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City Union Bank fixes new rates for NRE deposits
CHENNAI
: City Union Bank has fixed new rates for non-resident (external) rupee (NRE) and foreign currency non-resident (FCNR) deposits. In the case of NRE deposits, the interest rate for one year but less than two years is 5.70 per cent and for two years and above 5.75 per cent. For FCNR deposits, the interest rate is 4.70 per cent for dollar deposits of one year but less than two years; 4.75 per cent for two years but less than three years and for three years but less than four years; 4.80 per cent for four years but less than five years and for five years only. For British pound sterling deposits, the interest rate for all the above maturity periods is 4.40 per cent. These rates are effective December 1, says a bank release.
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