IDBI Bank Revises NRI Deposit Rates

Hyderabad, Nov 19 (UNI) IDBI Bank, one of the largest Public Sector Banks, has revised its interest rates on Foreign Currency Non-Resident (B) deposits, Non-Resident External and Resident Foreign Currency term deposit rates effective from November 15 this year.

Under FCNR, US Dollar deposits with 1-2 year maturity would now be offered at an interest rate of 4.17 percent p.a., while for deposits of five years the interest rate would be 4.76 percent p.a.

The Bank had also revised its interest rates for deposits maintained in Pound, Euro, Australian Dollar and Canadian Dollar.according to a press release here today.

Revised Interest rates for NRE deposits for 1-2 years is 4.92 percent p.a., while for 2-3 years and three year tenures they will be 4.41 percent p.a. and 4.89 percent p.a. respectively.

Interest rates on Resident Foreign Currency term deposits in US Dollars have also been revised now ranging from 2.68 percent p.a. to 4.17 percent p.a. for different maturity slabs. The Bank revised its interest rates for Pound, Euro and Japanese Yen currency deposits also.

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