SBP increases NRE deposits interest rates

Patiala, Nov 17 (UNI) State Bank of Patiala has increased the interest rates on NRE term deposits with effect from today to 4.92 per cent per annum for upto one year and less than 2 years.

The rates have been increased to 4.41 per cent for a maturity period of 2 years and above but less than 3 years and to 4.89 per cent per annum for 3 years and upto 5 years.

A bank press release said here today that interest rates on FCNR (B) deposits in USD have been increased to 4.17 per cent per annum for a period of 1 year and above but less than 2 years, to 3.66 per cent per annum for 2 years and above but less than 3 years, to 4.14 per cent for 3 years and above but less than 4 years, to 4.49 per cent for 4 years and above but less than 5 years and to 4.76 per cent per annum for a period of 5 years.

Similarly, interest rates on FCNR (B) deposits in GBP have also been increased to 7.01 per cent per annum for a period of one year and above but less than 2 years, to 5.18 per cent for 2 years and above but less than 3 years, to 5.32 per cent for 3 years and above but less than 4 years, to 5.42 per cent for 4 years and above but less than 5 years and to 5.51 per cent per annum for a period of 5 years.

UNI XC HS VN1849