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CENTRAL BANK OF INDIA REVISED INTEREST RATES ON NRE & FCNR - B DEPOSITS
Central Bank of India has revised upward interest rates on NRE and Foreign Currency Non-Resident (B) deposits across all maturities, with effect from 1st June 2007.
Interest rates on NRE Time Deposit has been revised one year to less than two years to 5.39 per cent from 5.30 per cent, for two years to less than three years to 5.32 per cent from 5.06 per cent and for three years to 5.30 per cent from 5.01 per cent.
Interest rates on FCNR-B deposit in USD are also revised upward to 4.64 per cent for one year to less than two years from 4.55 per cent, 4.57 per cent for two years to less than three years from 4.31 per cent, 4.55 per cent for three years to less than four years from 4.26 per cent, 4.55 per cent for four years to less than five years from 4.26 per cent and 4.57 per cent for five years from 4.29 percent.
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