Mumbai, Aug 25: The State Bank of India's (SBI) new deposit scheme targetting the Resurgent India Bond (RIB) holders will be in line with its existing foreign currency non-resident (banks) and non-resident external (NRE) accounts with no special interest rate benefit. "The global roadshows to woo investors have already began and we are not offering any special interest benefit to RIB holders in the new scheme, which will offer a tenor of one, two and three years", a senior SBI official said here today.
The current interest rate for FCNR deposits -- US dollar -- was 1.16 per cent for a tenor of one year to less than two years and 4.14 per cent for the British pound deposits of three year period.
In case of NRE deposits, the rate is 3.8 per cent for deposits of one year to less than two years.
The SBI official said "even at this level, we are still positive and attractive on the interest rates vis-a-vis the global trend". Bureau Report