Syndicate Bank raises interest rates on NRE deposits

Bangalore, Oct 6 (UNI) Public sector Syndicate Bank has made an upward revision of interest rates on Non-Resident External (NRE) Term Deposits and FCNR(B) deposits with effect from October one.

According to a bank press release here today, interest rates on NRE deposits for a period of one year to less than two years have been revised to 4.46 per cent, two years to less than three years to 3.76 per cent and for three years to five years to 4.06 per cent.

In case of FCNR(B) deposits, the interest rate for Dollar deposits for tenure of one year to less than two years is 3.71 per cent, for two years to less than three years 3.01 per cent, for three years to less than 4 years 3.31 per cent, for four years to less than 5 years 3.45 per cent and for five years it is 3.64 per cent, the release said.

The rate of interest for the tenure for 1 year and 1 day on GBP deposits is 6.27 per cent, on Euro deposits 5.24 per cent, on CAD deposits 4.55 per cent and on AUD deposits is 7.55 per cent, the release added.

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