Mumbai, July 01: India's largest lender, State Bank
of India and Union Bank of India today revised interest rates
on foreign currency non-resident bank deposits and non
resident external rupee term deposits with immediate effect.
Deposits in US dollar, having 1-2 years maturity, will
now carry a rate of 2.61 per cent (2.60 per ent). Those in 2-3
years and 3-4 years maturity will attract 2.53 per cent (2.38
per cent) and 3.12 per cent (2.99 per cent), banks said.
Similarly, deposits in Pound and Euro, having 1-2 years
maturity will attract rates 2.70 per cent (2.76 per cent) and
2.50 per cent (2.64 per cent) respectively, banks said.
Deposits in 2-3 years, 3-4 years and 4-5 years, in pound
will carry rates 3.32 per cent (2.93 per cent),4.02 per cent
(3.55 per cent) and 4.46 per cent (4 per cent) respectively.
Euro deposits in the above maturities will carry rates
of 2.84 per cent (2.76 per cent), 3.30 per cent(3.19 per cent)
and 3.64 per cent(3.56 per cent).
SBI and UBI also revised their NRE term deposit rates.
With this, 1-2 years, 2-3 years and 3 years and above deposits
will carry rates of 3.36 per cent (3.35 per cent), 3.28 per
cent (3.13 per cent) and 3.87 per cent (3.74 per cent).
Bureau Report
First Published: Wednesday, July 01, 2009, 19:58