI Deposits with effect from July 1, a release issued here by the bank's General Manager stated.

''For NRE term deposits held for periods of one year to less than two years, two years to less than three years, and above, the rates are hiked from 3.16 per cent to 3.31 per cent, 3.46 per cent to 3.60 per cent and 3.81 per cent to 3.95 per cent respectively,'' the statement added. Similarly, for FCNR (B) deposits, the interest rates for periods of one year to less than two years, two years to less than three years, three years to less than four years, four years to less than five years and for five years only were 2.56, 2.85, 3.20, 3.42 and 3.56 per cent per annum respectively in USD, 5.70, 5.50, 5.47, 5.41 and 5.32 per cent per annum respectively in GBP and 4.64, 4.62, 4.55, 4.47 and 4.41 per cent per annum respectively in EUR.

Besides, the interest rates on CAD, AUD and Japanese Yen deposits were also hiked, the statement added.

UNI