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SBI hikes NRE, FCNR deposit rates
MUMBAI:
State Bank of India on Thursday increased interest rates on non-resident external (NRE) and foreign currency non-resident (bank) deposits across all maturities. Interest rates on NRE deposits for one year to less than two years and for two years to less than three years have been hiked to 6.43 per cent from 6.33 per cent and 6.34 per cent, respectively. NRE deposits for three years would now attract 6.45 per cent rate against 6.35 per cent earlier. Interest rates on FCNR (B) deposits in U.S. dollar for one year to less than two years and for two years to less than three years, for three years to less than four years, for four years to less than five years and five years have been raised to 5.43 per cent, 5.43 per cent, 5.45 per cent, 5.47 per cent and 5.51 per cent, respectively.
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